Fascinating Article About Artists and Tax Revenue

The New York Times published an interesting article about how the Internal Revenue Service views artists and write offs and is called:

Tax Court Ruling is Seen as a Victory for Artists

Written by Randy Kennedy.

It starts:

"If you say you are an artist, but you make little money from selling your art, can your work be considered a profession in the eyes of the Internal Revenue Service?"

http://www.nytimes.com/2014/10/07/arts/design/tax-court-ruling-is-seen-as-a-victory-for-artists.html

Although we are not in the fine art world for the most part, many of us dabble and do gallery shows, etc.

I do not know any freelancer with a business plan, but they still make a living and that can vary wildly from year to year. You can kind of plan but there are a LOT of variables.

The upshot of the ruling is that you can make very little money and still be considered a professional artist.