Wednesday, March 12, 2008

A Terrific Mother-in-Law

June--

My future son-in-law is a full time student. He plays with a band most every weekend. To his surprise, the band gave him a 1099 MISC. He of course had no clue this was going to happen and had not paid any taxes.

I figure the band is treating him as a self-employed musician. I'm trying to help him reduce his taxes. Can we deduct the expenses of the silly suits he had to buy for the band and the microphone he had to buy? What about mileage to and from the gigs? Am I overlooking anything else? He uses his computer for school, but also to communicate with the band and get the music to practice. Can he deduct part of the cost of the Internet? Anything else?

Thanks!

Deborah
Baton Rouge, LA


Deborah ... "to his surprise the band gave him a 1099-MISC." Did he think that because music is so loved in this country that musicians are exempt from paying taxes? No way. Big tax credits and loopholes are only for the very rich. How naive of him.

You say "the band is treating him as a self-employed musician." Well, that's because he is a self-employed musician

Click here for a complimentary list of 100+ Indie Business Expenses to get started on knowing what expenses he may deduct.

You'll be a terrific mother-in-law!

Best,
June

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