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Bookkeeping and Tax Prep for Makers
Let's face it - bookkeeping and taxes (gasp!) aren't anyone's favorite parts of being a professional maker, but knowing the facts can make these important tasks less painful, and maybe even a little bit fun! In this presentation, Kristin will introduce the terminology, principles, and forms you will need in order to ensure that your business is in compliance with US federal law, as well as giving you an understanding of the overall financial health of your business.
We'll discuss allowable expenses, calculate your cost of goods sold and learn tips for squeezing all you can out of your deductions. Participants will leave with fillable worksheets designed to automate some of your year-end tax prep. Come prepared to participate, with a recent profit and loss detail for your business, a computer with internet access, calculator and notebook.
Please note: This presentation and workshop is designed for self-employed makers categorized as Sole Proprietors, who are required to file a US Form 1040 with Schedule C for their business. While many of the principles apply to businesses of any kind, the foxus will be on US Federal tax prep. City, State, and County laws vary widely, so check with your CPA for guidance in your area.
Meet the instructor
Kristin Mitsu Shiga is a hapa metalsmith, educator and arts administrator who has played a variety of roles in the arts since 1992. You may recognize her as the ringmaster of Metalwerx’s annual Virtual Spring Symposium!
From a long line of educators, Kristin is passionate about teaching and has had the opportunity to share with students at venues all over North America including Penland, Arrowmont and Haystack Mountain schools of craft. Her proudest achievements have been establishing nonprofit metalsmiting studios and programs that continue today in New York (OCM BOCES), Oregon (Multnomah Arts Center), and Hawai'i (Donkey Mill Arts Center).
As a maker, Kristin pursues projects that tell a story and actively engage her audience. Her solo work centers around one-of-a-kind wearable art and holloware with an aesthetic that has been described as a "marriage between her Japanese heritage and influences from her early explorations in architecture and the Modernist design movement." Her ongoing series, "Unfinished, Damaged & Broken" explores the significance of age and wear on common objects while protecting, bolstering or celebrating their hard-won imperfections.
Kristin has shown her work internationally, and is included in several notable collections, including the Kamm Artful Teapot Collection and the Permanent Collection of the White House. You will find her work published in numerous books and magazines, including Art Jewelry Today, The Art of Enameling, Metalsmith’s 2017 Exhibition in Print, and several of Lark’s 500 Series books. Learn more about Kristin’s past work on Oregon Artbeat (segment originally aired in 2010).
Materials & Tools
This workshop does not require any supplies or materials. We recommend having materials for note-taking. If you have Microsoft Excel or Numbers on your computer, they can be helpful, but all templates will be available as Google Sheets. The instructor will also be discussing the use of QuickBooks software for bookkeeping.