RockStarNick
Gold Supporting Member
- Messages
- 3,653
So I've joined a new cover band this year. Unlike my other cover band gigs, this one is turning out to be more like a part time job - which is great! - but there's a lot of rules that I'm learning I have to follow, when it comes to income, taxes, etc.
The band leader / owner has requested that we each form LLCs, and pay us as independent contractors. I'm fine with that - I'd have to pay taxes either way, and with this method, he can avoid treating us like "employees" that need Social Security, benefits, etc.
Here's my two biggest questions:
1. If you have an LLC, do you HAVE to use a Corporate Credit Card to make expenses that are "Write-off-able." Or can you use a personal credit card as well.
2. I know the lowdown on expensing things like gas, lodging, musical "consumables" (strings, picks). How do you write off things such as guitars? Pedals? Cables? Things that have an indefinite lifespan...
Thanks in advance so much for any and all info.
The band leader / owner has requested that we each form LLCs, and pay us as independent contractors. I'm fine with that - I'd have to pay taxes either way, and with this method, he can avoid treating us like "employees" that need Social Security, benefits, etc.
Here's my two biggest questions:
1. If you have an LLC, do you HAVE to use a Corporate Credit Card to make expenses that are "Write-off-able." Or can you use a personal credit card as well.
2. I know the lowdown on expensing things like gas, lodging, musical "consumables" (strings, picks). How do you write off things such as guitars? Pedals? Cables? Things that have an indefinite lifespan...
Thanks in advance so much for any and all info.