Many artists choose an LLC business structure, which allows you to segregate your personal and business assets. Without separation of your assets,
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If you were being sued by your company for a slip and fall in your studio, you would be personally liable.Your personal property could be used as a payment.
The damage.
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Artists are solely accountable
It's you, your art, and a dream. Technically speaking, you are likely to be a sole proprietor. This means that you have the ability to make use of both your personal and business personal assets to help support your business.
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Both of you are tied. All the income you earn from your artwork when tax time arrives is reported on personal filings. This means that the income you earned through your work is included in your tax returns.
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Alle potential liabilities will be yours to take on.
