tag:blogger.com,1999:blog-2472366353445139162.post7773018204988024057..comments2023-09-29T03:10:20.846-06:00Comments on June Walker: Tax & Financial Advisor to the Self-employed: Designers Dozen: Tax Saving Tips for the Graphic ArtistJune Walkerhttp://www.blogger.com/profile/06012914777750500466noreply@blogger.comBlogger52125tag:blogger.com,1999:blog-2472366353445139162.post-18396396475006468812011-05-25T07:31:49.635-06:002011-05-25T07:31:49.635-06:00Really helpful tips. This kind of things is bit te...Really helpful tips. This kind of things is bit technical for me, but thanks to you, I now have ideas on how to handle my business in my line of work. Thanks.Steve| local seohttp://www.get-places.com/noreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-20099511941537749652011-05-17T08:25:22.712-06:002011-05-17T08:25:22.712-06:00I do graphic design from home and received a busin...I do graphic design from home and received a business tax form. It asks for total gross sales. Do I report everything I earned even though I didn't sell a product, only a service?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-62244087506524032002011-04-18T15:06:03.172-06:002011-04-18T15:06:03.172-06:00How do you handle inventory (paintings that you ha...How do you handle inventory (paintings that you have not sold yet) as a visual artist for tax purposes? Thank you.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-51955733670245895312010-03-12T17:33:23.993-07:002010-03-12T17:33:23.993-07:00Hi Ken,
By this time I'm sure you have finish...Hi Ken,<br /><br />By this time I'm sure you have finished your audit. I hope it went well.<br /><br />As I said in a Valentaine's Day post:<br /><br />In an audit it depends on the tax pro and the taxpayer as to which one, or both, should handle the audit. I've had some clients who, with my coaching, did great by themselves. Other clients I would not let near the IRS. Years ago a client went to her own audit. She told the IRS auditor that she paid more in taxes in a year than the IRS auditor earned in a year. That audit did not fly well.<br /><br />-- JuneJune Walkerhttps://www.blogger.com/profile/06012914777750500466noreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-71731108372695632712010-02-10T03:40:26.669-07:002010-02-10T03:40:26.669-07:00going to my IRS audit on jan. 18 but my attorney s...going to my IRS audit on jan. 18 but my attorney says he wants to go at it alone. My first audit my 3 small businesses (seasonal)and reg. job plus 1 rental property was a mess and the irs agent told my attorney, have ken straighten this mess out and i will come back. I have worked on the organization of all three for a month and with the help of junes book and cd i can explain every thing. I have under reported both income and deductions. I feel i can exlpain every thing with the lawyer there but I do not feel the lawyer will take the time like i will. MY QUESTION is I want to be there when the irs asks questions. I am license in all 3 businesses and I have visted the irs web so many times they know me well. I will pay of course but my situation is a little different. Great book june and cd. Kenkennoreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-40342032520894368052009-12-05T14:19:47.254-07:002009-12-05T14:19:47.254-07:00Dear Anonymous,
You went from employee to somethi...Dear Anonymous,<br /><br />You went from employee to something then back to employee. You don't give enough information about what you did during the time you did something. Is the "something" you did in between considered self-employment? First you must determine that by looking at the requirements for being a self-employed in business. After you review those requirements & answer the questions honestly. If you have determined that you were self-employed then you claim the income from the sale and the expenses of your self-employment. <br /><br />See the left category list. Read my posts on "being self-employed" to help you make the determination. <br /><br />-- JuneJune Walkerhttps://www.blogger.com/profile/06012914777750500466noreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-50120540061128191712009-12-05T14:11:41.665-07:002009-12-05T14:11:41.665-07:00To the previous Anonymous who asked about donating...To the previous Anonymous who asked about donating artwork he or she produced: I have said a lot about that topic here on this blog. Check out the "Topics/Categories/Labels" list on the left and choose the category "expenses -- donated services or products"<br /><br />-- JuneJune Walkerhttps://www.blogger.com/profile/06012914777750500466noreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-25622306695672414062009-12-01T13:51:58.785-07:002009-12-01T13:51:58.785-07:00June, I was unemployed for 13 months and during th...June, I was unemployed for 13 months and during that time I began my art work again after 25 yrs..During my uneployment I spent a great deal of money from savings and credit cards to buy supplies,having prints made and joining a gallery (non-profit caharity). I sought employment, and recieved unemployment until I found full time employment in november.In December I sold two paintings through the non-profit gallery. The income from that after their share of the proceeds was far less than all my investments for my art business.<br />What deductions do you think I may have?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-68954377135744543042009-12-01T13:35:09.409-07:002009-12-01T13:35:09.409-07:00June , I just came accross your site.I am an Artis...June , I just came accross your site.I am an Artist (Multi mediums).I recently donated two original art pieces to a non-profit charity auction. one piece sold for the full preset value price and the other for just a little under.Of course the works had market value but they also cost me time, material and other cost to produce and make them available for the sale.What, if anything should I be able to deduct?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-37341722574228141712009-08-19T04:15:35.517-06:002009-08-19T04:15:35.517-06:00Thanks for this great article. I graduated from a ...Thanks for this great article. I graduated from a graphic design school and 3 weeks ago and have just started working full time as a graphic designer, I have the receipts from the expenses during school, my mac, books, the course its self and going along to design based events. Can I claim any of these items? I use the same mac bought at school in my current position and I look at the books I have? I was also wondering if you knew about phones and phone bills if used for business? THANKS HEAPS for your time! <br />It is wonderful being able to access this information.<br />Jessjesshttps://www.blogger.com/profile/01014526784528735181noreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-64320689696063240972009-07-21T08:29:18.468-06:002009-07-21T08:29:18.468-06:00Hello Jrom,
Your Nanny must be on payroll but not...Hello Jrom,<br /><br />Your Nanny must be on payroll but not on your business payroll. She is not a business expense. So she is not a business deduction.<br /><br />Whether a SEP or any other pension, there are regulaions regarding covering your employees, such as<br />-- age <br />-- hours worked per week<br />-- length of service<br />Depends how your pension plan is set up.<br /><br />Your household employee would not be part of any mandatory coverage.<br /><br />-- JuneJune Walkerhttps://www.blogger.com/profile/06012914777750500466noreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-72006910303062071282009-07-21T08:22:24.493-06:002009-07-21T08:22:24.493-06:00Thank you, hosting boy.
Want to Learn more? Come ...Thank you, hosting boy.<br /><br />Want to Learn more? Come to the Creative Freelancers Conference in San Diego end of August --<br />http://www.creativefreelancerconference.com/GeneralMenu/.<br /><br />-- JuneJune Walkerhttps://www.blogger.com/profile/06012914777750500466noreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-41732197715096671932009-07-21T05:49:45.153-06:002009-07-21T05:49:45.153-06:00Great tips, will be inspire.Great tips, will be inspire.hosting boynoreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-91611827290846721672009-07-20T10:38:15.196-06:002009-07-20T10:38:15.196-06:00June - very informative site, wish I had foudn thi...June - very informative site, wish I had foudn this sooner!<br /><br />If I am an indie and I have hired a nanny, would it be more prudent to hire her as an employee of my business or as an employee of my household? Is there a difference?<br /><br />The reason I ask is I am interested in starting a SEP, and apparently if I open one for me, then I have to open one for all my employees - so if I understand that correctly, I don't have to open one up for her if she's an employee of my household - is this accurate?Jromnoreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-51866045771869541492009-06-17T11:11:11.551-06:002009-06-17T11:11:11.551-06:00Joe --
Thanks. Please tell your artist colleagues...Joe --<br /><br />Thanks. Please tell your artist colleagues and friends.<br /><br />Cheers,<br />JuneJune Walkerhttps://www.blogger.com/profile/06012914777750500466noreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-17516500136997490452009-06-15T00:27:49.586-06:002009-06-15T00:27:49.586-06:00Very insightful post! Thanks for the tips, it is g...Very insightful post! Thanks for the tips, it is greatly appreciated!AXZM - Dallas Web Consultinghttp://www.axzm.comnoreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-7900783923173309562009-05-23T15:17:58.454-06:002009-05-23T15:17:58.454-06:00Joe --
Please tell your colleagues in the arts abo...Joe --<br />Please tell your colleagues in the arts about the post. In these tough times they need all the tax savvy they can get.<br />-- JuneJune Walkerhttps://www.blogger.com/profile/06012914777750500466noreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-44049147502446914252009-05-21T19:37:14.120-06:002009-05-21T19:37:14.120-06:00What bright ideas! These are the things that artis...What bright ideas! These are the things that artists should read and meybe they can pick up some ideas from it. Nice entry!website designhttp://www.branditsolutions.comnoreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-65761789631117376972008-09-18T16:13:00.000-06:002008-09-18T16:13:00.000-06:00Dear Jay,I think you'll find the answer to your qu...Dear Jay,<BR/><BR/>I think you'll find the answer to your quesion on reimbursements <A HREF="http://junewalkeronline.blogspot.com/search/label/expenses%20--%20reimbursed" REL="nofollow">here</A>.<BR/><BR/>And the answer to your question on estimated taxes <A HREF="http://junewalkeronline.blogspot.com/2007/03/estimated-taxes_12.html" REL="nofollow">here</A>.<BR/><BR/>If not, let me know.<BR/><BR/>-- JuneJune Walkerhttps://www.blogger.com/profile/06012914777750500466noreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-50622339297584181652008-09-07T03:22:00.000-06:002008-09-07T03:22:00.000-06:00Aloha June - I have two questions for you. I have ...Aloha June - I have two questions for you. I have a full-time job and recently I started picking up a lot of freelance work. <BR/> <BR/>1. I often cover the costs of printing for my clients and they reimburse me after I bill them. Does the printing costs become part of my gross income when they pay me, and do I deduct that printing cost out as a supply? <BR/><BR/>2. Because of my full-time job do I need to file my fed taxes quarterly?<BR/><BR/>thanks!<BR/>JayAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-56032367878704197602008-07-04T21:45:00.000-06:002008-07-04T21:45:00.000-06:00Nice. I will link to this article. take a look at ...Nice. I will link to this article. take a look at <A HREF="http://www.icanfreelance.com" REL="nofollow">ICanFreelance.com</A> for any <A HREF="http://www.icanfreelance.com" REL="nofollow">website design</A> or <A HREF="http://www.icanfreelance.com" REL="nofollow">writing jobs</A> you need.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-50498786765804507772008-04-16T08:20:00.000-06:002008-04-16T08:20:00.000-06:00Hello Terre,For a sole proprietor, auto expense is...Hello Terre,<BR/><BR/>For a sole proprietor, auto expense is deducted on Schedule C: Profit or Loss From Business. The same place an indie deducts all other business expenses.<BR/><BR/>There is an auto worksheet that simplifies the calculation of auto expense. It is in my book, <A HREF”HTTP://WWW.JUNEWALKERONLINE.COM/PRODUCTDETAIL.ASP?PROD="21”" HREF="" REL="nofollow">Self-employed Tax Solutions</A>.<BR/><BR/>I don't know what you mean "will transportation costs be reimbursed at the full amount." If you mean what I think you mean, you better not be preparing your own return!<BR/><BR/>Best,<BR/>JuneJune Walkerhttps://www.blogger.com/profile/06012914777750500466noreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-73546358283983628322008-04-12T17:33:00.000-06:002008-04-12T17:33:00.000-06:00Thanks for the great advice June. I'm glad to know...Thanks for the great advice June. I'm glad to know that I can deduct expenses from one business meeting to another. However, where do I put that on my form? Also, will just a portion of those transportation costs be reimbursed or the full amount? Thanks!terrehttps://www.blogger.com/profile/03418222208917146370noreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-41847582479053494102008-04-07T15:19:00.000-06:002008-04-07T15:19:00.000-06:00Hi Jason,ALERT!!!!I don't know what you mean that ...Hi Jason,<BR/><BR/>ALERT!!!!<BR/><BR/>I don't know what you mean that all your "write-offs are being placed under personal expenses." If you had $8,000 in business expenses with $12,000 income then your net self-employed income is $4,000. These are pretty typical amounts for someone starting out in your field. <BR/><BR/>A single guy, no kids, no other income, with a net self-employed income of $4,000 should pay only $280 on a 2007 federal tax return.<BR/><BR/>How many self-employed clients does your accountant have? Print out my Designers Dozen post and ask him to read it. What's he think?<BR/><BR/>File an extension. Read more of my blog and site. Read my book. Then evaluate the skill and talent of your tax pro. It may be time to switch or maybe you can educate him!<BR/><BR/>Best,<BR/>JuneJune Walkerhttps://www.blogger.com/profile/06012914777750500466noreply@blogger.comtag:blogger.com,1999:blog-2472366353445139162.post-70577846501453947182008-04-07T14:56:00.000-06:002008-04-07T14:56:00.000-06:00Will do, Tommy. Send me your email or watch the si...Will do, Tommy. Send me your email or watch the site after 4/15. Things are busy until then.<BR/><BR/>-- JuneJune Walkerhttps://www.blogger.com/profile/06012914777750500466noreply@blogger.com