I was going through the blog posts and reading results from past survey questions. I ran into one that asked about whether forum members in the USA deduct their horns on their tax forms. I did not even know that was possible. So I am writing to re-open the topic and ask some questions about it.
Is it possible to deduct a musical instrument when doing your taxes? How does one do that? Does it apply to any instrument and musician? As I thought about it, I can see how it might be possible. But it seemed to me that only a professional musician could pull it off. A horn and the supplies to keep it running could be seen as a work related expense for a professional. And work related expenses can be deductible under the right circumstances. Or maybe something under the terms of self employment costs, if one does gigs. Am I on the right track?
And a little something for the forum members outside of the USA, if they cared to keep reading this post this far. Is anything like this permissible in countries outside of the USA? If so, what kind of tax breaks might you be able to get as a musician?
I watch with interest to see where this goes. Learning something more, just by being a member of this forum. And loving it!
- Sara
Is it possible to deduct a musical instrument when doing your taxes? How does one do that? Does it apply to any instrument and musician? As I thought about it, I can see how it might be possible. But it seemed to me that only a professional musician could pull it off. A horn and the supplies to keep it running could be seen as a work related expense for a professional. And work related expenses can be deductible under the right circumstances. Or maybe something under the terms of self employment costs, if one does gigs. Am I on the right track?
And a little something for the forum members outside of the USA, if they cared to keep reading this post this far. Is anything like this permissible in countries outside of the USA? If so, what kind of tax breaks might you be able to get as a musician?
I watch with interest to see where this goes. Learning something more, just by being a member of this forum. And loving it!
- Sara
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