Free Spreadsheet: Monthly Tax Savings + Sales & Income Tax Calculator (30% Income Tax)
Download includes a ready-to-use spreadsheet for independent artists and small creative businesses to:
Track monthly income and expenses
Calculate sales tax collected and owed
Calculate suggested monthly tax savings based on a 30% effective income tax rate
Tips for artists
Keep sales tax collected in a separate business savings account so you don’t spend it.
Track expenses carefully; deductible expenses reduce your net taxable income.
If you expect major variance in months, consider keeping a running average (last 3 months) for more stable tax savings amounts.
Consider meeting with a CPA annually to confirm your estimated save rate and ensure you’re accounting for deductions and credits.
Free Spreadsheet: Monthly Tax Savings + Sales & Income Tax Calculator (30% Income Tax)
Download includes a ready-to-use spreadsheet for independent artists and small creative businesses to:
Track monthly income and expenses
Calculate sales tax collected and owed
Calculate suggested monthly tax savings based on a 30% effective income tax rate
Tips for artists
Keep sales tax collected in a separate business savings account so you don’t spend it.
Track expenses carefully; deductible expenses reduce your net taxable income.
If you expect major variance in months, consider keeping a running average (last 3 months) for more stable tax savings amounts.
Consider meeting with a CPA annually to confirm your estimated save rate and ensure you’re accounting for deductions and credits.
