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What Can Visual Artists Deduct on Schedule C?

What Can Visual Artists Deduct on Schedule C?

Valerie Atkisson / ArtBistro

The following is a general list of what you can and cannot deduct on a Schedule C (Profit or Loss from Business).

Can:

supplies, materials and labor – excluding yourself

If you traveled for your self-employed business you can deduct the expenses if the trip: Travel, meals, expenses related to the production of goods

Advertising: cost to produce, postage etc.

Office expenses: Software and computers required for production and promotion of business

Insurance other than health

Interest on loans for business

Meals and entertainment for networking or business purposes

If you have a separate line or cell phone for you business you may deduct that

If you use a portion of your home for business you can deduct that -see form 8829.

If you use your personal car for work you may deduct the expenses see Schedule C part IV or form 4562.

Gifts to clients, suppliers, and workers

Legal and professional services

Cannot:

Anything that is not used for business purposes

Anything that you do not have a receipt for

Business calls on a personal line

Entertainment not for business purposes

Any business expenses that you have been reimbursed for

Portions of rented space that are not physically defined and are shared for business and personal purposes cannot be deducted.

This is not an all inclusive list. If you have any further question, you can call the IRS or ask a tax preparation professional.

Get Organized Before Tax Day

Schedule C


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