Well, tax season is upon us again, and I thought this would be good subject to cover for all of my working DJ brothers and sisters out there. I would like to talk a little bit about Write Offs. These can help you lower your taxable income so that you can save some of that hard earned cash come tax time. This is also one of the biggest reasons I suggest working with a tax professional when preparing your paperwork. They can really help you find things that maybe you didn’t even know you could write off. Things like…
- Mileage (to and from each gig)
- Some vehicle repairs (only for the vehicle you use to transport to and from each gig)
- Meals while working (including to and from each gig)
- Music (if purchased for business use – this includes music subscription services like Promo Only)
- New DJ Equipment
- DJ Equipment Repairs
- Dry Cleaning (for clothing you wear while working a gig)
- Phone (if used for business)
- Internet (if used for business)
- Web Hosting
- Computer Equipment (if used for business)
- Computer Repairs and Upgrades (if used for business)
- Clothing (purchased to wear while working a gig)
- Office Supplies (if used for business)
These are just a few of the items that you may be able to write off. A tax professional really can clarify what works for your situation, and point out other items that aren’t listed here.
Hopefully this gets you thinking about ways to save a little of that hard earned cash at tax time. Thanks for reading, and please feel free to leave any comments or suggestions you may have as well.
