Working musicians: Let's talk taxes.

[Benjamin Strange]

I'm entering into the beginning of my first full year as a full time professional musician, and I want to make sure I do it right when it comes to finances and taxes. I'm keeping track of my earnings, keeping all my music related receipts, but I'm trying to figure out a way to do all this in a logical manner. I'm envisioning some sort of calendar or spreadsheet type of program to use which would simplify things when tax time comes - what are you guys using?

How do you guys keep track of all this stuff? What tips can you provide the uninitiated? What do you do to stick it to the Man?

I'm open to hearing about all kind of musician / tax related issues. Bring it!

[Steve]

Talk to Donnie.
It'll be the best Tax thing you've ever done.

http://donniecastleman.com/

[Rattman]

Whoa! I loved that page so much that I saved it so I can read it again. That guy really seems to have his life/career together quite well. Talk about being focused.. geeeez.. amazing

[pointbass]

Originally Posted by Steve

Talk to Donnie.
It'll be the best Tax thing you've ever done.

http://donniecastleman.com/

First of all .... WOW, that is a great, great resource While no longer a full-time profession for me, music is still a very active 2nd income, so I need to be organized, and that link is very cool ...

My single biggest tip to you is to keep very good track of all of your receipts. My second suggestion is to regularly (and very frequently) write down all of your info (the above tax info link looks like a beautiful way to get organized!). In both cases, you'll find that good record-keeping will benefit you in a lot of ways ....

If you don't have an accountant/tax person, get one that you trust .....

[markjazzbassist]

WOW, i wish i had known all that before the end of the year, i would have saved a lot more recipts. oh well, good to know for next year. Thanks!


THANKS SO MUCH WHOEVER POSTED THIS