#30883 - Taxes for Artists | Web37 Daily 020

Event ID: 30883

Description: Artists around the world are turning to NFTs and blockchain technology to make a living selling their art, with that, many NFT artists are curious to know how to report their sales on their taxes. Thankfully, we had the chance to sit down with Alex, who’s an NFT CPA to discuss this exact topic.

As an NFT artist, all NFTs that you create and then sell are taxed as ordinary income. Just like creating and selling a piece of art in the real world, NFT art isn’t taxed much differently. Additionally, NFT artists are eligible to receive various tax deductions for their supplies, events, and even certain gas fees.

To learn more about how NFTs are taxed and what’s considered deductible, check out the full article linked below!

Twitter
@TheNFTCPA
@137pm

Date: 3/01/2022
Codes requested: 937
Distribution method: website

DISCLAIMER: Just a heads up I requested a website for today’s POAP instead of the typical secret word. We have done this in the past during our 25 Days of POAP. We want to embed the mint link into an article on our website and then tweet out the article and pin it in our twitter space so those listening can mint. We want to get away from the secret word because every time we do it we find that the phrase gets shared in other discords and the people who aren’t in the space claim the POAP. So we want to do this method to get away from farming.

cc: @frankie @Fio

1 Like

The POAP itself has been approved, just don’t have any way of distributing it. I just requested a secret word if that works better but we have done the embed link in an article before and it worked great!
cc: @frankie @Fio

:wave: @ONE37pm

You should have been able to distribute. Information covered via additional correspondence.

Let us know if you require further assistance!!

All the best
The POAP Curation Body