Recently, our Managing Partner, Brad Ebenhoeh took some time to talk with local Charleston artists and creatives at the Redux Art Center, February 27th.
Brad’s speaking engagement was part of a regular series, called Studio Seminars. They are informal, roundtable discussions that serve as professional development for artists. The talk helped local artists, of both full time and hobbyist statuses, understand the accounting and bookkeeping requirements of their unique industry.
About Redux Contemporary Art Center
Located on King Street in Charleston, Redux Art Center is a non-profit dedicated to fostering creativity and the cultivation of contemporary art. They do this by offering diverse exhibitions, offering affordable studio space to visual artists, and by facilitating meaningful education and outreach opportunities, such as the Studio Seminars series. In addition to the series, they hold year round art exhibitions, a lecture series and internship opportunities.
If you are a creative in Charleston, chances are Redux has a great opportunity for you to practice and grow your craft. In addition to its 38 private artist studios, it has the only community printmaking and darkroom facilities in the Lowcountry. Pretty cool. To see the full rundown on their mission and see events, check out their website and follow them on social media.
Accounting Needs of Creatives - Know the Basics
For the majority of the artistic clients we work with, accounting is not their strong suit. Accountfully takes on their books, so they can focus on being creative. This audience was no different. The crowd was a good showing of about 25 people of various levels of business. A few had established artistic endeavors, while the majority were the more classic W2 employees looking to grow their artistic side gigs. Seeing as the event was held at the end of February, the majority of questions surrounded income tax filing. Other tax related items, such as how (and where) to report sales tax on selling goods, like a painting, came up.
For those looking to establish and grow a creative business, the basics were mostly discussed. Simple bookkeeping subjects like what type of business entity makes the most sense for each scenario, what systems to use, and when and how to pay yourself once you do make money also came up. While we can’t tell you when it’s time to make the leap from side hustle, to full time, we can help you establish and maintain the systems necessary to know your numbers.
More Bookkeeping Basics are on the Website
Lucky for the attendees of the event, they got the full attention of Brad to ask questions and discuss topics live. For those that need more insight and want to learn the basics at their own pace, a lot of great information to get started is on our website. Both the Accountfully blog and resources pages offer a wealth of information and are updated regularly with new content.
If you are a creative type in need of some bookkeeping and accounting assistance, let us know. We’d love to hear all about your business and offer ideas on where Accountfully can help.