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https://voidacademy.com/a-simple-tax-guide-for-artists/
Jan 31, 2018 · Doing your taxes as an artist is not that different from doing your taxes as any other kind of working person. Every year when you file your Individual Tax Return, also known as your 1040 form, you are painting a picture of your financial life for the IRS. This picture consists of your losses and your gains — this is what the IRS wants to know on the most basic level.
https://www.artsy.net/article/artsy-editorial-7-things-artists-filing-taxes
Mar 19, 2019 · We recently spoke to artist and accountant Hannah Cole—who counts many artists among her clients—for some basic tips to help artists navigate tax season smoothly. Behave like a business When artists report their income on the Schedule C, Cole explained, “you’re making an agreement with the IRS that you’re operating like a real ...
https://www.irs.gov/pub/irs-utl/artgalleries.pdf
It is difficult to monitor compliance with the tax laws by artists because art galleries are not required to report sales via information returns (Form 1099) whether they sell the art on a consignment basis, or carry inventory because as a retail establishment they are exempt from the reporting requirements of IRC § 2041 for property.
https://www.artworkarchive.com/blog/the-artist-s-guide-to-tax-deductions
Tax season is upon us. But before you start heading for the border to avoid combing through all of your receipts, take a look at some of the tax deductions you can claim as an independent artist. Depending on where you are in your visual career, you may be asking if your practice counts as a business (as recognized by the IRS) and not a hobby.
https://stefanieoconnell.com/taxes-for-artists/
Mar 20, 2015 · That way you’ll be prepared instead of scrambling for cash to fulfill your tax liability when April rolls around. Taxes for Artists: DIY or Seek Professional Help? There are some good tax software programs out there, but once you enter the world of self-employment and multi-state filings, you probably want to seek out a professional.
https://www.artspace.com/magazine/art_101/guide/how-to-do-your-taxes-as-an-artist-55314
Mar 16, 2018 · If you do report sales income, use a 1040 Schedule C to report all sales revenues and expenses that pertain to your art making practice. All of the money you earned from selling your art goes on line 1. All of money you spent to make that work goes on line 4 …
https://www.sapling.com/5758646/file-taxes-artist
Taxes When Your Art Is a Business. Self-employed artists who qualify as a business report art revenue and expenses on Schedule C. Report sales revenue and other art revenue on line 1 of Part 1. On line 4, report the direct costs you incurred to create the art that you sold.
https://www.artistsnetwork.com/art-business/tax-deductions-for-artists-art-business/
Apr 06, 2015 · Also, if you want to see your art featured in The Artist’s Magazine, then enter your best in the Annual Art Competition–the deadline is May 1. River Valley, Papoose Fire (acrylic on gold gessoed Aquabord, 17.75×17.75) by Stephen Quiller, featured on the cover of The Artist’s Magazine (March 2015). Click here to “pin” this on Pinterest!
https://www.artbusinessinfo.com/tax-tips-for-artists.html
Dec 01, 2012 · Ten More Tax Tips for Artists - Round about this time of year - just as I'm submitting my tax return to Her Majesty's Revenue & Customs, I write a blog post about tax - for artists. Do Hobby Artists need to complete tax returns - reasons why people who are not full time professional artists living in the UK might need to complete a tax return
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