Taxes
5 December 2004
USA
=== I'll see how much I can expand this page without taking on too major a task. US Tax law is designed to victimize the uninformed and the uneducated. Yes, some of these labels are in some aspects black market economy. You can, however, save all receipts and write off all expenditures, possibly even against earnings at your day job if you have one. You must then claim all earnings, but if you are like me and spend most of your income on music related crap, you totally deserve to write this stuff off. Your earnings will probably be mostly deducted anyway. Why not get a real life anyway ? If you are spending a lot of money, get a tax accountant, it will pay for itself. Do your taxes online. Tax law is designed to be indecipherable to normal humans, tax accountants have cool computer programs. Professional tax accountants will only cost you about 100$ and will save you hundreds and hundreds of dollars. You have no idea how many weird tricks there are in tax law. And then when the IRS drags your ass in, you have a professional to back you up. Labels
====== Dealings with distributors and artists should always be treated legally in all respects. If you are a musician spending lots of money buying and selling equipment, you can and should write this stuff off. Save all receipts. Get a shoe box and a bunch of envelopes. Each month put the receipts in an envelope and seal it. DJs
=== If you are a dj buying lots of vinyl, you can write all this stuff off. You will have to claim your earnings. This is easy if you are in clubs, raves are pretty black market, but that might change. If you are driving to gigs all the time, you can write all the mileage and food off, if you can stand the bookkeeping. I can't. Sorry, you can't write off all of your clubbing lifestyle. You can't write out going to parties for "research purposes". In some cases you can write off clothes that are meant only for onstage. Record Stores
============= See Running a Record Store
=== I'll see how much I can expand this page without taking on too major a task. US Tax law is designed to victimize the uninformed and the uneducated. Yes, some of these labels are in some aspects black market economy. You can, however, save all receipts and write off all expenditures, possibly even against earnings at your day job if you have one. You must then claim all earnings, but if you are like me and spend most of your income on music related crap, you totally deserve to write this stuff off. Your earnings will probably be mostly deducted anyway. Why not get a real life anyway ? If you are spending a lot of money, get a tax accountant, it will pay for itself. Do your taxes online. Tax law is designed to be indecipherable to normal humans, tax accountants have cool computer programs. Professional tax accountants will only cost you about 100$ and will save you hundreds and hundreds of dollars. You have no idea how many weird tricks there are in tax law. And then when the IRS drags your ass in, you have a professional to back you up. Labels
====== Dealings with distributors and artists should always be treated legally in all respects. If you are a musician spending lots of money buying and selling equipment, you can and should write this stuff off. Save all receipts. Get a shoe box and a bunch of envelopes. Each month put the receipts in an envelope and seal it. DJs
=== If you are a dj buying lots of vinyl, you can write all this stuff off. You will have to claim your earnings. This is easy if you are in clubs, raves are pretty black market, but that might change. If you are driving to gigs all the time, you can write all the mileage and food off, if you can stand the bookkeeping. I can't. Sorry, you can't write off all of your clubbing lifestyle. You can't write out going to parties for "research purposes". In some cases you can write off clothes that are meant only for onstage. Record Stores
============= See Running a Record Store
1 DJ Hollis says...
Can I write off visiting events to check out other DJ's styles (for learning purposes)? Thank you for your response.
HOLLIS
Posted at 2:29 a.m. on June 29, 2008