The IRS will consider an activity a hobby if you are not trying to make a profit. It's important to understand the difference between the two types of gigs.
Interest expenses you incur as an artist may be tax deductible. This includes your studio and any other expenses your business may have.
In order to be eligible for the foreign earned income credit, you must meet certain requirements. Read what those requirements are here.
Being self-employed, you may be ables to deduct clothing costs for business. Find out what type of clothing is deductible and if you're eligible.
You can deduct the state sales tax you pay on your everyday transactions as an artist but only if they are for operating your business.
If your business accepts returns or discounts on products, these amounts may be deductible. To know more, click here.
Do you know all the important information related to C Corporation taxes? If you need insights or guidance, read our article here to get tips.
As an entrepreneur you may be able to benefit from deducting appraisal costs. By keeping track of appraisal expenses, you can save time come tax time.
Not all casualty and theft losses are deductible. If you incur a casualty or theft loss, you need to know how to proceed. Read on here for more information.