Solved: Hello. I am a part-time musician and I have merchandise as part of my business. Do I claim this as a business expense like I would paying other musicians to play with me?
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

Hello. I am a part-time musician and I have merchandise as part of my business. Do I claim this as a business expense like I would paying other musicians to play with me?

I have cds, t-shirts, buttons, stickers etc. Can these be claimed as expenses? 


Also, for mileage. I kept track of my gigs but not where I was coming from. Can I set my home as the base for all of these gigs? 

1 Best answer

Accepted Solutions
Level 3

Hello. I am a part-time musician and I have merchandise as part of my business. Do I claim this as a business expense like I would paying other musicians to play with me?

Yes, the price you are paying to purchase the cd's, buttons, t-shirts, etc can be claimed as an expense either under cost of goods sold (if you are selling them) or advertising (if you are handing out buttons or t-shirts)

Your mileage needs to be accurate and accounted for if you are not using a vehicle that is primarily a business vehicle.  If you went from home to Gig A to Gig B to home and it was 10 miles total, you could not count your mileage saying home to Gig A to home 10 miles then home to Gig B to home miles.  

If you haven't already, it might be a good idea to get a mileage tracker app for 2018.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

2 Replies
Level 3

Hello. I am a part-time musician and I have merchandise as part of my business. Do I claim this as a business expense like I would paying other musicians to play with me?

Yes, the price you are paying to purchase the cd's, buttons, t-shirts, etc can be claimed as an expense either under cost of goods sold (if you are selling them) or advertising (if you are handing out buttons or t-shirts)

Your mileage needs to be accurate and accounted for if you are not using a vehicle that is primarily a business vehicle.  If you went from home to Gig A to Gig B to home and it was 10 miles total, you could not count your mileage saying home to Gig A to home 10 miles then home to Gig B to home miles.  

If you haven't already, it might be a good idea to get a mileage tracker app for 2018.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

New Member

Hello. I am a part-time musician and I have merchandise as part of my business. Do I claim this as a business expense like I would paying other musicians to play with me?

I'm using my personal vehicle that I use for work, personal and to go to different gigs. So basically I cannot count miles from Home to any gig, but if I can from work or anywhere else and went to the gig, I could count those miles in 2017? I'm in the process of adding my trips manually for 2017 into Quickbooks. I just got the tracker app to help with 2018.
Dynamic Ads
v
Privacy Settings