This workshop with CPA and attorney Michael Goldberg focuses on tax planning and compliance issues for freelancers and artists to consider. Topics will include choice of business entity (corporation, LLC, sole proprietorship), worker classification (employee vs. independent contractor), tax filing requirements, tax deductions, expense deductions for home office and equipment purchases, IRS recordkeeping requirements, sales tax considerations relating to sales of artwork and purchases of art supplies, so-called ‘hobby loss rules’ and deductions for retirement plan contributions. The focus will be practical applications of tax rules to specific situations.
Michael Goldberg is a tax partner in a CPA firm and has been the tax accountant for SVA for many years. He has published numerous articles on corporate and individual income taxation focusing on small and medium sized businesses.