I’ve just come in from thinning the fruit on one of our apple trees. This is a task I don’t enjoy. Every time I pull off a small unripe apple, I’m disappointed about the loss of the big apple it could have become. (Clearly, I was never meant to be[…]
If you’re selling your artworks, you should consider tracking your net income from your art practice: that’s how much money you make after subtracting out expenses.
Why? Because only by calculating net income will you know if your art practice is profitable (“Can I quit my day job yet?”) and whether you might owe the government money in taxes.
In this post, I share how I track my net income as an artist today, and how I got here. I also provide a spreadsheet you can download to get started tracking yourself.