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Tax deductions for persons with dual careers
Published by: jack 2010-03-17
  • Where can I find information about tax deductions for a person with a dual career, specifically, a school teacher who is also a professional musician?


  • Asusming that your teaching job is as an employee and the musician job is self-employed, any information applicable to self employment in general should be useful to you. Teaching income should be reported to you on a W-2, its reporting on the 1040 is the same as with any other wages. Self-employment income, generally, is reported on Schedule C in manner similar to a profit and loss/income statement. The most important thing here is that you keep very good records. I have a friend in your situation, a programmer by day and an opera singer by night. We deduct mileage, voice lessons, certain music purchases and other related expenses. We have not deducted home studio space in order to avoid problems with the gain exclusion if and when he sells his house. An istrumentalist may be able to deduct some instrument related expenses, but you will need to be careful that anything deducted is not considered a personal, hobby-type, expense. The musical Schedule C should also show a profit, some years at least, to avoid hobby classification. Let me know if you have specific questions. Carl Cochrane





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