Re: Income and selling prints / etc. at tax time

>>>I sell my work and other products of my art mostly online and only
occasionally through gallery sales. How do you handle this aspect of
your finances?>>>

I think you ask a qualified tax expert. You not only have federal tax, but you might have some local taxes. Bob is not qualified to answer in depth.

Does your gallery report the payments they make to you? I would ask. the last thing you want to do is let the IRS discover income you did not report.

The IRS might conclude that you are a business and not a hobby because apparently, you are acting like a business. You might also be a business as far as your local licensing authorities are concerned. Do you have a business license?

Last week I read something about PayPal "cooperating" with the IRS. No further details. If you sell on eBay or on a web site, make sure you have paid your fair share.

You might ask the IRS. Explain your situation and how you operate. They are not as bad as we seem to think they are. Unless you cheat, then watch out.

Bob
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Received on Sun Apr 23 21:27:25 2006