#129 Hope Barron: CPA and Artist Gives Accounting Tips for Artists
Hope Barron is a CPA in Wellington, Florida. Not only that, she’s an artist in her own right, so she understands when artists need to buy more equipment before they’ve even made sales, and when they need to hire an assistant to help them with their administrative tasks so they can concentrate on making art. Hope makes beautiful fused glass, and she uses that as her creative release to balance her time with her thriving tax accounting and consulting practice. We’ll talk about her glass for a little bit, then we’ll dig into the world of business and accounting. We talk about: how to set up your business how to keep track of your sales and expenses, how you will report your taxable income to the IRS the tax benefits of having a home office or studio what you need to do when you’re ready to hire employees and how you can set aside some money for retirement. Listen here or use a podcast app, such as Apple Podcasts, Castbox, Spotify, or Stitcher. Hope Barron This is her glass piece before it is fused in the kiln. The top one is the piece after it was fused. Hope Barron is located in Wellington, Florida. Her firm is Barron and Kogan CPAs. If you are not in the Palm Beach County, Florida area, Hope suggests that you talk to your artist friends and small business owners to get recommendations for local CPAs in your area. Here are some great takeaways from our conversation: Hope has taken fused glass classes with a local glass studio called Northwood Glass Art and Gifts in West Palm Beach, Florida. She has established a relationship with the owner of the studio who has become a mentor to her. Local shops are a great way to find experts in your art medium so that you have a source for answers and an opportunity to learn more advanced skills. Local stores are also a great way to use larger equipment that you may not be able to afford or fit in your own studio. Hope has a small kiln for fusing glass in her home studio, but she uses the larger kilns at her local glass store to fire bigger pieces. Fused glass is fun for Hope because it’s a very forgiving medium. It’s also a nice surprise when you see the finished piece. If you’re looking for an art medium or technique to try, search for classes in your area so that you can try it and see if it gives you as much joy as fused glass gives Hope. Now for the accounting and business tips. First of all, we’ll about how you set up your business. When you start making art, and then you start selling your art, you need to first decide if your artmaking is a hobby or a business. Even with a hobby, you could be selling your art, but it may just be that you’re wanting to sell enough just to…