Bands and Taxes

RickC

Gold Supporting Member
It's that time of year. Do you declare band income? Got a tax ID? If so, how do you distribute the tax load? Do you track and deduct expenses? Hire an accountant? Any good resources to share?

Discuss

/rick
 

Luke

Senior Member
How much income? Are the people who paid you declaring it as an expense against your SS#?
 

Zero

Member
I declare it. It's all official, tax I.D. set up by the "band accountant" (keyboardist). He gives us each a 1099. Lots of deductions - gear, milage, rehearsal space rent, couple of benefits we did. Probably use TurboTax.
 

BBSuggs

Member
Yup, TurboTax here too, with all the deductions. When you get a 1099 (bass player is our guy), there aren't too many options. Doesn't amount to much, but it's a hobby. Pays for the new toys . . . usually.

We dig those cash gigs. It's like a 25% tip.
 


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