Financial Products

Financial Products

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Valued Pioneer
Posts: 4
Registered: ‎02-23-2015
Accepted Solution

tax for singers

Good afternoon,

I have a few questions. I m not sure if I could claim as a detucible expenses such as airline tickets, gas recipts, car rentals and hotel recipts for 2016 on our taxes . We do have a tx Id and although we didnt make alot of money. we have alot of expenses that came out. can I claim them and if so what form do I need to have. Look forward to hear from you

Associate (Neighbor)
Posts: 220
Registered: ‎07-22-2014

Re: tax for singers

Hello, Peaches06.

 

Based on your question, I'm guessing that you're a performer, and have done some gigs that required some extensive travel.  If that is correct, your income and expenses from the singing gigs would go on Schedule C, as self-employment income.

 

There are spaces there to enter your income, travel expenses, supplies, and all of your other expenses.  For most people, it is easier to claim the standard mileage rate for your personal vehicle instead of saving all of the receipts - if you want to claim actual expenses, then you would need to keep track of *every* vehicle expense (gas, oil changes, wiper blades, etc.), calculate the percentage of your annual mileage that is business-related...and then multiply each of the categories by that percentage to come up with the vehicle expenses.

 

I have a side line teaching private music lessons, so I have a somewhat similar situation to yours - although there are times when teaching lessons isn't nearly as much fun as performing.

 

Hope that helps.  Feel free to fire more questions at us!

 

-Kurt

Valued Pioneer
Posts: 4
Registered: ‎02-23-2015

Re: tax for singers

yes thank you for answering. I just had to make sure. I could claims hotels , airplane tickets and rental. I will definitely take your advice. thank you

Associate (Neighbor)
Posts: 220
Registered: ‎07-22-2014

Re: tax for singers

You're definitely welcome.

 

If you run into anything else that has you puzzled, don't hesitate to ask!

 

-kurt