If you want to be more than just a "starving artist" and you want to make some good money off of the art work that you do, you will want to consider hiring an accountant to assist you with all of your tax needs. Even if you are not quite making a substantial amount of money just yet, you should still look for a professional that is offering accounting for artists. To help you understand why this would be a good step for you to take, you will want to continue reading.
You Have A Lot Of Expenses
Even if it doesn't seem like it at first, you likely have a lot of different expenses as an artist and these expenses need to be accounted for when it comes time to complete your taxes. This is to make sure that your taxable income is reduced. The lower you can make that taxable income, the less amount of money you will owe the IRS. Therefore, you will want to work with an accountant that really understands the needs of an artist and what they use in order to create their art. You should be able to write off everything from your scratchpad to your art studio rental.
You Want To Lessen Your Odds Of An Audit
When self-employed individuals complete their own income tax returns, they are more likely to make some mistakes. The more mistakes there are, the more likely it is that you are going to end up audited by the IRS. You do not want to have to go through an audit because it is anxiety-producing, time-consuming, and downright scary in many situations. If you have a professional that does accounting for artists, you will have less to worry about. This is because they are much less likely to make any troubling mistakes on your IRS tax forms. They will complete your forms and then go over them with you before submitting them to the government, and this allows you the chance to confirm that you agree with the work that they have done.
Now that you have a better understanding as to why it can be so crucial for you to hire a service that does accounting for artists, you will want to begin your search to find the best accountant for the job. If you happen to know of other artists that use accountants for their tax needs, you will want to ask them who they have hired and whether they are completely satisfied with the accounting services that they have received so far.Share