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Taxes: writing off DJ expenses

DjArcadianDjArcadian 3,632 Posts
edited April 2006 in Strut Central
Anyone do it? I'm thinking of purchasing a new mixer and would love to be able to write off my record purchases. I understand you need to actively work and show some income from your playing. The reality is I don't play out but I have enough cash to fake it and claim I'm getting money. Hopefully within a year or so with practice I will be able to get some gigs. However, my expenses will outway my purchases and I don't want to risk an audit. I have a CPA I will discuss this with but want some advice from people that do this.

  Comments

  • street_muzikstreet_muzik 3,919 Posts
    One of the best things about DJing is money under the table. You want to claim all that? If you have a legit job with a paper trail then yeah, go for it. I did it one year when I was DJing for the city as a private contractor. There was a paper trail. Save your receipts but it may not be worth it. The IRS is more likely to audit an individual than a business so think about that as well. If your business is blowing up, go legit, otherwise, enjoy the benefits of the underground market.

    2c
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