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https://voidacademy.com/a-simple-tax-guide-for-artists/
Jan 31, 2018 · A Simple Tax Guide For Artists Hobby vs. Business. One of the big discrepancies that folks come across when trying to file taxes as an artist is... Standard Deduction vs. Itemized Deduction. Oh, deductions! ... A tax deduction arises due to various types of expenses... Crowdfunding and Taxes. ...Estimated Reading Time: 7 mins
https://www.nolo.com/legal-encyclopedia/tax-deductions-artists.html
All such artists are operating pass-through businesses. The Tax Cuts and Jobs Act established a brand new deduction that allows owners of pass-through businesses, including artists, to deduct an amount equal to up to 20% of their net income from the business. This is in addition to all their other art business deductions.Estimated Reading Time: 7 mins
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 …Estimated Reading Time: 7 mins
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 · I hope this sales tax guide for artists has helped you get a handle on this ubiquitous administrative task. For a whole lot more about sales tax, check out our Sales Tax 101 for Online Sellers guide. Do you have a burning question we didn’t cover in …Estimated Reading Time: 8 mins
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 ...Estimated Reading Time: 6 mins
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.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.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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