How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Megan C Your Own Question
Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 16576
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
23669918
Type Your Tax Question Here...
Megan C is online now
A new question is answered every 9 seconds

Hi, Im a foreign student thinking about selling my artwork

This answer was rated:

Hi,

I'm a foreign student thinking about selling my artwork online. Do I have to pay any kind of tax?

MyVirtualCPA :

Thanks for asking your question! I'm sorry to hear about your tax issue and I'm going to try my best to help you understand or resolve it.

MyVirtualCPA :

Yes, you will be responsible for federal, state, and city income taxes (if you are in New York City) on the profit you generate from the sale of your artwork

MyVirtualCPA :

If you sell within the state of New York to customers, you will also be responsible for collecting sales tax on that sale

MyVirtualCPA :

but, if you sell to customers in other states you would not have to collect sales tax

Customer:

Oh. so I collect 8% of my artwork price from the buyer from NY, right?

MyVirtualCPA :

Correct and remit that to the state

Customer:

Am I allowed to ask just 1 question?

MyVirtualCPA :

What other questions do you have?

Customer:

Ahh. Federal and city tax, what are they like?

Customer:

I'm not sure but I heard that or federal taxes, there are many kinds.

MyVirtualCPA :

I don't know what rate you would pay, because I would have to review your entire return

Customer:

Oh. That's for federal?

MyVirtualCPA :

yes, and city/state

Customer:

Aw that's a all of them.

MyVirtualCPA :

Yes

Customer:

My last question, what would you recommend for reading, about taxes?

Customer:

cause it seems like I would have too many questions and that's going to take too much of your time.

MyVirtualCPA :

You can review the IRS website for Federal tax information

Customer:

Oh

MyVirtualCPA :

I would pay attention to the articles on tax for non-resident aliens

Customer:

gotcha

Customer:

ok

MyVirtualCPA :

Is there anything else I can help you with today?

Customer:

that was a great help already

Customer:

thank you very much

Customer:

have a goood day

MyVirtualCPA :

Glad I could be of assistance. Once you are satisfied with this communication, please rate as "excellent" so that I may receive credit for assisting you today

Customer:

OK! :D

Customer:

byee

MyVirtualCPA :

Bye

Megan C and other Tax Specialists are ready to help you