Bands and Taxes

Discussion in 'The Sound Hound Lounge' started by RickC, Feb 25, 2009.

  1. RickC

    RickC Gold Supporting Member

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    Boston, MA
    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
     
  2. Luke

    Luke Senior Member

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    How much income? Are the people who paid you declaring it as an expense against your SS#?
     
  3. Zero

    Zero Member

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    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.
     
  4. BBSuggs

    BBSuggs Member

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    Ft Worth, TX
    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.
     
  5. Guitar55

    Guitar55 Who was that masked man? Silver Supporting Member

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    I get paid by check and declare it.
     
  6. sixty2strat

    sixty2strat Member

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    ZZ top now thats a band from Taxes.....weren't they from Dollars Taxes ...always file your 1040ZZ
     

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