Tax returns for US DJs.

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Dojomaster26
Daft Milk

Registered: Feb 2004
Location: Hickory

Tax returns for US DJs.

It's tax time for us in the US. For all of the DJs here that are from the US, you may want to consider filing your tax return as a business, since DJing counts as a business. As long as they're documented (keep the receipts!), you can count your records and your audio equipment (bought CDJs this year?) as business expenses.

Why file your return like this? Chances are that most of you aren't circuit bangers like Junior Vasquez or big-names like DJ Dan, so you probably took a "loss" for your business this year (money earned from DJing - expenses = a number < 0). Uncle Sam could help you out if you took a big "loss" from buying all of those records. Just remember to document the money that you did earn, or else the IRS could audit you and you could get in big trouble.

A copy of your tax return as a DJ should also be enough to prove to companies like Promo Only that you are a "professional DJ", so that you can buy their comps, if you are doing Top 40 work.

So in short: talk to your tex prep guy about filing as a DJ. You could get some extra money on your return this year...

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Feb-12-2007 03:38 United States

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i got big pants
Your Face

Registered: Oct 2004
Location: Huntington Beach, CA

don't you have to actually be getting $$$ as a dj if you want to do that? i remember this topic coming up last year tax time

Feb-12-2007 04:12 United States

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Dojomaster26
Daft Milk

Registered: Feb 2004
Location: Hickory

Yes you actually have to get paid, and you have to report the earnings that you did make (because I doubt that every club owner that hired you made you fill out a W-2 just for a 2-hour set).

However, even making a few bucks will qualify you for this...

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Feb-12-2007 04:43 United States

ill0gical0ne
Senior tranceaddict

Registered: Jun 2006
Location:

I did it! Also, if you're a student, stuff you need for school can count too (ie. computers, clothes, *car*, gas, etc).

Feb-14-2007 05:06 United States

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xstalkrx
Supreme tranceaddict

Registered: Aug 2004
Location: USA, TX TA #125

quote:
Originally posted by ill0gical0ne
I did it! Also, if you're a student, stuff you need for school can count too (ie. computers, clothes, *car*, gas, etc).

wtf clothes car and gas? I am a college student and I can claim all this stuff?

Feb-14-2007 06:14 United States

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TwistedDUO
Senior tranceaddict

Registered: Dec 2006
Location: Las Vegas, NV

Since you're a "self-contracted" employee. It's best to file a 1099 form. This is where drawing contracts comes in handy. While it's unlikely you'll get audited (unless you're pulling like $200 G's), these contracts provide enough proof to show you earned money for dj'ing during the year. Also, don't forget to calculate in things like hotel rooms, car rentals, guest lists, and average bar tabs (yes, this is part of your pay). As long as your have proof at audit time, you're set.

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Feb-14-2007 08:32 United States

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ill0gical0ne
Senior tranceaddict

Registered: Jun 2006
Location:

quote:
Originally posted by xstalkrx
wtf clothes car and gas? I am a college student and I can claim all this stuff?

don't quote me on it, but I believe so... I honestly don't know; my mom's a CPA so I send all of my crap to her, and she does it all for me :P

Feb-14-2007 14:09 United States

Dojomaster26
Daft Milk

Registered: Feb 2004
Location: Hickory

Yes, you can also claim things such as school expenses, but that's something to file as a student, and should be kept separate from your filing as a DJ.

Also, you students out there should file a FAFSA soon, in order to qualify for the Pell Grant and such.

I got a couple of PMs regarding receipts for being paid. You should be fine documenting your pay, but you will almost definately need your receipts for the expenses that you accrued last year.

(Shopping online suddenly becomes more convenient since your entire purchase history is available to be pulled up).

No matter what, I would definately talk with a preparer the first time you do this. The last thing you want is an audit over something you missed on one line of the form...

___________________
Overload (House/J-Pop/K-Pop): Click
No Pants Dance (Funky House/Electro House/K-Pop): Click
Dark Beach (Deep House): Click

Feb-14-2007 20:42 United States

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