OK, I know Art and taxes seem to be like oil and vinegar, right?  They don’t quite mix.  In the shower this morning, though, I was having all kinda fun seeing how the two can come together and mix up into something really nice like peace of mind, pride for paying the least legally, fulfillment to keep creating and producing the art we love.

So, my process went something like this:

Artists are creative.

They let their juices flow to develop, bringing elements together to produce a finished product that is seen as valuable.   The parts will need to fit together to make a desired whole or outcome.

As so with me when I am coming up with tax strategies.  How will I position myself this year to pay the least legally.  Maybe I’ll purchase some needed equipment that will give me a 100% write-off and give me an edge to produce more, giving me greater gross income and net.  Or, maybe I’ll get my family more involved and teach my children entrepreneurship by hiring them in my business.  I will write off (deduct) their pay as a wage deduction, and since they are under age 18, I will have to pay no Social Security or Medicare tax and, normally, no state unemployment or disability taxes, either.  I love this aspect of taxes where my juices are flowing as I think “okay, what are the best strategies for this client, given their goals?”

Start with the end in mind

I believe artists employ this one.  In the shower, I decided that I will have the attendees do this — visualize and see how they want their tax circumstances to be:  I expect folks might say …

• I have no tax debts
• I have peace of mind when it comes to my taxes
• I pay the least legally
• I take full advantage of every tax break, deduction and credit due me
• I have fun deciding on the best tax strategies for my life and circumstances
• I have all the support and assistance I desire and need to feel joyful, peaceful and powerful regarding taxes

My pondering came together when I realized that one crucial piece that artists and tax strategists share is that we are working to bring a story together.  My daughter Ife decides the story she will tell before she picks up her camera to take the photograph; my quilting friends decide the story they will tell before they stick one piece of fabric to another.  Tax preparers like to start with the end in mind (tax planning) too; we create a story that is one of success (the outcome we want).

I can’t wait to get to the workshop tomorrow.  Taxes:  for as much of the science we figure it can be (the tax code), is indeed an art, and we gone be creating some stories of success and some creative strategies to bring those stories to fruition.

Join us at:

The New Arts Exchange

750 Kalb St., SE
ATL, GA 30312
For more information: 770-621-2686