Elaine Grogan Luttrull is a CPA and founder of Minerva Financial Arts, a company that increases business and financial literacy for artists and arts organizations. She also runs the Business & Entrepreneurship department at Columbus College of Art and Design in Ohio. In this episode of the Thriving Artist Podcast, Elaine provides insights on the types of financial decisions that directly impact the purity of one’s art! Topics include:
- The big financial questions (budgeting, pricing, taxes…)
- Tax issues artists face
- How do artists choose an entity type?
- Impacts of entity types (for taxes, health care types, creditworthiness)
- Overcoming the emotional barrier of art vs. business concerns
- The “Starving Artist” stereotype
- How financial literacy impacts artistic purity
- What financial decisions say about an artist
- Pricing of art: intrinsic value vs. commodity
- Financial literacy as a path to more money
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