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5 Questions with... Janet Ecklebarger

Income tax essentials for artists

In anticipation of Janet Ecklebarger’s upcoming talk “Everything You Ever Wanted to Know about the Schedule C* (*But Were Afraid to Ask): Income Taxes for Artists” on Wednesday, March 17 at Chicago Artists Coalition, CAC’s Education Assistant Rachel McDermott asked Janet a few key questions about income tax essentials for artists.

Rebecca Kling

Spending Money to Make Money

Rebecca Kling on ways to invest in your practice

As an artist, spending money on non-essentials is a difficult concept to get behind. When you’re struggling to make rent, putting money into an abstract project is hard to justify. Why should you put money toward something that might help you when you can pay for something that you need to do now.

Gross = Net/(1-Charges)

Calculating Net Profit After Taxes and Surcharges

A simple formula to account for the costs of doing business

Setting a base price is difficult enough: You have to assess the state of the market, your relationships with potential collectors, your sales and exhibition/performance history, your volume of output and perceived demand. Then comes a patron. You "run the numbers" which, for most creatives, means you worry about it for a while. A number floats into focus.

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