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Interesting Gig fell into my lap

Lead singer is already asking if we would think about it being a regular once-a-month gig. Oddest part of it all was the money. Seems the Lead Singer has an DBA/LLC because the ship/company owner requires it to pay out. So he is telling us that the gig will come with a 1099 to move the tax burden from his LLC to each of us.

That's not odd at all here in my state which abhors the gig economy and makes laws to cancel it. Maybe your state is roughly the same?
 
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Disclaimer: I am not a tax professional.

Depending on how much the gig paid, you might not need to report anything on your taxes. I believe you only need to report earnings that meet or exceed a threshold of $600, even if you were given a 1099. Anything less than that doesn't have to be reported.

Again, I am not a tax professional and my advice might be incorrect. Best to check before just casually omitting someting because "a guy on Talkbass said it was cool." :p

IANA tax person either but was 1099'd once for earning more than $660 with a band (possibly a typo for $600). Mainly here to say that the goal was to make this a monthly gig which will easily result in everyone exceeding the threshold. So, the OP should review suggestions made by others about tracking expenses, etc.




In general: I'm mainly a bar band guy, but more and more bars/restaurants are paying by check rather than cash. Sometimes it's individual checks (which can reduce the chance of 1099), otherwise it's one check to the BL. If the latter: good BLs come prepared to pay cash the night of the gig, rather than "I'll Paypal/Venmo/Zelle you later". I was with one band where members took turns accepting the check and providing cash to everyone else (actually this was a hardship for one of the members, so we agreed to exclude him).
 

RIP Jeppy
Oct 17 2020

Jeppy graduated from Walter Williams High School and soon moved to his beloved North Myrtle Beach, where he was an active member of the shag dance community. He taught shagging for 40 years at Fat Harold's Beach Club, estimating that he taught over 50,000 people how to shag. He was inducted into the Beach Shaggers Hall of Fame in 2005. Jeppy was retired from the Alabama Theater, where he worked for many years.

 
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So, the OP should review suggestions made by others about tracking expenses, etc.
Additionally, an understanding of audit exposure risk when using expenses to reduce taxable income is important. I've seen people get carried away with it by purchasing gear as an expense, then reporting a net loss for this type of income as a result. I don't know that any of them got audited for this practice, but it increases the likelihood of an audit, particularly if done on consecutive years, according to a CPA I spoke with a few years ago. Each person and/or their accountant needs to decide on a level of expenses relative to the income that they're okay with pursuing and should have all relevant documentation available to support the claim should it come up during an audit.
 
The Swinging' Medallions are still going in some form and play in SC and GA quite a bit. Their big hit "Double Shot..." features a Farfisa organ borrowing a bit from "96 Tears". They had one other minor hit "She Drives Me Out of My Mind" which is pretty much forgotten.
 
I remember playing that song when it first came out. That chord progression is used in a lot of different songs with different rhythms - for instance "Monster Mash" uses the same progression starting in G (G,E,C,D). Old stuff!

Yep. A "universal" set of changes. About the only more ubiquitous change pattern was the "three-chord holler song" I-V-V, used in things like "Louie Louie" and "Get Off My Cloud."
 
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