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https://www.artbusinessinfo.com/tax-tips-for-artists.html
Dec 01, 2012 · In summary, my top tax tips for artists are: PRINCIPLES. Hobby income is still income and can still be taxable - know what the rules are and what you need to declare. know the "badges of trade" - the indicators that tax people use to make a …
https://www.nolo.com/legal-encyclopedia/tax-deductions-artists.html
A self-employed artist may deduct any expense that is: directly related to the art activity; ordinary and necessary, and; not lavish or extravagant under the circumstances. Common deductions by artists include the following: Business Travel: Artists often travel out of town, or even out of the country, to work or show their art. You may deduct all reasonable expenses you incur when doing so.
https://www.hypebot.com/hypebot/2021/03/quick-tax-guide-for-independent-artists.html
7 hours ago · Quick tax guide for independent artists ‘Tis the season! Tax time is here once again, and since your music is your business, it’s important to have a solid handle on you taxes, and make sure ...
https://blog.taxjar.com/sales-tax-guide-artists/
Oct 30, 2017 · Sales tax nexus is just a fancy way of saying a “significant presence” in a state. If you are an artist who primarily works from your home or studio, then you might only have sales tax nexus in your home state. However, other business activities can create sales tax nexus, including:
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 …
http://www.artstaxinfo.com/artists.shtml
The artist usually files a "Schedule C" as part of their regular 1040 income tax form, which is where you report your art income and expenses. The artist may file a form 8829 for the home office (studio) deduction and will also be required to pay self-employment tax (Schedule SE) on your net income (profit) as well as federal income tax.
https://www.americansforthearts.org/sites/default/files/Salesusetaxpaper.pdf
Use tax is a state tax on goods purchased in one state for consumption in another state. The reasoning behind use tax is to help recoup the lost sales tax from purchasing out-of-state goods. See examples 1 & 3 below. Some states allow a credit against use tax for any sales tax paid to another state. Example 1 Kathy owns a gallery in California.
http://www.lehmannstrobel.com/articles/sales-taxes-a-trap-for-unwary-artists-and-dealers/
The artist or gallery is also usually responsible for collecting sales taxes for online sales to residents of the state in which the artist or gallery is located. Since sales taxes must be paid to the state even if the artist or gallery fails to collect the tax from its customers, the failure to collect sales taxes …
https://www.sapling.com/5758646/file-taxes-artist
How you file your taxes as an artist depends on whether you engage in your art as a hobby or a business. According to the IRS, a business is an activity intended to generate a profit and a hobby isn't. If you're trying to make a profit or expect to make a profit from your artwork, you can classify it as a business. However, if you aren't putting in time or effort to make the sale of your art a profitable …
https://www.irs.gov/individuals
Feb 19, 2021 · Processing Delays for Paper Tax Returns. We continue to process electronic and paper tax returns, issue refunds, and accept payments. We’re experiencing delays in processing paper tax returns. If you already filed a paper return, we will process it in the order we received it. Do not file a second tax return or call the IRS.
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