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Taxes and the Artist

© Cecilia H. Lee

It's that time of year again. The tax deadline is fast approaching. If you're like most of us, you're trying to ignore that shoebox full of receipts in the corner, but you can procrastinate no longer.

Even if you have a regular job, if you're like most artists, you probably have to file forms for a small business or self-employment. The IRS (http://www.irs.ustreas.gov) has made it easier for us by providing forms and information online. You can download or view forms online at http://www.irs.ustreas.gov/prod/forms_pu...

Organizing

If you haven't been filing your paperwork all year, this can be a daunting task. If you have, good for you! Even if you have an accountant do your taxes for you, you'll still have to organize all your paperwork. You can keep up with your finances year-round by getting a financial software, such as Quicken (http://www.quicken.com).

The same company (Intuit), also offers Turbotax, a program to lead you through the tax filing process (http://www.quicken.com/taxes/). If you want to test it out before you buy it, you can do so on their website. My taxes usually really complicated, but I do them myself using Turbotax and it's not so daunting. There are many other tax software options available.

Start by getting your 1999 tax forms b/c you'll need some of the information to do your 2000 taxes.

Write-Offs

Here is a list of certain things that you may be able to write off as a working artist:

- Art supplies (paints, canvas, clay, etc.) - Office supplies (envelopes, paper, computer, etc.) - Mileage (to and from exhibits, for research, etc.) -- make sure you have written evidence of your mileage in case you get audited. - Business-related meals (50%), on the back of the receipt, write who the meal was with and what it was for. - Film/slide processing or duplication - Expenses for a home office (if your studio is part or your home)

Small Business Assistance

The Small Business Tax Education Program (STEP) has a partnership with the IRS and community educational resources to hold workshops and seminars for small-business owners. If you want to learn more about the program, call (800) 829-1040 and ask for the Taxpayer Education Coordinator. You can learn how to order print publications and video tapes and get details on how to take advantage of free tax services, such as joint tax seminars, tele-tax, etc.

Filing an Extension

If you really can't get it together by April 15th, you can file and extension. Starting today, April 1st, the IRS will have a toll-free phone line available for extension requests.

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