what about bands who are professional?
2007-02-15 08:14:59 · 6 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Of course!
2007-02-15 08:55:47 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
There are no such thing as "semi-professional". If you are paid to perform, you are a professional and you have earned income that is considered taxable.
2007-02-15 08:19:51 · answer #2 · answered by jseah114 6 · 0⤊ 0⤋
Even amateur bands have to DECLARE their income. They can deduct expenses related to performing from the income. Only the net income would be taxed.
2007-02-15 10:40:02 · answer #3 · answered by STEVEN F 7 · 0⤊ 0⤋
Yes your income vs expenses band related equals taxable income.
consult local tax people you may have state taxes also.
2007-02-15 08:20:01 · answer #4 · answered by Anonymous · 1⤊ 0⤋
Yes, if it's income it's taxable. You may have some good write offs though along with your gross earnings
2007-02-15 08:19:22 · answer #5 · answered by walkinandrockin 3 · 0⤊ 0⤋
Yes and yes. Why wouldn't they?
2007-02-15 16:12:47 · answer #6 · answered by Judy 7 · 0⤊ 0⤋