You are all being so patient and supportive as I work on this NYP! I wanted to tell you how much your encouragement is helping me keep on keeping on.
Today I got the taxes to the tax lady! I was able to quickly get the few things I'd forgotten. And promised to do a better job next year collecting and saving receipts.
We talked about my art making being a "home hobby" right now, as I told her the bit of $ I'd made this past year on it. She said when (I said if) I made a significantly larger sum in the future we would call it a "business" and I could start taking deductions for my art books, mags, thrift store buys, art materials, art shows and art retreats, classes, etc. etc. etc. Now THAT was exciting! How many of you do this already I wonder? How's it going for you? Guess I better get out a new envelope for receipts just in case! ;-)
I hope you all have an enjoyable weekend where you are.
DH just came in to ask my plans for tomorrow. Seems he wants to go to breakfast in Benicia again. There is a fleet of West White Potters he wants to see sailing on the waters there. Guess what photos you will be seeing on Sunday?! LOL
Saturday, March 27, 2010
Thank You!
You are all being so patient and supportive as I work on this NYP! I wanted to tell you how much your encouragement is helping me keep on keeping on.
Today I got the taxes to the tax lady! I was able to quickly get the few things I'd forgotten. And promised to do a better job next year collecting and saving receipts.
We talked about my art making being a "home hobby" right now, as I told her the bit of $ I'd made this past year on it. She said when (I said if) I made a significantly larger sum in the future we would call it a "business" and I could start taking deductions for my art books, mags, thrift store buys, art materials, art shows and art retreats, classes, etc. etc. etc. Now THAT was exciting! How many of you do this already I wonder? How's it going for you? Guess I better get out a new envelope for receipts just in case! ;-)
I hope you all have an enjoyable weekend where you are.
DH just came in to ask my plans for tomorrow. Seems he wants to go to breakfast in Benicia again. There is a fleet of West White Potters he wants to see sailing on the waters there. Guess what photos you will be seeing on Sunday?! LOL
Ohhh! I can't wait for the photographs....Have a wonderful weekend.
ReplyDeleteI am curious ....what is an NYP ??I have been too polite so far to ask ......is it New Year Project?? it looks fab anyhow .........Lornax
ReplyDeleteall sounds pretty good to me, what a fabulous new venture at your ripe age, you go go girl.
ReplyDeleteIt sounds like you have a wonderful weekend ahead of you. Have fun.
ReplyDeletehave a beautiful weekend looking ath those potters. hmmm, never heard of them before but since they are a "fleet" i guess they are boats not craftsmen.
ReplyDeletelooks great so far....and yay on the taxes....i claim all my work and sales as a business and have for many years...being a hobby is really okay, in my opinion....the deductions are not 100% and the taxes get more complicated and sometimes the money just doesn't add up and then you're depressed ;-)
ReplyDeleteArtymess, you guessed correctly. I am working on a large commissioned art quilt for a woman in New York, and have been referring to it as my NYP. New York Project.
ReplyDeleteJude, the boats are a commin'.
Soul, you should do the same!
Lisa, thanks.
Suki, yes, small sail boats.
Mary, I hope I don't get depressed making money selling art! Oy Vey! Just want to have fun, but stay legal with the feds and state! LOL
Nice to know you've been selling your work for years! Wonderful to be so successful. Congratulations.
I'm lookig forward to your sailing pics. I had to go check what a West Wight Potter was and found out! Cool! In answer to your question, one year I claimed my artwork as a business, had a business license and did logos, layout, brochures, etc for people. I didn't like it and am not good at keeping paperwork in the right places so dropped it the next year and decided to do my art for me, not others. Although I consider it every once in awhile again. It's great to make money doing what you love and would do anyway!
ReplyDeleteI look forward to the photos too.
ReplyDeleteYour NYP is looking good. Looks very colorful.
Oh, how I wish I could make $$$ doing anything from home so I can continue to spend more time with my grands! All I do is pray about it. Enough to have to pay taxes (a lot of taxes)!!! LOLOL!
ReplyDeleteHave a grand time tomorrow morning!
hello lynn, i got my taxes ready today too. what a relief!
ReplyDeletei imagine your accountant must have a dollar figure in mind before you should start taking business deductions. i have been self employed for years and i can claim so many house- and supply type deductions. i didn't make much (yet) from book sales in 09 but i did claim the income and take the deductions.
have a good sunday, best wishes
kj
Having a business has it's advantages. I bought my very first sewing machine last year for production sewing and it was a business expense :)
ReplyDelete