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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://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.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://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.
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 endeavor, the …
https://www.gyst-ink.com/taxes
The artist usually files a “Schedule C” as part of his or her 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 his or her net income (profit), as well as federal income tax.
https://turbotax.intuit.com/tax-tips/self-employment-taxes/the-musicians-guide-to-taxes-top-tax-deductions/L3dFXFokF
The chance to be creative—and the opportunity to be your own boss—makes working as a musician exciting. Here are some of the top business deductions and expenses for self-employed musicians, as well as some tips to guide you through filing your tax return.
https://www.artsy.net/article/artsy-editorial-11-tax-secrets-every-art-collector-needs-to
Apr 14, 2015 · 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. Capital gains or income tax: the choice is yours!
https://www.artacacia.com/blogs/posts/taxes-you-ll-have-to-pay-when-purchasing-or-selling-art
Under the Resale Rights Directive, art sellers have to pay resale royalties to artists or artists’ heirs when they resell their works. The royalties span between 4% (for artworks under €50,000) and 0.25% (for artworks over €500,000) with a maximum resale tax set at €12,500. Value Added Tax (VAT)
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