Numbers for Artists - making money, being secure and paying tax

A lot of artists I know are not too happy with numbers or managing their money. It's enough to make you wonder if creativity and counting don't really go together

By way of contrast a number of very successful artists I know are well organised and on top of their numbers - and their taxes, their insurance, their pension and their legacy!  They've achieved this:

• Sometimes with the help of professionals and
  
• sometimes due to the dedication of the artist and/or their partners and family to learn more about how best to deal with the numbers side of art.

The purpose of this section is to

• try and help artists improve their awareness of information available online about money and taxes and how to access it.
• provide summaries of expert advice.

​NOTE: I do NOT provide professional advice - see below

The Money and Tax section provides advice and information about:

• ​How to Price Your Art ​- various aspects of pricing 
  • How important is price when buying art? 
  • Options for pricing art 
  • Terminology and formulas for pricing art 
  • Art experts on pricing art
  • How artists price their art 
  • What's the price of affordable art? 
• Payments to Artists including 
  • Paying Artists
  • How to Create an Invoice
  • Artists' Grants, ​Scholarships and Bursaries
• How to work out profit from an art sale
• Insurance for Art and Artists - for Art, Art Studios, Artists, Art Galleries and Art Collections including 
  • ​In the UK
  • In USA and Canada
  • plus Insurance for Art Teachers

• Tax Tips for Artists 
  • Tax on art awards and prize money
  • UK: Tax for Artists 
  • UK: Self Assessment Video Tips
  • USA: Tax for Artists 
  • Ireland: Tax for Artists 
  • Australia: Tax for Artists ​
• VAT for Artists 
• Retirement & Pensions for Artists
• The Art Legacy 
  • Estate Planning for Artists​
  • Estate Planning for Art Collectors
  • Famous Artists Estates
  • Artwork Inventory
  • After the Death of an Artist
  • Copyright and Resale Rights for Heirs
  • Art and Inheritance Tax

What this site does NOT do....

The information on this site can be found elsewhere online. I've just pulled it all together so people can find it!
​Any advice provided comes with no liability

This site does NOT provide:

• Definitive answers on matters relating to legislation and regulation on money matters and tax records for where you live. 
• "Professional advice" available from somebody with an accountancy or tax qualification, membership of a relevant professional institute and CURRENT expertise of accountancy requirements or tax affairs anywhere in the world. ​

I RECOMMEND you pay a properly accredited professional for accountancy or tax advice IF:

• your monetary or tax affairs are complicated 
• you have a specific query which you can't find an answer to from official information that is available online.

I have no liability to you because although I was a qualified accountant I have now retired. ​I am no longer a member of my professional institute. Consequently I no longer have any obligation to remain up to date with relevant legislation and standards etc. - and you are NOT a client.

The Moneychanger and his wife by Marinus van Reymerswaele (Source: Wikimedia Commons) Location: Museo del Prado

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