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I know freelancers in general have to but what about artists? How does that even work?
I mostly sell to friends and family (they willingly pay me)
What if by the end of the year I earn $8000. Do I have to lose like $2000 of my hard work?
| Yes | 5 | |
| No | 2 |
well now that yall just admitted it on the internet you do
it would also depend on how the payment was tendered and used
did yall git a 1099?
cash or barter wouldnt matter much but if yall did a portrait of the heada the irs and deposited a check for it in the bank of america then yalld better declare it
By law yes. Any income earned. However in instances like yours, generally the only way the IRS will know, is if you tell them. If you are going to be honest, remember you only have to claim what you earned. You would have business ecpense deductions as well, canvas, paint, brushes, whatever.
You should consult a tax professional. It may end up being to your benefit by the time you figure expenses. You may actuall take a loss when it comes to thst business, reducing your tax burden.
Again, talk to a tax pro.
unfortunately yes you are supposed to claim it, however there are ways around it if you play it smart enough...
Depending on how much you make, you may get most , or some of it back as a refund.
Although if you get paid in cash, well thats a different story. It's like getting an instant refund.
No cause being a artist is not a real job it what call being a lazy bum you should call the irs and let them know
I work a full time and a part time job for 56 hours a week but thanks for making assumptions. And being an artist IS a real job and I plan to make it a full time job soon as I have a degree in it. My Mother is an artist full time, makes $70+ k a year. So much for your ignorance.
Use Google, the average freelance artist earns $56k. You can easily earn upwards of $100k if you were conscientious enough.