MONEY & TAX TIPS for PROFESSIONAL ARTISTS

[@willowrae5051]

Just a note- you can't write off your rent/mortgage unless you have a specific area designated to that business and don't do anything else other than that business in that area. To calculate it, measure the square footage of your work area and divide it by the total square footage x 100. That's the percentage you'll be able to write off, not 50-60% of your rent if you do work in your apt 50-60% of the time 😅 that's very dangerous. For example your office is 100 sq ft and your apartment is 1000 sq ft. 100/1000 x 10 = 10% of your rent/mortgage is a write off. This includes 10% of insurance etc. Make sure you have statements of your rent payments and put them with your years tax documents in case you get audited. As with all deductions make👏 sure 👏 you 👏 have 👏 receipts/invoices and file them together!!!

[@ChantelleArts]

this is really interesting, I love that you've explained it well and quickly 🥰

[@raearaya3626]

two videos in a week? thank u for feeding us 🙏🏼

[@mewTripled]

Tried to get this one up before tax day 😭

[@ecupcakes2735]

WHY DONT ARTISTS TALK ABOUT THIS. i swear to god this stuff is SO HARD to navigate but nobody wants to talk about it! it's like this weird mysterious niche genre expertise that everyone needs but nobody wants to share!!

[@RisingJay]

will make notes for this in the future! 🧐

[@theromancefanatic]

Thank you so much!!! This is super appreciated ♥️

[@nadvlacornejo861]

good video ! i liked

[@Art.of.requiem]

This is very helpful

[@dillzee]

Good luck to those who haven't filed yet!

[@pyeitme508]

Awesome!

[@mewTripled]

Ty!

[@pyeitme508]

@@mewTripled Ya welcome!