Pro DJs?

[corbettfields]

Is anyone a declared Pro DJ? ie with the IRS? have they been able to write-off vinyl, gear, travel $ etc etc?

just wondering

[djthebandit]

Nope, soon I hope :D

[djowns]

I write it all off on my taxes, same with my sound gear. It's a business investment. I've been paid a few times, so although I'm doing this at a huge loss I'm doing it :)

[Tronic]

I have a registered business name and I am able to write off my cell phone, needles, records, etc.

Derek, you could write off records, sound equipment, cell phone, etc.

Talk to me about it on monday...

:)

- tronic

[Tasty]

ditto! I'd love to find out more info bout this.....

[ProblematicBeat]

Tax write offs are great I don't even need to worry about them too bad now that I am a dad. Peace

Jason

[MarQ]

yes i do. I get all my records, & dj equpitment deducted, I get milage to and from gigs deducted, the area of my house i have my studio in, everything is deductable.

[Dave Science]

Originally posted by MarQ
yes i do. I get all my records, & dj equpitment deducted, I get milage to and from gigs deducted, the area of my house i have my studio in, everything is deductable.

Drive to WMC marc if you play there if you're ever booked.

hehe

[MarQ]

fuck that... I will get a 1st class plane tix & deduct that mutha fucka.....HAHAHAH

but honestly, even if you just go to party, as a dj you can say it was a promotional expence and deduct it.

[Dave Science]

Originally posted by MarQ
fuck that... I will get a 1st class plane tix & deduct that mutha fucka.....HAHAHAH

but honestly, even if you just go to party, as a dj you can say it was a promotional expence and deduct it.

ok get first class flight out there
then rent one of those HMV limos on 22's and drive to WMC.

;)

[Kundabuffer]

I have been doing this the past several years as well. Be careful however, as the IRS doesn't look to kindly on business that operate at a loss for too many years in a row. If you continually deduct and show no profits, they will challenge your claim of being a business and try to label your efforts as a hobby (which is not deductible).

This means you have to at the very least, show due dilegence that you are putting real effort into making money.

Also, be VERY careful about how you submit home-studio expenses, particularly as they relate to the rent/property aspects of things. The IRS has some fairly specific rules about how home offices can be claimed.

Jess

[MarQ]

Originally posted by Kundabuffer
I have been doing this the past several years as well. Be careful however, as the IRS doesn't look to kindly on business that operate at a loss for too many years in a row. If you continually deduct and show no profits, they will challenge your claim of being a business and try to label your efforts as a hobby (which is not deductible).

This means you have to at the very least, show due dilegence that you are putting real effort into making money.

Also, be VERY careful about how you submit home-studio expenses, particularly as they relate to the rent/property aspects of things. The IRS has some fairly specific rules about how home offices can be claimed.

Jess

Yea 4 sure, i have a expencive accountant that handles it for me.

[corbettfields]

nice info.. thanks

[Soular]

Interesting...now if I only got paid for gigs :p

[Marteen]

has anybody had problems with the IRS catching on to the fact that DJs are often payed under the table? The reason I haven't started declaring myself a business DJ is that I don't want to get audited.

[Kundabuffer]

Well, that's kind of the thing. If you want to claim your expenses, then you have to claim your earnings too. Doing the first without the second is a sure-fire method of getting audited.

[djslyck]

a friend of mine in the LA scene has been doing this for about 15 years and he deducts everything he can. plus, he got a 401K from one of his old jobs, and has been pluggin' into that for years. I, however, have kids so deductions on records etc... are so negiliable, it hurts

[AnthonyHayes]

I am in the US on a work visa for a high tech company. If I try to get a business license or write records off they deport me to canada.

I guess there are worse fates in life,
~Mike

[Sophistik]

That would be cool too. Register and things. Nice chunky tax cuts. I just don't, just because... well it's a number of things. Other than just being registered I dont' want to do it untill I have the correct mobile setup, and more solid consistancy, time and preparation. (I tend to be hot one day, cold another...)

I know Adam (T'Gro) is all about the professional DJ thing. :)