Let’s Talk About Tax Write-Offs
As a touring musician, it is really important to know what is a tax write off versus what isn’t. Most musicians don’t typically write off half of the expenses that they should. While instruments, microphones, strings, picks, pedals, and cables are kind of a given… most of the time we forget that GAS, food, drink, and stage wear are also deductible expenses.
I just spent four days on an island (Put-In-Bay, OH), and literally EVERYTHING was deductible. From the food I ate, to the gas I put in my sister’s van to get us there, and even the show clothes I bought for the week. All of it was a write off. We were limited with our vehicles, because you have to take them over on a ferry (which was luckily comped by the venue, because it is wicked expensive). So, one day I rented a scooter to get around the island since I had no other transportation. Yet again, WRITE-OFF.
If you ever have a question about what is deductible versus what isn’t, ask your tax professional for advice. If you don’t have a tax professional in your back pocket, get one! That’s what they do. They crunch numbers and they “know things.” (Inserts image of Tyrion here.)
