curious. I've been DJing for about 6 years now and I'm thinking of doing it full time legally.
2006-08-07 13:44:05 · 5 answers · asked by Adrian 3 in Business & Finance ➔ Taxes ➔ United States
Deductible if you have a business license.
2006-08-07 13:48:32 · answer #1 · answered by John H 4 · 0⤊ 0⤋
Writeoffs are very loose - when you're buying records as a DJ, absolutely all of them can be written off - who cares if 5 or 6 were for "personal" use and were never played out. Last year I spent over $5,000 on records and you bet I wrote it all off - I wouldn't be working if I couldn't buy new records. Keep in mind as a DJ, you can also write off a portion of clothing purchases (needed as a performer), gas, equipment, etc...
2006-08-09 19:29:55 · answer #2 · answered by ChiDanielle 1 · 0⤊ 0⤋
Absolutely. Keep this phrase in mind "ordinary and reasonable". That means if something is reasonably purchased in order for you to earn that money, it is deductible. Your music equipment, records, cell phone, business cards, etc. would all be deductible. If you haven't reported it on your taxes before, you will want to file a Schedule C. If you look at www.irs.gov under forms and publications, you can look at a Schedule C. It is fairly easy to read, and can give you more ideas on deductible items.
2006-08-07 20:51:42 · answer #3 · answered by Marian 2 · 0⤊ 0⤋
Definitely. Consult a tax advisor that knows your entire tax picture for details. You would definitely need to keep good records (no pun intended) about what you buy, what you use, etc.
2006-08-07 21:13:57 · answer #4 · answered by kako 6 · 0⤊ 0⤋
only if those records are used for your job, not for personal use.
2006-08-07 21:34:40 · answer #5 · answered by blakta2 3 · 0⤊ 0⤋