The Resource The income tax aspects of artistic activities

The income tax aspects of artistic activities

Label
The income tax aspects of artistic activities
Title
The income tax aspects of artistic activities
Creator
Subject
Language
eng
Summary
Artistic activities pose special problems for taxpayers. They frequently produce revenue, sometimes a significant amount, which is included in gross income. The artist often appears to be engaged in the activity for profit, and for tax purposes, will want to deduct expenses from carrying on a business. On the other hand, the artist normally derives considerable personal enjoyment and satisfaction from artistic accomplishments, a situation regularly associated with hobbies and other personally motivated activities. The presence of apparent non-business incentives may militate against the taxpayer's ability to fully claim deductions. Given the subjectivity of the "for profit" determination, controversies often wind up in court, where the analysis tends to focus on the tests provided in Regulations
Citation source
In: Practical tax strategies. - New York. - Vol. 93 (2014),
http://library.link/vocab/creatorName
Samelson, D.P
Geographic coverage
North America
Language note
English
http://library.link/vocab/subjectName
  • artist (creative)
  • expenses
  • deductions
  • case law
Label
The income tax aspects of artistic activities
Instantiates
Publication
Label
The income tax aspects of artistic activities
Publication

Library Locations

    • IBFD Library AmsterdamBorrow it
      Rietlandpark 301, Amsterdam, 1019 DW, NL
      52.3736660 4.9336932
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