Art and Taxes: It’s Mostly Good News!
Here's a short and sweet explanation about what artists can do with their art and taxes. It's the same as any business, but there are some things that are good to know. For one, you may need to depreciate that new easel, and you may need to only deduct some expenses after you've sold the artwork. However, if you've bought it or done it for the purposes of making, marketing, or selling your art then you can deduct it. One piece of advice that I would give is don't think you have to file as a business every year. My accountant...