Learning From Taxes Notes
Learning with taxes is a great idea and I try to do that every year. You can learn a lot from the business side of doing taxes. It tells me how much I am spending on art supplies, studio management, framing, business taxes, food and entertainment, auto, professional fees, etc. Marketing is a very important part of the picture I get each year. I get to decide, looking back, at what marketing paid off and what was a waste of my time. It is important to pay attention to both your sales, sizes, price ranges, and your expenses. There is great analysis in this material.
I learned that last year my cash donations were too many. I supported several political campaigns which is good. I believe in taking part in our political process, and supporting candidates, whether they win or lose. One of the organizations I supported generously last year was not worthy of my support. That is a resentful feeling on my part, I admit, but nevertheless, I will not continue to support the organization. The administrator felt that I had not participated enough, though I sent regular donations. My time is very limited. I run two studios, paint full time and teach, so there is no free time to hang around with volunteer hours. I was chastised for that, and so I will be supporting them no more. Part of looking back at expenses gives me insight into where I should be putting my disposable income. There are other organizations who will truly appreciate my donation. Lesson learned. Tomorrow I’ll get going on finishing the taxes and I’ll be relieved when that is over.
I did finish a painting this morning, this time in oils. I had started it about three weeks ago, left it on the easel while teaching, then traveling, so I got back to it today. I used a very limited palette, with lots of summer greens in the painting. It was fun. I’m planning to start an 18×24 tomorrow in oils, using a reference photo from my travels. I have partially finished paintings around the studio from my classes. Two plein air acrylic starts, one underpainting in oils, waiting for our next glazing class next month. I’m always learning to paint with my students.
I’m still thinking about that studio I toured on Monday. It seems like a good fit, but the rent is more than I wish to pay. I am thinking about asking sponsors to take one month to pay rent of 450.00 in exchange for a 600.00 value 12×16 painting. A real bargain for them and studio rent for me for a year. I only need 12 sponsors to get it done. Much depends on whether the landlord will run an AC vent into the room for me. I am waiting to see about that. I would not plan to take my work out of Paddiwhack, but would have a place to teach. It is in stasis right now, waiting on information.
More to come…..