Tax Tips for Performing Artists: What You Can (and Can’t) Deduct
Taxes can be tricky for creatives with unpredictable income and a mix of 1099s, W-2s, and under-the-table payments. Here’s how to make sure you’re not overpaying or underpreparing.
What Counts as Income?
- Gig payments
- Teaching or workshop fees
- Streaming royalties
- Grants and fellowships
- Licensing or sync fees
What Can You Deduct?
- Travel to gigs (mileage, airfare, lodging)
- Equipment and instrument repairs
- Studio or rehearsal space rental
- Home office expenses
- Union dues and subscriptions
- Costumes, makeup, and headshots
Watch for These Common Mistakes:
- Not saving for taxes: Set aside 15-20% of all income
- Mixing business and personal accounts: Always separate for easier tracking
- Forgetting to track cash payments: They count too and the IRS knows it
- Missing the self-employment tax: It’s 15.3% in addition to income tax
When to Bring in a Pro
If your income is over $30,000/year or your taxes are getting too complex, it’s probably time to work with an accountant familiar with performing artists.
Final Tip:
Don’t fear taxes, use them as a tool. With smart deductions and planning, you can lower your liability and keep more of what you earn.