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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 · 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 …
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.
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://thecreativeindependent.com/guides/a-smart-artists-guide-to-income-taxes/
Mar 14, 2019 · Let’s say my total income was $50,000 in 2018. This means my income would be portioned out into the following tax brackets: You must pay 10% on income up to $9,525: $9,525 x .10 tax rate = $952.50 owed in 10% tax bracket; You must pay 12% on income between $9,526, and $38,700: $38,700 - $9,526 = $29,174 of income in the 12% bracket
https://www.gyst-ink.com/taxes
As a self-employed artist, you will usually be required to pay estimated quarterly taxes using Form 1040-ES if your Federal tax liability is over $1,000 for the year. For the IRS, deductible business expenses are: Incurred in connection with your trade, business, …
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.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://pocketsense.com/file-taxes-work-freelance-artist-19779.html
Dec 12, 2019 · As a freelancer, you are responsible for paying these taxes on your own. That means Social Security and Medicare will take a particularly big bite out of your wallet because you have to pay both the employer and employee portions. You must also …
https://theconversation.com/should-artists-pay-their-taxes-in-art-57669
Jul 25, 2016 · An innovative policy in Mexico allows artists to pay their taxes in the form of works of art. The program, Pago en Especie (“payment in kind”), allows for hundreds of artists across Mexico to pay...
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