Break out the cheese – I just finished my inventory!
I’m not sure if I should be embarrassed or proud. I just finished the inventory of my studio for the 2008 tax year. I’ve been working from home for 3 months now and it took me longer to do my inventory this year than it did last year – when I was working full-time out of the house.
Now I have about 2 1/2 weeks to do my taxes. I actually like doing taxes because I love math. My hubby and I keep really good records, so the process should be pretty smooth.
Well that was stupid. I just cursed myself. [cue thunder]
Every year, I wonder if there’s a way for me to streamline the whole inventory process. Unfortunately, I just end up getting a bad feeling in my gut and end up going overboard in measuring paper, bookcloth, and board in square inches.
It’s just that I’ve heard horror stories about artists being prime targets for IRS audits. I have nothing to hide, but I figure if I’m anal right from the start, then it will mean less work if the A-word comes to pass.
[just indulge the delusion]
If you’re an artist, use an actual accountant instead of TurboTax, and you have received advice on how to better handle your annual inventory, I’m all ears. Mostly because my fingers are tired from using the calculator all day.
I need cheese.