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Friday
May022014

Money: Reality Check Post Tax Time

Make improvements to your bottom line now.

Estimated reading time: About 5 minutes

I'm in favor of making big changes one step at a time.
No need to make life more complicated.

My mantra is "Progress, not Perfection."
No point in making yourself feel bad while you are trying to get better.

In that spirit, every year I try to submit my documents and receipts a bit earlier to my tax accountant. This year I beat my deadline from last year by a month.

Am I celebrating?

No, because I didn't check the mailbox soon enough to sign and mail the completed tax forms my accountant had prepared. I missed the April 15th deadline by 48 hours.

Arghhh (with a forehead slap). That's going to cost me and it's embarrassing to admit, but true.On the other hand, you can bet I won't make that mistake again! I've already added a daily post office box trip to my checklist for the two weeks before my sales tax return is due in July and my 2014 tax prep.

What's Your Money Misfit?

Being organized and meeting deadlines is only one part of managing your art business finances. And it's actually the easy part once you know what to do when and follow a system.

The real culprit is often that little voice in your head (that in my case sounds like my father) that tells you all kinds of things about money that could get in your way.

You can still love your father, but let that little voice know that you have learned from what he taught you and have a handle on all things money related.

Well mostly.

"When it comes to $, we are not working with a blank canvas. We have lots of history and emotion when it comes to the topic of $... Some of those old beliefs may be limiting what's possible for us now. It might be time to take a look at those beliefs and see if it's time to challenge or let go of the ones that are no longer serving us. Think of a closet, before you can stock it with lots of beautiful new things, we have to do a little housecleaning and throw out the old junk and clutter." ~ Successful fine artist and workshop leader Pat Fiorello.


How to Master Money

Pat and I agree that, with a little help and some information:

  • You do not have to feel helpless now or be fearful about the future.
  • You can change the "tapes" running in the background.
  • You can create your art business with the resources you have.
  • You can grow your business as you have more to invest.
  • You can develop a realistic plan to achieve your financial goals.

In the privacy of your own studio, you can redesign your
financial future with a home study version of    

 

"Making Money as an Artist: Taking Charge of Your Bottom Line."

You Are Not Alone

When we launched this class, we created a mastermind for artists who knew that when it came to money, they could do better.

See if you share any of their thoughts.

For most of my life, money wasn't my first priority so long as I had enough to cover expenses with some extra. Now I'm 51 and realize I have to start saving for retirement. I'm very healthy, but there will come a day when I won't have the stamina I do now. Also, to be honest, I'm tired of being bored. Ever since my husband died 11 years ago I've had this fear about the wolf at the door. I'd like enough money to keep the wolf at bay.

I want to feel more grounded and focused in the area of money. My bottom line is I want to be able to make more money and KEEP it as well as feel the flow of it coming and going in my life. More emphasis on the coming than the going ☺ While my business is definitely growing; my business debts are growing too. I know businesses often carry debt load, yet I want to reduce mine while growing my business.

At best my money ideas are somewhat skewed.  I would like a better understanding of past financial issues that create problems, work them out and advance my ability to zero onto the properties of finance that will stabilize and increase my monthly income.  I want to develop a clear and positive strategy. Bottom line, I want to cut expenses, increase savings, and develop a sound financial plan.
 
I would like to know how to budget my art money in a simple but effective way. I do like to help my household and give to charities very much and need to feel more confident that I am managing the business side of the Art money so that I can give well.

Taxes...what to do so that I don't pay too much? I have long been working hard on deductions and business expenses, but am concerned that now I am making more, I will be paying out a lot more. I am good at keeping books, but just don't feel the business sense about it all.

Did any of these resonate?
No - great! You probably don't need this course.

Yes?  Used as directed, "Making Money as an Artist: Taking Charge of Your Bottom Line" can improve your relationship with money; how you take care of what the resources you have and how to build a nest egg for your future.
 
We created a home study version, so that you can work on your money gremlins in the privacy of your own studio at your own pace. And when you are done, you'll know what to do when and have a system to follow.

Past, Present and Future

#1: "Getting Past Your History with Money" uncovers your blind spots where past thoughts, upbringing and experiences with money may be limiting you today. You learn how to turn those beliefs around with a few simple questions you can ask yourself.

#2 "Getting a Handle on Your Money Today" shows you how to get clear on your actual financial results. To get your fears and hopes out of your head, you record them on a worksheet, so they can see the light of day, instead of waking you up at night.

#3 "Creating a Future of Your Money Possibilities" guides you in developing a realistic plan to achieve your goals.

There's a popular book by Marsha Sinetar called "Do What You Love and the Money Will Follow." If the money can follow, it can also run away, so do what makes sense and the dollars will stick around.

Ka-ching! Click here to keep more of the money you work so hard to make.

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Reader Comments (1)

I think that is one of the most vital info for me. And i am happy reading your article. However wanna remark on some normal issues, The website taste is perfect, the articles is really nice : D.

August 30, 2014 | Unregistered Commenterrajtax

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