Here in #ATX, the self-proclaimed, “Music Capital of the World,” we play host to all levels of musicians. This article from Tom Tom magazine offers a great look at best practices for filling taxes as a working musician. Drummer and owner of Math LLC, a tax preparation service, Emily Kingan, gives detailed information on all things money from handling cash transactions to dealing with a multi-facited career. Tips from an Accountant: The Best Way for Musicians to Do Their Taxes.
Did you wait until the last minute to prepare your taxes this year? You do have an extra three days, the deadline is April 18th. Have questions? Need to know about forms and deductions? Try this article from the New York Times and if that doesn’t get you where you need to be,
give me a call!
Exemptions, penalties, reconciling… What do you need to know to accurately complete your tax forms this year? If you received a subsidy from the Affordable Care Act or were without health insurance for more than three consecutive months, there will be new tax forms which could bring the need for more serious number crunching. For example as a subsidy recipient, if your income changed, you may be re-paying part of what you were given. Taxes can be stressful in an average year, so make sure you have plenty of time to research and complete all of your forms. And don’t forget that accounting professionals (as myself, firstname.lastname@example.org) are here to help you!