Writing off DJ equipment, music, etc. for taxes
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  1. #1

    Default Writing off DJ equipment, music, etc. for taxes in the US

    ***Only applies to those living in the US***

    To those of you that DJ for a business not just for personal enjoyment, how do you go about writing off your equipment, purchased music files, etc? How do you claim your earnings? I invested a lot of money last year in the equipment and music necessary to start my own DJ business. I'm working with an accountant on doing this right but she seems pretty new to this exact type of business.

    To those that are running a business, are you incorporated, have insurance, etc? Thanks!
    Last edited by Skerrplunk; 04-09-2012 at 03:18 PM.
    Macbook Pro 15" (2.3 GHz Quad i7, 8GB RAM, 512GB SSD), S4, Maschine, Beat Masher, Cue Master

  2. #2
    Tech Guru lethal_pizzle's Avatar
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    - it may depend on where in the world you are
    - if you are going to pay an accountant, hire one that knows what they're doing
    Last edited by lethal_pizzle; 04-09-2012 at 03:12 PM.
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  3. #3

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    Great point. Just edited the title and post. I would look into switching but it's so close to the deadline I'm thinking I need to ride this out.
    Macbook Pro 15" (2.3 GHz Quad i7, 8GB RAM, 512GB SSD), S4, Maschine, Beat Masher, Cue Master

  4. #4
    Tech Guru JasonBay's Avatar
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    Kind of hard to write them off as a business expense if you're not even incorporated, LLC or otherwise.

  5. #5
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    Amortizing capital assets is what you want. Your accountant should know about how to do this.
    However buying assets only increases your company's worth and not your income. You would be tipping the IRS if you are buying more than you can make. So be careful if you are trying to send in your claim. There is quite a bit more than this thread can handle. If I was you I'd would hire a accountant who has a lot of experience.

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