Expenses Must Be Separated by Profession

Hello,

I am have just gotten my first role in film as an actor & stunt man and I imagine I will be having more roles.

I have also been accepted in to the teamsters union. Both acting and trucking for film pay about $800 / day. However the jobs only last a short duration. I will be taxed at a very high rate and it want to get it back. I pay a fortune for classes, associations, union affiliations, agents, head shots, wardrobe, travel associated with classes or interviews, and all sorts of other things.

I have just set up a bank account named "sag and teamster" can I put all of my deductibles on that and send in the bank statement and use the whole thing as a deduction?

I have never filed an itemized tax return.

Thank you,
Jonathan
Angel Fire, NM


Dear Jonathan,

Congratulations! Hope you get a lot more acting work.

Where or how you track expenses does not determine whether the expense is a business deduction.

You must keep acting expense separate from trucking expenses. Also know that acting expenses go on a different part of the return than do trucking expenses.

Your question indicates that you know very little about taxes. So to get the best tax benefit you should not prepare your own tax return.

Best,
June