Artist Lab: Tax Preparation for Artists

Instructor Dr. Elaine Grogan Luttrull, a certified public accountant, personal financial specialist, and accredited financial counselor, reviews federal income tax basics for artists, including common deductions claimed and 2025 tax year updates. Elaine outlines how the tax landscape changes based on the type of income an artist earns and highlight key aspects of tax law that impact financial wellness, including deducting interest for student loan payments and saving for retirement. She touches briefly on some state and local income tax issues and conclude by reviewing some tips and best practices to keep excellent records.