Taxes for Artists, Freelancers and Creative Businesses, with Hannah Cole

Taxes for Artists, Freelancers and Creative Businesses, with Hannah Cole, ENROLLED AGENT, of Sunlight Tax

Wednesday, January 25, 2023 from 2:00-4:00pm, on ZOOM

This is a Cambridge Art Association Member Event, and is free for all current members

This 2-hour workshop is an empowering, jargon-free session that covers two main areas: 

1. A high-level understanding of key tax concepts:

   • The basic tax equation

   • Self employment issues

   • The estimated quarterly tax system, and how to pay quarterly taxes

   • The Schedule C - what it is, who it’s for and how to use it

2. Arts-specific tax concerns, with a focus on artist empowerment:

   •  The artist stereotype and how it plays into an audit situation

   • What people can do to be prepared and counteract it

   • What to do/keep/save in case of audit

   •  The Hobby/Loss Rule and surrounding case law, which is the basis of most artist audits

   • General guidelines for good record keeping

   • The importance of running one’s creative enterprise as a business

   • Understanding the special requirements for meals expenses and home studio/office deduction

Click here to register for the event via ZOOM

About Hannah Cole

What can I deduct? Do I bring receipts to my accountant? Is my art a business or a hobby? What is a Schedule C? How do I deduct my home studio?  Why do freelancers have to pay taxes quarterly, and how do I do that? Hannah Cole is a tax expert who specializes in working with creative businesses and artists. A long-time working artist with a high-level exhibition history, and a tax and money columnist for the art blog Hyperallergic, the financial challenges of freelancers and small creative businesses are both relevant and personal to Hannah. She will discuss the basic tax equation, self employment tax and the estimated quarterly tax system, audit concerns for the creative person, and other tax issues specifically relevant to artists and makers, followed by a question and answer period. Hannah Cole is the founder of Sunlight Tax, which specializes in friendly, informative tax preparation for artists, and engaging, art-world savvy tax education workshops for artist groups, and in empowering creative people to set up for long-term success and take control of the financial side of their careers through her program, Money Bootcamp. She is also the host of the Sunlight podcast, where she talks about taxes, money, and careers for self-employed people who have a big vision for changing the world with their work.

hannah@sunlighttax.com
www.sunlighttax.com
The Sunlight podcast
Instagram: @sunlighttax