The most frustrating thing about my job is creatives who say “good enough” when it comes to taxes. Before taking action on the information in this guide, it’s in your best interest to consult with a Certified Public Accountant or other licensed professional for personalized advice on taxes, legal issues, financial planning, and investments. The tax law is very specific, and articles can’t be personalized for individual readers therefore, your situation will vary from exactly what’s discussed here. However, it includes only general information and is not intended as advice or personal recommendation. In writing this guide, I hope to make tax planning a little more understandable and interesting. It will discuss only the US tax code as outlined in the US Tax Cuts and Jobs Act of 2017. This guide will be most relevant to creative freelancers, hobbyists, and small business owners in arts-related industries. Katherine Pomerantz, Money Mentor & Accountant It takes time and persistence, but it is possible, and I hope this guide will help get you moving in that direction. Once you change the way you think about money and taxes, all other business topics become a lot easier to adapt to your creative brain. It turns out that a little financial knowledge goes a long way in supporting a career in the arts. Once I committed to turning my finances around, however, I surprisingly fell in love with the power of accounting. ![]() Back then, I really struggled with money. Before I owned an accounting firm, I worked in the film industry as an actress and director. I say “we” because I’m also a creative thinker. We don’t hold traditional jobs and we certainly don’t conform to traditional values. ![]() In my experience as a small-business money mentor, too many artists and creatives shy away from financial topics because traditional money advice doesn’t suit creative brains. If you know you need to figure out your taxes, but your first instinct is to save it for another time-stop, and stick around a bit longer.Īren’t taxes the biggest, scariest business issue you have to deal with every year? Then why do we, as artists and creative thinkers, tend to put off tackling this crucial topic?
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