Tuesday, October 7, 2014

New tax ruling for artists

You intend to make a profit from your art. You work at it full time, but just don't make a lot of money. And you try to claim deductions and so on, but the IRS says whoa, you aren't making enough money to call this a real job.

UNTIL NOW.  A new ruling says that you CAN claim your pursuit of art as your job even if you do not make much money. There are still rules, of course. You must show that you work to make a profit and that this is not your hobby.

Please read this article and share with your accountant. Don't have an accountant? Get one. Take your art seriously as a business and so will the IRS.





3 comments:

  1. Great article! Thank you so much for sharing this.

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  2. Very interesting and useful information! Thanks for sharing Leslie!

    ReplyDelete