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It's almost tax time!

Discussion in 'Off Topic [BG]' started by DougD, Dec 27, 2002.


  1. DougD

    DougD Bassman7654

    Sep 19, 2002
    North Las Vegas NV
    (Dummy Disclaimer)
    I'm not quite sure where this should go. So moderators please move to the appropriate forum if needed.
    (End of Dummy Disclaimer)

    Ok. It's getting to get close to tax time again. So I have some questions for all you pros/semi-pros/part-timers out there. How do you go about figuring out how much to pay? And can you deduct the cost of equipment and or maintenance? What about playing for a church? Would that be considered as a deduction (especially if you are not monetarily compensated)?

    I play for my church twice a week (for which I am not paid)
    I also have gigged in several local bands this year (for which there was very little compensation)
    I have a full time job and was just wondering how this is all sorted out.
    :)
     
  2. temp5897

    temp5897 Guest

    If playing for church is tax deductible I can deduct umm...almost 15,000 dollars this year! I somehow think that is not the case though.

    I do all my own taxes...just takes me an hour or so. I don't have very complicated things to calculate just some school stuff and regular income and I am done.
     
  3. DougD

    DougD Bassman7654

    Sep 19, 2002
    North Las Vegas NV
    Yea. Mines not that complicated either. I was just wondering if it would be worth it for me to try to itemize this year ;)
     
  4. temp5897

    temp5897 Guest

    So can anyone comment on making deductions for church? :D
     
  5. DougD

    DougD Bassman7654

    Sep 19, 2002
    North Las Vegas NV
  6. It's something I have discussed with my tax guy. Playing at church is volunteering - not deductable.

    If someone has a different POV, let me know...

    Jeff
     
  7. Aaron

    Aaron

    Jun 2, 2001
    Bellingham, WA
    I'm pretty sure you can deduct anything music related that you buy. That includes CDs, equipment, performance attire, recording equipment/software, a computer (if you use it for anything music related), etc.
     
  8. Brad Barker

    Brad Barker Supporting Member

    Apr 13, 2001
    berkeley, ca
    but that's if you are considered a professional musician, correct?
     
  9. Aaron

    Aaron

    Jun 2, 2001
    Bellingham, WA
    Yes, i think they are only deductions from income from music.
     
  10. Only if you receive income. Otherwise, it's consider a hobby.

    Jeff
     
  11. lump

    lump

    Jan 17, 2000
    St. Neots, UK
    Doug,

    Don't forget that in order to claim your gear, you would have to declare the income you made, and pay taxes on THAT (AND the guy who paid you would have to cough up a 1099 - good luck). Unless you're starting to make big bucks that would attract the IRS' attention, you're probably much better off just getting paid under the table. And once you start declaring income from playing, there's no going back. Unless you're really starting to make some serious cash, you would probably be shooting yourself in the foot by trying to claim your gear.