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Caroline Henry Art Blog

It Is a Business

by Caroline , January 12, 2009—12:00 AM

Topics: art business, the artist's life

Strong coffee, 2008 records of non-gallery sales, and calculator in hand, I started the day by completing my California State Sales Tax. All of us would rather be painting, drawing, welding, photographing, stitching, or whatever our particular arts involve, but time comes when we have to work at the business side of it.

I'm not the greatest person for regularly recording and filing for the business side of being an artist, but I've complicated things by not sufficiently backing up the records I had on my laptop. When I lost my hard drive in November, I lost a lot of data. Fortunately every bit of paper related to art expenses and income does go immediately into a folder marked "Art Business 2008"--or whatever the current year. So rebuilding is fairly easy.

Doing the sales tax was simple. Most of my sales were though the gallery which does its own sales tax reporting. Getting ready for the IRS, with both income and expense to report, will be a little more complex. Resolved for 2009, back up or print out the Excel records monthly.




  Mary Lawler ( homepage )

01/15/2009 * 23:48:21

I just finished my quarterly estimated tax payments and I am gathering files for my 2008 tax return. Paperwork is one big giant pain, but I find it much easier at the end of the year to have kept my records up to date monthly. Even though it is time consuming and boring, if you keep good records and receipts you can find a lot of deductions. That really helps the bottom line.
You only have to have your hard drive crash once to get in the habit of backing things up. I archive files to CD regularly...just in case.
Here's hoping you get lots of money back.

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