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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.artsy.net/article/artsy-editorial-7-things-artists-filing-taxes
Mar 19, 2019 · 7 Things Artists Should Know before Filing Taxes …Even if you’re not turning a profit. Losses and a lack of income may make it hard to prove a profit motive—but you... Use a separate bank account for your art. The IRS expects you to operate as a business, so, in …
https://www.artspace.com/magazine/art_101/guide/how-to-do-your-taxes-as-an-artist-55314
Mar 16, 2018 · How To Do Your Taxes As An Artist. 1. KEEP YOUR RECEIPTS. Taxpayers can deduct "ordinary and necessary expenses for conducting a trade or business." These expenses are specific to ... 2. CALCULATE DEDUCTIONS TO YIELD A GROSS INCOME. So you kept all of those receipts, now what? Make an excel document ...
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 …
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https://www.gyst-ink.com/taxes
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 his or her net income (profit), as well as federal income tax. All these forms are part of the year-end 1040 income tax filing.
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.aarp.org/money/scams-fraud/info-2021/avoiding-scam-tax-preparers.html
2 days ago · Tax scams have always been an issue, and they are an even bigger concern this year, because so many people have changes to their financial situations and because scam artists have been taking advantage of extra government benefits. It may also be more difficult to do the usual vetting if you aren't meeting the professional in person due to ...
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