I am a photographer and have to pay income tax. I would believe the same goes for any artist business. A good accountant who deals with artist business will have all the answers for you questions. Depending where you live the artist is also required to charge sales tax.
Answers & Comments
Verified answer
No. His paintings are inventory or product not investments.
yes, the earning of the person will be
taxable becuase it is the regular
business of the person. he earns profit
from this business other than stock,witho
ut depreciation and movable items. on the
other side deductions will be allowed opn
the loss under sec 38.
I am a photographer and have to pay income tax. I would believe the same goes for any artist business. A good accountant who deals with artist business will have all the answers for you questions. Depending where you live the artist is also required to charge sales tax.
No, it's self employment income.