Taxes for trainers, musicians, artists, writers, etc.... even part timers
2fu...@sbcglobal.net
getting together the stuff I needed for my taxes...
well... not really, it was generally in April.
After crossing some magic threshold into adulthood (turning 35 or
something like that)I wanted to be a little more responsable. I started
going to one of the "companies" to get my taxes done... you know,
instant refunds, cute commercials, etc. I thought it was great. They
slammed all the info I gave them into a computer and presto!... a
refund check in my hot little hands within a few days. (It put me back
a couple of hundred bills each year but that seemed pretty normal to
me... with my vast experience in this area.)
Well, here it is pushing March and I want to share my 2005 experience
to save you some cash and a lot of grief. I don't know how it came
about, but I got into this conversation about getting my taxes done. It
was coming time for my annual ritual of waiting until the last minute,
spending about $300, and getting a check within a few days so I was
listening.
Upon recommendation, I went to a CPA. YES, CPA, certified public
accountant... and NO, CPA doesn't HAVE to be expensive. FYI... it
was NOT like a visit to the dentist. Last year and last week, my tax
preparation cost me LESS than half of what I had paid at that place
you see all the tv commercials about. Another cool thing? I got more
money back because the CPA understood how to find deductions for us
self-employed, musical, creative types.
I learned that because MOST people are NOT self-employed, (even on a
part-time basis), it may be a good idea to see a tax expert so you can
get the most back from Uncle Sam. You may not realize that you can
deduct things like the cost of stage clothing, milage to and from
shows, office supplies like paper and printer ink, guitar strings,
stage props, batteries, sound costs, that you may be able to depreciate
your equipment, deduct your web cost, etc. or how to list those
deductions. The ONLY down side to using my CPA is that I had to wait a
week and a half to get my refund check back. (The CPA explained to me
that she felt it was unethical to offer the service because it cost the
customer so much.)
In the end, my visit to my CPA cost me $100.00 (1/3 of what I used to
pay), I'll be getting my refund in about a week now and I have the
peace of mind in knowing that I'm probably not going to set off any red
flags that might cause an audit or something and that I am getting the
full benefit of all of my deductable expenses.
This is NOT a commercial but I have had a VERY good experience with
using a CPA. I suppose I could do my own taxes to save money (yeah
right) but that won't happen. Besides, what does it matter as I'm not
paying through the nose anymore at one of those franchised places. From
my experience, I would recommend that you get moving early on your
taxes this year, that you stay away from those heavily advertised
places (guess who's paying for that advertising), and that you call a
good CPA.
If you are in the Akron/Canton/Cleveland area, call Sue Comko at
(330) 940-3950 or email her at sac...@yahoo.com. She's got my
business for life. And it's paineless... I promise.
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