You may want to add “get organized” to your new year resolutions. During tax time this year, the IRS has stated it will begin a special initiative to audit individual income tax returns with Schedule C’s that show a loss.
In particular, the IRS plans to focus on certain industries in its audits, including craft sales, photography, art, and writing. In a recent article for Chicago Artist Resource, CPA Julie Herwitt explains the changes and advises people in creative industries how to prepare.
We’ll post more helpful links as we find them!
3 comments
Carrie B. says:
Jan 6, 2010
Hi Heather,
Are there income tax workshops specifically for artists that you know of in the Seattle area?
Many thanks!
Carrie B.
Heather Dwyer says:
Jan 7, 2010
Hi Carrie -
I emailed my friends at Washington Lawyers for the Arts to ask if they will be hosting their terrific tax workshop for artists, as they have for many years.
I received a reply this morning that yes indeed, Neil Sussman will return in February to present his VERY helpful tax workshop for artists.
Visit http://www.thewla.org/ to sign up for email alerts about this and other legal workshops.
Heather
Carrie B. says:
Jan 12, 2010
Thanks Heather! Will be there!
Carrie