Paintings sold in 2011 – Day 59

It’s tax time. Although it’s not my favourite thing to do, I do my own tax return, so I’m busy going through files and trying to get everything together. I report all the revenues and expenses from my art business and up until now it’s been pretty minor. I think I only sold one painting in 2010!

Having two exhibitions in 2011 really increased my exposure and I ended up selling four paintings. I’m hoping to increase that number in 2012 and I’m well on my way with two commissions already! I worked on the reflection of the boat this morning on Tied to a Dream….laughing at myself for still not working on the boat itself.

Here are the paintings that were sold last year:

Waterfall

Waterfall - 30" x 40" oil on canvas

Tempted

Tempted - 16" x 20" oil on canvas

Roses

Roses - 11" x 14" oil on canvas

Pink Lilies

Pink Lilies - 11" x 14" oil on canvas

8 thoughts on “Paintings sold in 2011 – Day 59

  1. accountingservicestucson

    While your artwork is certainly beautiful (as I do my own as well), I do wish to let you know one thing and that is to be careful that the IRS does not penalize you if they believe your business is a “hobby” rather than a business-for-profit. With the hobby loss rule, you cannot deduct expenses such as your art supplies, equipment, etc. I hope that you continue doing what you love. Therefore the IRS will not only penalize you but require you to pay extra taxes. Good luck and best of wishes. Truly.

    1. bstonehouse

      Thank you for that info! I’m in Canada so the rules are a little different on that. I’ve been claiming my business for the past few years without any problem – so far, so good. I’m hoping to be successful enough in 2012 that it makes it worthwhile hiring an accountant to take care of it!

    1. bstonehouse

      Thanks! Waterfall was pretty challenging as I hadn’t done something that large before. It was also done under a deadline so it would appear in the exhibition.

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