Master Class: Tax Basics for Creatives with Elaine Grogan Luttrull, CPA
About this Master Class
Master Classes are in-depth, interactive learning experiences focused on craft and career building and led by renowned industry experts. Topics include fiction and documentary filmmaking, TV writing and production, and navigating and succeeding in the entertainment industry.
If it is true that the only certain things in life are death and taxes, this workshop will make navigating one of those things considerably easier. Join CPA Elaine Grogan Luttrull, as she reviews federal income tax basics for creative individuals, including how the tax landscape changes based on the type of income an artist earns. We’ll also discuss common deductions claimed by creative entrepreneurs and key aspects of tax law that impact financial wellness, including deducting interest for student loan payments and saving for retirement. We’ll conclude by reviewing some tips and best practices to keep excellent tax records. As the founder of Minerva Financial Arts, a company devoted to building financial literacy and empowerment in creative individuals and organizations, Ms. Luttrull will share her expertise on how to empower yourself to connect financial decisions with your creative goals in this live three-hour online Master Class.
Topics covered include:
- Identify ordinary and necessary deductions common to creative businesses.
- Review the overall income tax landscape for federal and state filings.
- Identify records to retain for tax purposes and effective systems for tracking expenses and income.
Table of contents:
- Welcome and intro by Sundance Co//ab: 0:03 min
- Welcome Elaine and intro to the Master Class: 04:10 min
- First Module: Entity Types: 7:57 min
- Second Module: Getting Paid: 32:00 min
- Third Module: Business Deductions. What can I Write Off 47:32 min
- Fourth Module: Recordkeeping Strategies. What Should I Keep? 1:32:23 min
- Fifth Module: Recap and final questions 2:30:27 min
If you have tax-related questions for Ms. Luttrull, please add them to the discussion area below.
Resources:
Download the list of resources from Elaine Grogan Luttrull, CPA
Master ClassTeam
Elaine Grogan Luttrull
Instructor
Elaine Grogan Luttrull, CPA-PFS, AFC® is a financial educator who believes financial knowledge and habits can lead to creative empowerment. She leads Minerva Financial Arts, a company devoted to building financial literacy and empowerment in creative individuals through workshops and one-on-one advising. Her workshops have been featured nationally by funders, state and local arts councils, and colleges and universities that serve creative individuals.
Elaine also teaches at the Columbus College of Art & Design, where she served as the Department Head for Business & Entrepreneurship from 2014-2018. Previously, Elaine served as the Director of Financial Analysis for The Juilliard School and in the Transaction Advisory Services practice of Ernst & Young in New York. She is the author of Arts & Numbers (Agate, B2 2013), and she contributed regularly to Professional Artist magazine. She is based in Columbus, Ohio where she serves on the boards of the Short North Alliance, Healing Broken Circles, and the Lark Play Development Center.