Understanding Taxes | Expense and Income Worksheets for Visual Artists

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Courtesy Peter Jason Riley, CPA of Riley Associates P.C 

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 Artists and taxes don’t seem to mix very well. Taxes and administrating the business of art are often last on the list of concerns for the visual artist. The artistic temperament simply does not interface well with the exacting rule-filled world of federal and state taxation. Artists tend to avoid the whole matter and consequently leave themselves vulnerable to bad advice. The secret to overcoming this phobia is to develop an understanding of the mechanisms of the tax code and some simple, effective ways of complying with this onerous task. I often use the analogy that you may not need to know how to fix your car but it is helpful to know how it basically works. In so doing you will pay less in taxes and you will be less likely to fall prey to erroneous tax information and disreputable or ill-informed advisors. . . 

EXPENSES 
Expense checklist for visual artists PDF Version 
Expense checklist for visual artists Excel Worksheet Version 
12 month expense worksheet for visual artists Excel Worksheet Version 

 INCOME 
Income worksheet for visual artists PDF Version 
Income worksheet for visual artists Excel Worksheet Version


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(Image credit: Mark Wagner)
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