How many of you register your djing as a business?
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  1. #1
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    Default How many of you register your djing as a business?

    Is this something that would be beneficial in the long run. As i keep buying tracks and gear I'm wondering if it makes financial sense to do it. Any advice is appreciated.

  2. #2
    Tech Mentor ohmydaze's Avatar
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    where are you based? UK or US?

  3. #3
    Tech Wizard Yarsky's Avatar
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    I have done that here in finland but i don't know how it works in other countries, myself I have had quite nice reduction in my taxrate as i but all my equipment puchaces to worktool reduction, example CDJ's, mixer, controller, cd's, 3 laptop, earplug, clothes as stake wear and so on and so on...
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  4. #4
    Tech Mentor ohmydaze's Avatar
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    Yarsky is right you can get decent tax deductions on lots of bis and bobs, but after a while(in the UK) unless your coming close to breaking even or making a profit they will start asking questions how and why your running a business at a massive loss and its not just a scam for getting tax breaks. That said you obviously dont have to claim everything, but you will need some sort of income.

  5. #5
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    I'm based in Canada I have been making money from djing but only between 1000-2000 a year.

  6. #6
    Tech Mentor ohmydaze's Avatar
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    Quote Originally Posted by rdej47 View Post
    I'm based in Canada I have been making money from djing but only between 1000-2000 a year.
    I've got no clue on the Canadian tax system, but if you've got an income from djing you could register it.

  7. #7
    DJTT Administrator del Ritmo padi_04's Avatar
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    10% deductions on tax returns here. I work for a DJ agency and a studio so no point in personal registration (I run many events by myself but they get to print the bill)

  8. #8
    Tech Guru josh@firestorm's Avatar
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    here in AUS most clubs (from my experience) wont pay you unless you have an A.B.N (australian business number). besides it is worth it as my accountant said i can claim anything related to the music business; music/dj/production mags.. concert/festival tickets.. petrol to and from concerts/music stores/etc.. blank cds/dvds.. music cds.. depreciation on computers/dj gear.

    basically anything you can think of or justify as a purchase for researching purposes, or for getting your job done you can claim (if you keep the receipts!). anything except for clothes, food, and drink!

  9. #9
    Banhammerized theory28's Avatar
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    the way i see this going down:

    "so this playboy mag here....youre saying its job related?"

    "yes sir"

    "how?"

    "well,sir, im dj 5 dolla holla, and to get the bitches, i need to know what the bitches like"

    "i see, so thats why 'pick up a hooker' is also on this list?"

    "oh, no, that was part of my to do list. i was high on some coke at the time, i must have gotten the papers mixed up"

    "you realize what you just said, right?"

    "yes, but the cocaine is job related"

    "i see..."
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  10. #10
    Tech Guru Garygary1's Avatar
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    Quote Originally Posted by theory28 View Post
    the way i see this going down:

    "so this playboy mag here....youre saying its job related?"

    "yes sir"

    "how?"

    "well,sir, im dj 5 dolla holla, and to get the bitches, i need to know what the bitches like"

    "i see, so thats why 'pick up a hooker' is also on this list?"

    "oh, no, that was part of my to do list. i was high on some coke at the time, i must have gotten the papers mixed up"

    "you realize what you just said, right?"

    "yes, but the cocaine is job related"

    "i see..."
    Thats probably how it works in the US

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