Every sketchbook you bought on impulse.
Translating the New Tax Bill for Small Businesses
Can small business owners and freelancers benefit from the business deduction in the government’s new tax bill?
No, You Can’t Get a Tax Deduction for Artwork You Donate to Charity
Some arts organizations misleadingly suggests that artists can get tax deductions for works they donate to charity. Here’s why that’s unfortunately not the case.
Why Can’t Artists Deduct Donated Artworks from Their Taxes?
Artists are constantly being promised exposure, glory, connections, gratitude, and other intangible benefits in exchange for giving their artwork away for free.
Posted inIn Brief
Judge Overturns IRS on Artist Tax Deductions
A ruling by the United States Tax Court last week held that an artist employed as a professor could still claim tax deductions on her independent output, the New York Times reported.