Author: JMcAulay
Date: 2002-09-12 22:21
The cost of reeds and other consumables can be "expensed" (written off directly), along with transportation expenses to and from rehearsals and performances, as well as the cost of unique clothing (if you perform in a tux and *NEVER* use it for anything else, having an alternative tux for social occasions, you can write it off... but wear it once to a wedding and the privilege of the deduction vanishes), while any allowance for "high cost durables" such as instruments must be taken from a depreciation schedule. On the other hand, if you lease your instruments, the lease payments can be direct write-offs.
Regards,
John
...who has no professional qualifications in this field whatsoever, thus his comments are for amusement only. See your tax accountant for reliable information. Pay your taxes on time. Give blood to the Red Cross. Enjoy Dr Pepper at 10, 2, and 4. LS/MFT. 23 skidoo. Your Mileage May Vary.
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