| Starving: Making a living off of your art is hard. It's | | | | to refute the fact that your art is indeed your business |
| called being a "Starving Artist" for good reason. | | | | when you have a detailed Business log. Keep track of |
| Because of the meager pay most full time artists | | | | everything. When you make business purchases, keep |
| receive, they are not usually in debt to the IRS. But did | | | | the receipts and record the date of the transaction. |
| you know you can turn the tables and have the IRS | | | | Then record the amount and how it relates to your |
| pay you? Get the facts. Learn how you can use the | | | | Art. |
| IRS rules to your advantage. | | | | Filing Your Return: Here's where to report artist income |
| Art Business: Business and Art clash. But if you want | | | | deductions |
| to save money, get organized and look at the facts. If | | | | 1040 or 1040-EZ |
| you classify your art as a business, you can deduct | | | | For reporting your income |
| the cost of your art supplies and business expenses. | | | | Schedule C "Business Profit or Loss" |
| Create a Business log: The IRS is going to try to | | | | All the miscellaneous income you receive should be |
| counter you at every turn. But it will be hard for them | | | | reported on this form. |