If this isn’t your first rodeo in the tarot business, then everything provided here is going to be familiar to you. However, newbies might be able to get some pointers from this post, so I write this for you, dear professional tarot newbies.
Once you decide to go professional as a tarot reader, even if it’s a side business you do a couple hours every other day, it’s still a business. You’ll want to decide on the form of that business, whether it is a sole proprietorship, limited liability company, partnership, or corporation. I talk about that a bit in a chapter of my forthcoming book Holistic Tarot (due out January, 2015, though you can pre-order it now, here from Random House or here from Amazon or here from B&N; what, you didn’t think there’d be a shameless self-promoting plug somewhere in here?).
The following info would generally apply no matter what business form you take. Even if you’re doing your tarot business as you and are just filing a Schedule C with your personal tax returns, this information here will apply.
This post will cover your NAICS code (and what that is, if your mind is already drawing a blank), an overview of your deductible expenses as a tarot professional, and record-keeping. Oh, and it applies only to tarot professionals working in the U.S.