Re: Drums and American taxes
I own an electrical contracting company. My accountant wife advised me to report all my drumming income, as well as all my drumming expenses, included along with my electrical business income and deduction. Just because my business is named Ace Electric, there's nothing that doesn't say I can't provide electric and backbeat services.
What I need to find out from her is...do you need to start a business (eg joes drumming for instance) to legally be able to make these deductions. I'm thinking you might. If you work for McDonalds only, and claim drumming expenses...not sure if that is allowed. It may be, I'll find out and post what my wife says.