Hi June,
I love your book, it has given me so many ideas.
I have a question about something mentioned in an early chapter, about defining your career as "broadly and honestly" as possible. I'm an aspiring singer-songwriter and am taking guitar and singing lessons, as well as purchasing truckloads of music, equipment, and attending lots of concerts, in the hope of becoming a true professional.
For a "day job" I teach piano. As you can imagine, I would love to write off as many of my music expenses as possible, however, I've yet to earn any "income" as a singer-songwriter. While I can make the case that all these expenses inspire me as a musician and have honestly given me ideas as a piano teacher, I do not consider them to be indispensable to my piano teaching. Is there any justification for deducting these expenditures, or would you recommend against it?
Kristin from Mountain View, CA
Hi Kristin,
This is a great question. So many indies have the same dilemma when there really should be no doubt at all.
First of all, forget about calling your piano teaching your "day job." I have a client who is a jazz drummer. His love is free jazz but he gets bigger audiences and so makes more money when he plays Dixieland. Do you think he should not think of those performances as part of his music business?
If a song writer writes a jingle for a commercial -- not his love but it pays the rent. Should he not consider that part of his music business?
Is there no connection between your teaching music and your writing music?
You are a music business. Everything you do to make money or to try to make money that involves music is part of your business.
And, thank you for your generous comment about Self-employed Tax Solutions. Please tell your friends and colleagues. Sing all about it!
All the best,
June
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