Accounting FAQ

Compiled by Andrea Mills and Steve Barry, Grant Thornton Philadelphia, courtesy of New York Foundation for the Arts
1. Do I need an accountant?

If you are able to do your bookkeeping and file your tax returns yourself, then you probably do not need an accountant. Once your business becomes more complicated or more time-consuming, then it is probably advisable to hire an accountant and a bookkeeper. It is also advisable to hire a qualified professional such as an accountant or an attorney during the initial setup of your organization. Both professionals will be able to clarify questions and help with the choice of the most appropriate business entity.
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Business of Art: Taxing Artists

By Sonya Kimble-Ellis, courtesy of New York Foundation for the Arts
You’re an artist, so you don’t have to worry about some of the constraints that come with running a business. Or do you? Unfortunately, concentrating solely on the process of creating your art is not always possible.
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Taxes and Record Keeping

By Karen Atkinson, courtesy of Side Street Projects

Keeping records is vital to a successful business.  I have included a list of items that you should keep track of in the taxes section.


Things to consider regarding keeping records:
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Charitable Contributions

By Karen Atkinson, courtesy of Side Street Projects

Since artists are always being asked to donate something, here is a brief list of things you need to know about donations.
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