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https://voidacademy.com/a-simple-tax-guide-for-artists/
Jan 31, 2018 · A Simple Tax Guide For Artists Some of the most important things to know about doing your taxes as an artist By Karina Vahitova on January 31st, 2018. Photo by NeONBRAND. What does it even mean to do your taxes? Doing your taxes as an artist is not that different from doing your taxes as any other kind of working person.
https://www.artsy.net/article/artsy-editorial-7-things-artists-filing-taxes
Mar 19, 2019 · Like other professionals who work in a freelance capacity, artists typically earn untaxed income that they must report to the IRS—and if the artist had a clear intent to make a profit, their practice is considered to be a business.
http://robergtaxsolutions.com/2011/06/tax-tips-for-artists-things-you-need-to-know/
Here’s the thing—most artists should not be doing a Cost of Goods Sold report on their taxes. Let me repeat that: Most artists should NOT be doing a Cost of Goods Sold report on their taxes. …
https://thecreativeindependent.com/guides/a-smart-artists-guide-to-income-taxes/
Mar 14, 2019 · The tax advantages of treating your art like a small business Come tax time, the goal is to save as much tax money as possible, and this is why you might want to make your art practice into an official business. Simply put, qualifying for business tax deductions will make your tax savings bigger.
https://www.artsy.net/article/artsy-editorial-11-tax-secrets-every-art-collector-needs-to
Apr 14, 2015 · In the United States, use tax (the term used to refer to VAT in the context of imports) and sales tax vary from state to state. Residents of Oregon, Montana, New Hampshire, and Delaware are not required to pay any sales tax whatsoever, while the unfortunate art lovers of New York City must pay 8.875% sales tax, the highest figure anywhere in the country.
https://www.nolo.com/legal-encyclopedia/tax-deductions-artists.html
If you're a professional artist, there are many deductions you can take to reduce your taxable income for the year, and thereby reduce your taxes. Such deductions are quite valuable--for example, if you're in the 22% tax bracket, each $100 in deductions saves you $22 in income tax.
https://www.artworkarchive.com/guides/guide-to-finances-and-taxes-for-artists
Financial practices and tax tips for artists. Practical tips for managing the financial aspects of your art business. Get a breakdown on how to budget, set goals, and what you can write off on your taxes. Plus, ways to diversify your income and grow your art business. Budgeting, goal …
https://www.artbusinessinfo.com/tax-tips-for-artists.html
Dec 01, 2012 · Tax Tips for Artists There's only one way to get on top of your tax affairs and that's to identify and address your weaknesses - or pay somebody to do it for you. This site is for those who think they can do better at tax - and aren't yet ready to pay somebody else to do their tax return.
https://blog.sonicbids.com/tax-advice-for-all-musicians
For musicians who are not employees and receive 1099 income, there is a new 20% deduction for small businesses that are “pass-through” entities. Pass through entities will be taxed on only 80% of their qualified business income (QBI). You do not need to form a loan out company such as an LLC or S-Corporation to be eligible.
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