December 3 - 5 pm ET - Join us by clicking the link
Our guest is Sheryl Kosovski, a certified Financial Recovery Coach who specializes in business development for creative people, helping artists and designers grow their businesses, make more money and learn how to hold onto that income.
How do you handle your money? We'll discuss how to create a spending plan to reflect where you want your resources to go. One that enables you to take care of your financial responsibilities, meet your needs, and enjoy life in the process. One that will, over time, enable you to do things that may seem impossible to afford today.
Do you:
- rarely balance your checkbook or forget to record checks?
- not have a savings account?
- pay only the minimum monthly credit card payment?
- frequently live in pain or stress around money?
- live from show to show?
Or are you:
- confident in your ability to make money
- living below your means
- tenacious in achieving your goals
- determined to get paid what you are worth
We'll talk about how:
- to set up a annual plan to track your income for getting your expenses/income into balance
- to end financial chaos in your life that leads to a better reality
- Awareness of the financial details of your situation can empower you to make money as an artist and how to hold onto that money
Comments
What program are you using, Christine?
We've found a system that seems to help with tax prep. Each month's bank statement you can list the checks for that month that pertain to a line item deduction on your Schedule C. Then, come time to do your taxes, just add them all up and presto! Done. It really saves time. It's also a good way to track what you are actually spending on each category. Must also include cash and credit card expenditures, of course.
This was a very good show. Something to wrap your head around, full of info on why artists may not be financially successful and reasons why some are. Listen to it here: http://www.blogtalkradio.com/artfairs/2013/12/03/no-more-starving-a...
There is also a quickie link at that site so you can download it to listen later.
Thanks, Sheryl!
Sounds good, Connie...thanks.
This is not so much a nuts and bolts tax talk, it is going to be a more philosophical thing like "where did that money go?" and how can I put together a plan to do better next time.
But Tina and Anne, those are good topics for another day. Maybe in Jan. or Feb. I'll get some experts on here to talk about those things. There are members of this community who really know that inside and out -- what do you think?
I would like to see a line by line analysis of how artists can best fill out schedule C and plan/ organize for it during the year. I sit down with Turbo Tax every year and do my best, but often feel like I am guessing!
This sounds very interesting, Connie. From the standpoint of a new artist, I'd like to know what my minimum investment should be, what I can expect the first year in terms of return and how to balance pricing versus materials and labor. Will try to tune in...thanks.
This should be a good one. I know how discouraging it is to go to a show with high hopes and come home and the money is gone. We'll talk about "under earning", expectations, planning. I welcome your questions in the comments below. What would you like me to ask Sheryl?