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Episode 7: Tax Information for the Self-Employed Musician

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Manage episode 205687858 series 2146888
Content provided by Dr. Heidi Kay Begay. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Dr. Heidi Kay Begay or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Flute 360 | Episode 7: “Tax Information for the Self-Employed Musician” (29:57)

In this episode, Heidi discusses tax tips for the working musician. She lists off different deductions that you as a musician or private lesson teacher can write-off and urges you to have a CPA file your taxes to avoid audits. Heidi also talks about when quarterly payments are due and gives you tips on how to manage your finances.

Episode 7 – Main Points:

  • CPA (1:04)
  • Stay organized (2:22)
  • List of deductions (4:55)
  • Deduct mileage (6:26)
  • Your studio space (9:02)
  • Deduct promotional efforts (11:42)
  • Deduct music supplies (12:24)
  • Deduct instrument purchases (14:24)
  • Deduct food (15:45)
  • Deduct business clothes (17:34)
  • Miscellaneous deductions (18:17)
  • Keep a monthly report (19:57)
  • Quarterly projections (21:36)
  • Quarterly payments (22:58)
  • IRS’ schedule (24:24)
  • Save money for quarterly payments (25:26)
  • Why keep track of expenses (28:02)
  • Summary (29:00)

Episode 7 – Resources Mentioned:

Heidi Kay Begay's Information:

  continue reading

309 episodes

Artwork
iconShare
 
Manage episode 205687858 series 2146888
Content provided by Dr. Heidi Kay Begay. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Dr. Heidi Kay Begay or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Flute 360 | Episode 7: “Tax Information for the Self-Employed Musician” (29:57)

In this episode, Heidi discusses tax tips for the working musician. She lists off different deductions that you as a musician or private lesson teacher can write-off and urges you to have a CPA file your taxes to avoid audits. Heidi also talks about when quarterly payments are due and gives you tips on how to manage your finances.

Episode 7 – Main Points:

  • CPA (1:04)
  • Stay organized (2:22)
  • List of deductions (4:55)
  • Deduct mileage (6:26)
  • Your studio space (9:02)
  • Deduct promotional efforts (11:42)
  • Deduct music supplies (12:24)
  • Deduct instrument purchases (14:24)
  • Deduct food (15:45)
  • Deduct business clothes (17:34)
  • Miscellaneous deductions (18:17)
  • Keep a monthly report (19:57)
  • Quarterly projections (21:36)
  • Quarterly payments (22:58)
  • IRS’ schedule (24:24)
  • Save money for quarterly payments (25:26)
  • Why keep track of expenses (28:02)
  • Summary (29:00)

Episode 7 – Resources Mentioned:

Heidi Kay Begay's Information:

  continue reading

309 episodes

All episodes

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