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Tax Forms for Violinists...

Life in general: Doing my taxes as a professional musicican/grad student/self-employed teacher etc. etc. is always confusing. What form fits best?

From jennifer steinfeldt warren
Posted April 3, 2005 at 11:55 PM

I just finished doing my taxes...ugh...but I have this sinking feeling that I didn't use the right forms. I used 1040 (not EZ), 2106-EZ, it looked like my 1099 misc. didn't need a seperate form...I got frustrated and just started including my tuition bill reciept and shar/southwest strings invoices. I thought maybe I needed to do a section C, but it seemed pretty much covered in other areas. What do you other musicians use?
JW

From Lisa Marsnik
Posted on April 4, 2005 at 12:27 AM

Jennifer,
I am not a CPA, but here's from my experience. If you are self employed (make money that doesn't get reported on a W-2), then you need a Schedule C for your business (if you perform and teach you need one for each business). If you are taking any deductions you need the 1040 form rather than the EZ. I use the Turbo Tax program every year because it just walks you through the process and the program gets easier and easier to use each year. They are up on all the tax law changes and it is incorporated right into the program. If you don't want to spend the money doing that, then call the IRS directly. They are probably available almost 24 hours a day now and have offices that you can take your taxes in and they'll do them for you for free.
Lisa

From Emily Grossman
Posted on April 4, 2005 at 07:53 AM

Other possible forms:

Schedule C Self-employment tax
Form 4562 Depreciation (for musical instruments)
Form 8829 Expenses for Business Use of Your Home (if you teach at home)

Do you have a business license? Are you a student? Were you itemizing?

It's not a huge pile of paperwork, but it can be a huge amount of research involved to adequately answer all the questions. I waded through it, and I'm glad I did, but it felt about like taking a college course on taxes. There are hundreds and hundreds of pages of instructions. Have fun!

From Christian Vachon
Posted on April 4, 2005 at 07:59 AM

Hi,

Jennifer, why don't you get something like TaxCut and do it on your computer. It will save you a lot of time and hassle, as the program will ask questions and choose the right forms and do all the calculations for you.

I don't know. Just a thought.

Cheers!

From jennifer steinfeldt warren
Posted on April 5, 2005 at 12:50 AM

Thanks, guys!
JW

From Daniel Touchstone
Posted on April 5, 2005 at 12:55 AM

Don't use form 2106 unless you are a w-2 wage earner. You need to use Schedule C.

E-mail me with any specific questions, and I'll try to answer. I'm a CPA, doing taxes as I write this.

And don't forget to depreciate your violin!

From Mike Harris
Posted on April 5, 2005 at 07:21 PM

I've been doing my own for 20 years. A CPA told me I'm doing it right, and I concur with Emily. The first year or so is a killer, but after that it becomes almost routine (there are occasional changes in the tax laws).
Don't forget to deduct mileage to gigs or commuting to teach (if you're self-employed).
I take the standard mileage allowance rather than depreciating my car,etc.

From Emily Grossman
Posted on April 6, 2005 at 03:26 AM

A 300-mile round-trip visit to Anchorage to buy art supplies and sheet music practically pays for itself when you can deduct 37 cents a mile.

From Mike Harris
Posted on April 6, 2005 at 09:33 PM

Not when you figure the wear and tear on your car and tires (and yourself). It's pretty fair (the deduction).

From jennifer steinfeldt warren
Posted on April 7, 2005 at 04:16 AM

He he....cost of strings...mooradian case cover...polish, bowcleaning kit...strings again....I counted a lot of stuff, actually, in the end. I didn't count the repairs, though. I counted gas, which really added up because I commuted five days a week 60 miles a day (round trip) for either teaching, orchestra assistant, or school. I ended up going with half of the weeks because I can't really count school, though I did work study there. Anyhow. I started to get worried about income that I didn't keep up with, never filled out info for, etc. GIgs that I got paid in cash for or with a check that I put in my account and never recorded. Lessons I taught but I can't remember how long...man. Last year was the first year I made enough to even have to file taxes. But it was easier because I worked for people. Anyway. The symphony pays milage so next year I won't be able to count that. Well. I sent them in. If they are wrong I suppose that they will send them back with an adjusted amount on them. I'm so under poverty level that I doubt I'd be worth auditing :).
Sals,
JW

From Jenni Thompson
Posted on April 7, 2005 at 05:20 AM

Yeah, schedule C is the way to go. I'm a musician/student/teacher, with a lot of different sources of income, and that's what I use.

From Mike Harris
Posted on April 7, 2005 at 07:00 PM

Remember, you can only do the schedule C if you're self-employed and don't get a W-2...if you play gigs on the side and report that income then you maybe can still do a schedule C and take those deductions.

From Jim W. Miller
Posted on April 7, 2005 at 08:16 PM

300 mi. by dog sled is rough.

From Sam Li
Posted on April 8, 2005 at 12:19 AM

The IRS is evil. Don't give in to them.

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