The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Can Dues Be a Charitable Contribution?||Date: 10/23/2012 10:50 AM|
|Author: JeanDavid||Number: 116833 of 125861|
Let me know when you make your Carnegie Hall (travel expenses deductible) debut, and I'll come.
I have a friend who has performed both at Carnegie Hall and at Lincoln Center (among other venues). And another who has performed at Lincoln Center. If they have not incorporated their business (I have no idea), I assume they fill out a Schedule C.
I have never looked at their Schedule C returns. One lives in Brooklyn and has to taxi to Carnegie Hall and to bring her toy pianos with her (she has no car). Carnegie Hall have Steinway adult pianos on hand, but no toy pianos. I assume the taxi fare is tax deductible, though I do not need to know,
The other friend also plays toy piano and travels a lot by air. Toy pianos take quite a beating in transit, so they need to be replaced from time-to-time. I suppose for them, the cost of those is tax deductible as well: tools of the trade. Toy pianos of concert quality tend to cost around $300, unless you want some special ones that are much more (historical ones no longer manufactured). But they may be worth it.
This one would cost a fortune if you could even find one:
This one is played on two relatively inexpensive toy pianos (but way better than Toys-R-Us ones).
|Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|