Accounting & Bookkeeping

ORGANIZATIONS

AKAS II.
URL: http://akasii.com
Description: Provides art-related business services and products, including tax information for artists. Advises certificated public accountants on artist tax-related matters.

PUBLICATIONS ARE IN ALPHABETICAL ORDER

Title: Annual Tax Mess Organizer for Writers, Artists, Self-Publishers & Craftspeople: Help for self-employed individuals who did not keep itemized income & expense records during the business year
Author: KiKi Canniff.
Description: Written by a retired tax consultant with a talent for making taxes easy to understand.
Publisher: One More Press
Publication date: Revised 2016

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Title: Artist as Bookkeeper
Author: Sue Greenberg
Description: Provides an overview of record keeping and tax matters frequently encountered by artists. A downloadable free publication.
Publisher: St. Louis Volunteer Lawyers and Accounts for the Arts
Publication Date: Revised 2015
http://vlaa.org/get-smart/publications 

Title: Arts and Numbers: A Financial Guide for Artists, Writers, Performers, and Other Members of the Creative Class
Author: Elaine Grogan Luttrull
Description: An accessible guide that covers a variety of topics, including budgeting, cash management, visual charting, taxes, employment, and business etiquette. Provides examples of common issues within the arts worlds and anecdotes from author’s own
experiences.
Publisher: Agate B2
Publication date: 2013

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Title: "Preparing Your Tax Return,"CARFAC Advisory Notes
Description: For Canadian artists. Available for purchase on a CD-ROM in PDF format. Free to members.
Publisher:CARFAC Ontario  
URL: http://www.carfacontario.ca/CARFAC-Ontarios-Advisory-Notes 

Title: Creativity Is My Business: A Financial Organizer for Freelance Artists, Musicians, Photographers, Writers & Other Talented Individuals
Author: Kiki Canniff.
Description: The IRS classifies creative activities as a hobby, claiming that those who create art do it for fun, and it is not as a business. And,
when a person participates in creative activities part-time, this is a hard label to dodge, unless you keep proper records. This book focuses on how to
avoid the hobby classification, with guidelines on how to keep business-like records,
and help you survive a tax audit.
Publisher: One More Press
Publication Dte: 2012
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Title: Legal Guide for the Visual Artist
Author/Editor: Tad Crawford
Description: Revised edition. See four chapters on taxes.
Publisher: Allworth Press
Publication Date: 2010
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Title: New Tax Guide for Writers, Artists, Performers and Other Creative People
Author/Editor: Peter Jason Riley
Description: Revised edition. Written with the non-accountant, creative individual in mind, this guide provides a clear outline of taxes, responsibilities, income, deductions, I.R.S. audit guidance, timelines and tax and accounting issues.
Publisher: Focus Publishing/R. Pullins Company
Publication Date: 2012
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Title: Quick Fix Tax Kits for Visual Artists
Author/Editor: Barbara A. Sloan
Description: Updated on a yearly basis. Presented in two parts: The General Tax Guide enumerates on various types of taxes affecting artists, and Schedule C Kit for visual artists who are sole proprietors.
Publisher: AKAS II
Publication Date: Updated on a regular basis. 
URL: www.akasii.com

Title: Recordkeeping Kit for Visual Art Professionals and Hobbyists
Author/Editor: Barbara A. Sloan
Description: Revised. Includes bookkeeping basics for an artist's business and personal records, with suggested alternatives to formal bookkeeping and accounting, and completed sample record-keeping forms.
Publisher: AKAS II
Publication Date: Updated on a regular basis.
URL: www.akasii.com

Title: Schedule C Tax Kits for Artists
Author/Editor: Barbara A. Sloan
Description: Includes line-by-line instructions and examples to complete Schedule C and Schedule SE for filing with the IRS. Provides tips on how to lower income taxes and avoid unwanted tax problems.
Publisher: AKAS II
Publication Date: Updated on a regular basis.
URL: www.akasii.com
Title: Tax Guide for Performing and Literary Artists
Author/Editor: Barbara Sloan
Description: Revised. Includes line-by-line instructions for completing the IRS Income Tax Schedule C for self-employed professionals.
Publisher: AKAS II
Publication Date: Updated on a regular basis.
URL: www.akasII.com

 

 

SOFTWARE PROGRAMS
Title: QuickBooks
Description: Software program for business accounting and bookkeeping.
URL: www.quickbooks.intuit.com 

 WEBSITES 

Title: “Are You Really an Artist? It’s the IRS Who Actually Decides”
Description: An article by Daniel Grant, New York Observer, November 24, 2016.
URL: http://observer.com/2016/11/are-you-really-an-artist-its-the-irs-who-actually-decides

Title: Home Office Deduction
Description: Provided by the IRS
www.irs.gov/businesses/small-businesses-self-employed/home-office-deduction 

Title: "Nine Factors That Determine Whether an Activity Is a Hobby”
Description: Written by Robert Gard. The Tax Advisor
URL: www.thetaxadviser.com/issues/2013/jul/tpp-july2013-story-02.html 

Title: Simple Option for Home Office Deduction
URL: www.irs.gov/businesses/small-businesses-self-employed/simplified-option-for-home-office-deduction 

Title: “When is art a business? Hobby losses for artists”
Description: Penned by Daniel Rowe, AICPA Store. Discusses the hobby loss challenge as it pertains to artists and the nine factors for determining whether a profit motive exists. URL: www.aicpastore.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2014/Tax/HobbyLosses.jsp