accounting (2)

8869098685?profile=originalFEBRUARY 21 - 5 PM ET

Don't miss this one if you are "closing your books" or struggling with what to do about your bookkeeping! 

Did you ever see such a business for high overhead as the art fair business? Travel expenses, booth fees, employees, tents, studio space, art supplies, credit card fees, etc. 

We talk to two artists with bookkeeping experience and we'll learn how they adapted this information for art fair bookkeeping. Our experts are:

  • Alison Thomas worked with her husband in his HVAC business and did the bookkeeping with Quickbooks. The business was a corporation with employees so she knows payroll  and payroll taxes and the forms. We'll talk about Quickbooks and how she uses them for her art fair business.
  • Leo Charette has been a data manager using computers since the 1980's, so when he started participating in art fairs he developed a system that could manage the interrelated relationships between creating art, selling art and staying in touch with the art fair patrons.

We'll start with the nuts and bolts of how you begin keeping the books and doing your first tax return and then answer your questions. 

Your options:

--Listen live here: http://www.blogtalkradio.com/artfairs/2014/02/21/taxes-artists-keep-their-books

--Download it for later at that same link

--Call in with questions: (805) 243-1338

--If you can't call in post your question in the comments below and we'll talk about it. 

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So, I am past the halfway point of this season. Seven shows down and six to go... But being this just my second year on the art fair scene, I see a positive trend. Yes, for the year I am still in the red at this point; but that amount is coming down significantly with each show! I honestly think I will be in the black by year end (for 2013).

I know I've been averaging about $1000 a show. If this keeps up, I will end the year on a positive note! This is a business! Yes, art is my passion but seeing the amount in the red shrink with each show is encouraging!

So, a question to the veterans out there, how long before you made it into the black? I think this is a good question to ask for all the newbies out there...

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