Let's face it, bookkeeping is a somewhat mundane task, but a well kept set of books is the lifeblood of any business. Not only does it grant insight into incoming and outgoing funds, but it's also necessary to be compliant with Canada Revenue Agency standards. As an artist, keeping a well-organized set of books is often your very last priority, but negligence can lead to serious repercussions later.
We work with our artist clients to develop a system of tracking income and expenses that is easy to manage from anywhere, and compose reports on a quarterly or annual basis. We keep you compliant with GST and PST, and generate the information required to complete your personal or business taxes in a timely, organized, and effective fashion. We also work closely with our clients to help them understand their obligations as a business.
The benefits to operating your artistic practice as a business are:
Income from art sales or other employment can be offset with annual expenses, thereby reducing taxes.
Operating professionally can open doors to other opportunities like grants.
You can focus on your artistic discipline rather than worrying about administrative issues.