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Heads Up to My Commissioners!
7 years ago
Well folks, 
WinterWight and I've looked over our 2017 taxes, and things aren't as manageable as we would've liked. Somehow, I'm scheduled to pay $1500 back, about three times as much as last year. Bleh! Either way, it looks like in order to keep from getting reamed every year by tax day as a self-employed artist, I'm actually going to have to -limit- my income so that I stay below the "poverty" line and not have to file, thereby not losing a ludicrous sum every April. Don't worry, I've got it planned out so I can still pay off everything I have to, and still feed myself and even have some left over for extras! This just means my queue may slow up a bit.
In other words, if our calculations are correct, everything will be cool if I
a) limit my monthly commissions to a total of $800 each month. If I hit that mark before the end of each month, it means I have to put my commissions on hold until the next month. This means the queue may be a little slower, but I'll be going through it more consistently.
b) keep blazing through commissions until I make a total of $9600 for the year, and then wait until next year to start up again. This won't slow the queue any further, but may mean I won't take commissions for the last few months of the year.
c) mange to get some sort of -legit- at-home job that provides me with actual W-2's etc, so I can write off my art and commissions as a hobby instead.That'd be nice, but I've yet to hear of a "work at home" job that doesn't sound like some sort of skeezy scheme.
Either way, there's no worries yet! I still have about $300 worth of commissions available for this month, and that's including everyone who's already paid or had been sent an invoice! Just figured I'd give you guys a heads up.
Also, if anyone out there -also- files taxes as a self-employed artist and knows how to keep it from hurting too much, send me a note or something!
WinterWight and I've looked over our 2017 taxes, and things aren't as manageable as we would've liked. Somehow, I'm scheduled to pay $1500 back, about three times as much as last year. Bleh! Either way, it looks like in order to keep from getting reamed every year by tax day as a self-employed artist, I'm actually going to have to -limit- my income so that I stay below the "poverty" line and not have to file, thereby not losing a ludicrous sum every April. Don't worry, I've got it planned out so I can still pay off everything I have to, and still feed myself and even have some left over for extras! This just means my queue may slow up a bit.In other words, if our calculations are correct, everything will be cool if I
a) limit my monthly commissions to a total of $800 each month. If I hit that mark before the end of each month, it means I have to put my commissions on hold until the next month. This means the queue may be a little slower, but I'll be going through it more consistently.
b) keep blazing through commissions until I make a total of $9600 for the year, and then wait until next year to start up again. This won't slow the queue any further, but may mean I won't take commissions for the last few months of the year.
c) mange to get some sort of -legit- at-home job that provides me with actual W-2's etc, so I can write off my art and commissions as a hobby instead.That'd be nice, but I've yet to hear of a "work at home" job that doesn't sound like some sort of skeezy scheme.
Either way, there's no worries yet! I still have about $300 worth of commissions available for this month, and that's including everyone who's already paid or had been sent an invoice! Just figured I'd give you guys a heads up.
Also, if anyone out there -also- files taxes as a self-employed artist and knows how to keep it from hurting too much, send me a note or something!
