Welcome to the Stellar Bookkeepers Knowledge Base, your go-to resource for all things related to bookkeeping, accounting, and financial management. At Stellar Bookkeepers, we understand that managing your finances effectively is crucial for the success and growth of your business.Ā We're here to simplify your financial journey with expert insights, tips, and resources.Ā Thanks for choosing Stellar Bookkeepers as your financial partner!

Navigating IRS Reporting: Do Art Galleries Need to Issue 1099s to Artists? Dec 05, 2023

Not all payments made by a business require the issuance of IRS Form 1099. The determination of whether to issue a 1099 to artists working with an art gallery depends on various factors, including the nature of the payment and the relationship between the gallery and the artist.

In the context of...

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S-Corporations 101: Maximizing Savings and Potential Pitfalls Oct 09, 2023

In this two-part series, we'll explore how S-Corporations can help you save money and why they might not always be the best choice for every business.

 

Part 1: How S-Corps Save Money

Before we delve into the money-saving aspects of S-Corporations, let's understand your options when it comes...

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Navigating IRS Rules on Client, Employee, and Vendor/Contractor Gifts ā€“ What You Need to Know Oct 06, 2023

Navigating IRS Rules on Client, Employee, and Vendor/Contractor Gifts – What You Need to Know

As your dedicated bookkeeping partner serving the creative sector, including galleries, art advisors, art dealers, artists, graphic design agencies, and more, we strive to keep you informed about...

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5 Common Bookkeeping Mistakes Art Galleries Should Avoid Oct 05, 2023

Managing an art gallery involves a delicate balance of creativity and financial acumen, and bookkeeping plays a pivotal role in maintaining that equilibrium. In this blog post, we're shedding light on five common mistakes art galleries make when handling their own bookkeeping.

1. Neglecting...

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Navigating Sales Tax Compliance in the Art World - New York Oct 05, 2023

 

In the intricate world of the art market, few words are as unsettling as "tax compliance investigation." While it might not be a topic that captures everyone's attention, tax compliance is a critical aspect of the art market that affects galleries, collectors, and auction houses alike....

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