Taxes for Musicians and Artists with Elaine Grogan Luttrull

Taxes for Musicians

If it is true that the only certain things in life are death and taxes, this workshop will make navigating one of those things considerably easier. We’ll review federal income tax basics for musicians, including common deductions claimed. We’ll also outline how the tax landscape changes based on the type of income a musician earns and highlight key aspects of tax law that impact financial wellness, including deducting interest for student loan payments and saving for retirement. We’ll touch briefly on some state and local income tax issues, and we’ll conclude by reviewing some tips and best practices to keep excellent records.