Part Time Musicians Taxes 2019 Guide

Learn About Claiming Part Time Musicians Taxes

Musicians – you spend a ton of money supporting your craft paying for practice room space and amps, images and photocopies, tools and van rentals. Could it be nice to deduct a number of expenses? Even if you are getting started you can begin to learn about part time musicians taxes and the expenses that you can claim back.

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Making Music As a Business Or Hobby?

First, you will need to figure out if making audio is your business or your hobby.

It is okay if you are still figuring it out, now is the best time to learn as much as you can to create a successful business around your talent and music.

That’s, do you to earn a living, or do it for enjoyment?

You can subtract the cost of your equipment alongside fees and other expenses on your tax return, if it’s set up as a company.

The Key Component – In case you’ve decided that yes, your music is an enterprise venture, you need to know that music enterprise is taxable by the Internal Revenue Service.

Translation: tread carefully when you start making an income from your talents.

While you’re eligible to deduct expenses you have to make certain to understand what you can and can’t claim, make certain you report your earnings all and document everything.

Solid Business Advice: Ensure you’re operating like a business and a CEO of your own organisation – even if you are a one-man band.

Here is a summary of tips:

  • Keep good books and accurate records.
  • Advertise.
  • Get business cards.
  • Get a company license or independent citizen ID number.
  • Incorporate your band.
  • Open a P.O. Box.
  • Join Musicians organizations and/or unions.
  • Copyright your work.
  • Register your songs.
  • Consider streaming your music to get paid (link above).

Preparing Your Taxes

In summary, for part time musicians to subtract business expenditures, complete a Schedule C and file it.

On Line A, On Schedule C, you’ll need to know your business code that is principal.

What may you deduct?

If one spent money to run your audio business, you ought to be capable to subtract it from your income taxes.

The Internal revenue service says in Publication 535: To be deductible, an enterprise expense must be both regular and necessary.

A regular expense is one that’s common and then accepted in your trade or enterprise.

A necessary expense is one that’s helpful and then appropriate for your trade or business.

Here are a few categories to think about :

  • Instruments
  • Equipment/gear & accessories
  • Consumable supplies (such as drum skins & sticks, guitar strings & more)
  • Studio recording time
  • Music production software
  • Home studio tools and hardware
  • Photography and videography
  • Travel expenses


I hope that this helps you to focus on the basics of part time musicians taxes.


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