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02-12-2008, 01:01 PM
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#1 (permalink) |
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Sarcasm Is Blue
 
Join Date: Jan 2008
Posts: 1,351
Thanks: 46
Thanked 65 Times in 46 Posts
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Art and the IRS
I'm going to take a chance that someone here knows something about how the IRS works when it comes to monitoring an artist's income.
This is the first year I made a profit large enough to have to report on income tax. Some income comes from credit card sales, that gets reported to the state for sales tax, some income comes from galleries, some comes in the form of personal checks and sometimes even cash. I can't believe the IRS hasn't thought up some nifty way to track this and nail an artist if they don't report everything. Any wisdom, experience or advice? |
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