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Finances for Artists: Home Studio Deductions

It's that time of year! We are celebrating, although differently this year, as we get ready to welcome in 2021! For artists and creatives, this is also another moment in time, gearing up for year-end taxes! If you are anything like me, and most artists I know, we didn't learn anything about money or taxes in school. I have stumbled through my own taxes fearfully wondering if I was doing them right. I KNEW I was losing out on money but I preferred that over attempting to find an accountant to help me. Why? Because I dreaded explaining to them what I did. It felt like I would spend the entire time trying to convey what an artist's life looked like and honestly, doing that sounded worse than losing money.

Fast forward to now, honestly, I am STILL learning about money. I am figuring out my taxes and how to feel empowered as a female artist when it comes to money. I still have "money shame" but way less than I did five years ago. There was legit a time where I championed being broke bc I didn't think there could be another way. Since then I've read books on money mindset, I have "leaned in" and out, I've worked on "manifesting money", I've worked my ass off in the studio, and I am a work in progress. I love talking to other artists in the same boat. We can support each other as we navigate the monopoly board! Screw buying all the hotels, let's start a commune! Artists supporting artists is truly the way for all of us to thrive which is why I am so happy I met Hannah Cole, an artist AND tax pro! The holy money grail for me!

I just jumped off an instalive with her which I highly suggest checking out if you are anything like what I just described. (you can check it out here) At the end of our conversation, we touched on Home Studios and she is sharing her FREE course on home studio deductions! she goes over how to make sure you are getting all the deductions you are entitled to with your home studio. I hope this helps you save some money as we go into 2021 guys!

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