Tax Issues for Musicians
Do You Need a Visa When Crossing the Border?
Author: Robert Baird
First Posted: July 23, 2014
Do you need a visa? The short answer for musicians travelling to the US to work is that yes, you do need a visa; for musicians coming to Canada to work the answer is possibly, depending upon your nationality.
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Canadian Musicians Performing in the United States
Author: Brad Howland
First Posted: June 17, 2013
Thorny tax issues arise when Canadian musicians perform in the United States. The tax treatment can vary widely depending on whether the musicians are: employed or self-employed; Nonresident Aliens, Resident Aliens or U.S. citizens; performing as individuals, in an ensemble, or as part of a business or charity.
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I Can Deduct CD Production, Right?
Author: Alan M. Friedman, CPA
First Posted: Aug. 22, 2007
Recently, there has been an explosion in independent CD recordings, often made at a musician's own expense on digital home recording equipment we could have only dreamed of 20 or 30 years ago. Consequently, every March and April, as my firm prepares scores of tax returns for musician clients, the question of deducting CD production costs is inevitably raised.
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Automobile Expenses
Author: Brad Howland
First Posted: Oct. 15, 2005
Question: "I am a self-employed musician. A friend told me that I could not claim a deduction on my income tax return for automobile expenses relating to trips from my home to my engagements. Is this true?"
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An Obscure Tax Deduction Helps Low-Income Musicians in the U.S.
Author: Brad Howland
First Posted: Sept. 24, 2004
The Performing Artist Deduction can be used to reduce the taxable income of employed musicians earning less than $16,000/year, without the usual limits imposed when claiming itemized deductions on Schedule A.
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1099 Forms for Musicians Hired
Author: Brad Howland
First Posted: April 6, 2004
Question: "I'm recording a CD. Do I have to fill out 1099's for the musicians on the record? I paid them either $500 or $1000."
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Demystifying the GST
Author: Brad Howland
First Posted: August, 2003
All Canadian musicians should consider registering to collect the GST, regardless of how much money they make.
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Are Donated Services Tax Deductible?
Author: Brad Howland
First Posted: June, 2003
It's a common question among musicians that applies to every entrepreneur: if I play a concert for free, can I get a charitable donation receipt for the value of my services and deduct it from my income tax?
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Meal Expenses for Musicians
Author: Brad Howland
First Posted: February, 2003
Musicians shouldn't shy away from claiming meal expenses, but the expenses must be for legitimate business purposes with each receipt fully substantiated.
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Year-end Tax Jobs You Need To Do
Author: Brad Howland
First Posted: December, 2002
Here are three things you should do every December 31. Make the tax department and your accountant happy by taking care of these important year-end details.
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Make Your Trip Partially Deductible
Author: Brad Howland
First Posted: December, 2002
Introduce a business component into your trip and deduct a portion of the travel expenses from your income at tax time!
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Incorporation Revisited
Author: Brad Howland
First Posted: December, 2002
The article above, "Should You Incorporate?," prompted a few responses from readers in the United States. Here is additional discussion on liability and Sub-Chapter S Corporations.
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Should You Incorporate?
Author: Brad Howland
First Posted: November, 2002
Have you ever wondered whether you should incorporate yourself to save income taxes? This article discusses the advantages and disadvantages of incorporation for musicians. Although the information presented here is related to Canada, it will also be useful for U.S. musicians.
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Income Tax Implications of Recording a CD
Author: Brad Howland
First Posted: July, 2002
If you record a CD, don't try to expense all the costs in one year!
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Depreciation for U.S. Musicians
Author: Brad Howland
First Posted: February, 2001
Deducting depreciation on musical instruments, automobiles, computers, and other equipment in the United States is a complicated endeavour, but here are some tips!
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A to Z of Musician's Deductions in the U.S.
Author: Brad Howland
First Posted: October, 2000
Musicians can deduct any reasonable expense incurred to earn income. This list doesn't give every allowable deduction for the self-employed, but it should give you an idea of some special ones for musicians.
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A to Z of Musician's Deductions in Canada
Author: Brad Howland
First Posted: October, 2000
Musicians can deduct any reasonable expense incurred to earn income. This list doesn't give every allowable deduction for the self-employed, but it should give you an idea of some special ones for musicians.
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Top Ten Ways to Avoid an Audit
Author: Brad Howland
First Posted: October, 2000
It is an unfortunate fact of life that self-employed taxpayers are more likely to be audited by the IRS. That's because we are easy targets, since so many of us fail to keep proper records! To minimize your chances of going through this nightmare, follow these ten steps.
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Top Ten Ways to Avoid an Audit
Author: Brad Howland
First Posted: October, 2000
It is an unfortunate fact of life that self-employed taxpayers are more likely to be audited by Canada Revenue Agency. That's because we are easy targets, since so many of us fail to keep proper records! To minimize your chances of going through this nightmare, follow these ten steps.
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Record Keeping
Author: Brad Howland
First Posted: October, 2000
Here is a list of the kinds of records the IRS requires to substantiate your return. If you do get audited, having these records will go a long way towards minimizing the damage and keeping you out of trouble!
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Record Keeping
Author: Brad Howland
First Posted: October, 2000
Here is a list of the kinds of records Canada Revenue Agency requires to substantiate your return. If you do get audited, you will probably have to pay some money. Having these records will go a long way towards minimizing the damage and keeping you out of trouble!
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Business and Hobby Losses
Author: Brad Howland
First Posted: October, 2000
Losses occur when costs exceed income, and are usually a sign that things are not going very well. However, from a tax point of view, the nice thing is about losses is that you can write them off against other income you receive during the year.
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Reasonable Expectation of Profit
Author: Brad Howland
First Posted: October, 2000
Losses occur when costs exceed income, and are usually a sign that things are not going very well. However, from a tax point of view, the nice thing is about losses is that you can write them off against other income you receive during the year.
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Depreciation for String Players
Author: Brad Howland
First Posted: October, 2000
What do you do if your instrument actually goes up in value? Should you claim depreciation on it? This is a tricky situation for many musicians.
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Depreciation for String Players
Author: Brad Howland
First Posted: October, 2000
What do you do if your instrument actually goes up in value? Should you claim depreciation on it? This is a tricky situation that musicians need to think about carefully.
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Music Students: To File or Not To File?
Author: Brad Howland
First Posted: October, 2000
Income tax is probably the last thing on most students minds, but there are several good reasons for filing a properly prepared tax return while in school, even when not required to pay tax.
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Music Students: To File or Not To File?
Author: Brad Howland
First Posted: October, 2000
Income tax is probably the last thing on most students minds, but there are several good reasons for filing a properly prepared tax return while in school, even when not required to pay tax.
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How to Get a 3% Raise (with one phone call)
Author: Brad Howland
First Posted: October, 2000
Self-employed musicians can have a 3% raise by making a quick phone call to Canada Revenue Agency.
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Starting Your Music Business
Author: Brad Howland
First Posted: October, 2000
Helpful hints on how to get a music business started and lower your taxes.
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