Repository 158: Hobby Losses | Artists and the IRS

art practice, contemporary art, perspective, social critique, 2 Comments

Repository 158: Hobby Losses | Artists and the IRS

I’ve just completed a call with our tax adviser about the unfortunate teeter totter of reporting losses for a failing business (being an artist), and convincing the IRS that yes indeed I aspire that this career as an artist will be profitable. Any professional artist reading this and living in the US has had this conversation with an adviser at some point. The IRS is very clear that in no way, shape or form must being an artist be pleasurable…if…