Claiming Tax Deductions for Artistic Work
June 13, 2023
Claiming Tax Deductions for Artistic Work How to Claim Deductions for Your Artistic Work When it comes to claiming tax deductions for your artistic work, there are several factors to consider. Here...
Venmo and Taxes
June 13, 2023
Venmo and Taxes If you receive income through a currency exchange platform such as Venmo, you are required to report it on your tax return. This includes payment for any artistic or administrative...
Financial Audit Vs. Financial Review
June 13, 2023
Key Differences Between a Financial Audit & Financial Review A financial audit and review are two different types of financial assessments conducted by professionals to evaluate the accuracy and...
Workers Classification in the Performing Arts: Why Does It Matter?
May 19, 2022
Workers Classification in the Performing Arts: Why Does It Matter? NEXTSTEPS GUEST WRITER: STEFI GEORGE How You Classify Workers Can Make a Big Difference for Workers Compensation and Tax...
Employee versus Independent Contractor
August 20, 2021
Employee vs. Independent Contractor What’s the difference between an employee and an independent contractor? The payment for an independent contractor is performance-based and is determined by the...
Checklist for Processing 1099’s and W2’s
January 14, 2021
Checklist for Processing 1099’s and W2’s End of Year Payroll Tax Forms: W2, 1099 Some of the most important payroll tax forms—W2 and 1099 forms—must be mailed out to your employees and contractors...
What is a 501(c)(3) Nonprofit?
November 16, 2020
What is a 501(c)(3) Nonprofit? 501(c)(3) Nonprofit In the arts industry, a common level of incorporation you may come across is a 501(c)3 not-for-profit. Under this incorporation, the nonprofit...