Tax Tips for Music Teachers

Tax Tips for Music Teachers Understand how is a Musician’s income is defined: All payments for gigs or teaching is defined as income… regardless of whether you receive a 1099 at the end of the year. Some people think if you do not get a 1099 then it is not reportable income. This is actually untrue. If you have income in any form, it is required to be reported on your Taxes!. The form 1099-MISC tax form is supposed to be filed on any payments made to an individual for services amounting to more than $600 in any calendar year.   Professional fees: Do you have an agent or some other representation? Do you belong to the musician’s union? Have you paid an accountant to do your taxes in the past? All of these fees are deductible.   Record your Lessons: Making an audio recording of your lessons is a…Keep Reading