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#940958 - 09/26/04 12:12 PM IRS  
Joined: Sep 2004
Posts: 10
alfredo Offline
Junior Member
alfredo  Offline
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Joined: Sep 2004
Posts: 10
Do all part time teachers declare lessons?

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#940959 - 09/26/04 12:22 PM Re: IRS  
Joined: Sep 2004
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alfredo Offline
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alfredo  Offline
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Joined: Sep 2004
Posts: 10
Note: "The costs of a child's music or swimming lessons are not deductible. These are nondeductible personal, living, or family expenses. For more information, refer to Publication 529, Miscellaneous Deductions."

#940960 - 09/27/04 07:22 AM Re: IRS  
Joined: Aug 2004
Posts: 782
mound Offline
500 Post Club Member
mound  Offline
500 Post Club Member

Joined: Aug 2004
Posts: 782
Rochester, NY
On the other hand, if you use your music for professional endeavors (recording jingles, playing in a band) I believe you can write off the cost of your lessons. Though I'm not sure that has anything to do with your post smile


"You look hopefully for an idea and then you're humble when you find it and you wish your skills were better. To have even a half-baked touch of creativity is an honor."
-- Ernie Stires, composer
#940961 - 09/29/04 03:48 PM Re: IRS  
Joined: Nov 2002
Posts: 13,837
Kreisler Offline
Kreisler  Offline


Joined: Nov 2002
Posts: 13,837
Iowa City, IA
Should they? Yes.

Do they? No.


"If we continually try to force a child to do what he is afraid to do, he will become more timid, and will use his brains and energy, not to explore the unknown, but to find ways to avoid the pressures we put on him." (John Holt)

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#940962 - 09/29/04 05:09 PM Re: IRS  
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ragtimebg Offline
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ragtimebg  Offline
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Joined: Sep 2004
Posts: 180
California
the safe way to go (as a tax preparer for 20 yearsm although not currently) is to declare the income and make sure your expenses cover the income so you have a loss on business. Not really hard to do, and if you're a little liberal on the expenses, and get caught, no big deal. In the unlikely event you get caught not declaring the income it can be a very big deal indeed.


I have a new mistress. She's black and curvy and pretty and sounds great and has great legs. I call her "Petrof".
#940963 - 10/04/04 11:31 AM Re: IRS  
Joined: Sep 2004
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alfredo Offline
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alfredo  Offline
Junior Member

Joined: Sep 2004
Posts: 10
Thanks

#940964 - 10/04/04 12:19 PM Re: IRS  
Joined: Nov 2003
Posts: 2,653
Bob Muir Offline
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Bob Muir  Offline
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Joined: Nov 2003
Posts: 2,653
Lakewood, WA, USA
"How do they catch it?"

If you're paid in cash, then it's virtually impossible to catch it. But if you're paid via check and you deposit the checks in your bank account, then it can be caught in a routine audit.

"declare the income and make sure your expenses cover the income so you have a loss on business."

This works for the first couple of years. But if you don't have even a small profit (I believe it's three out of five years), then the business is declared a hobby and all deductions are disallowed.

#940965 - 10/05/04 02:30 PM Re: IRS  
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mound Offline
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mound  Offline
500 Post Club Member

Joined: Aug 2004
Posts: 782
Rochester, NY
Quote
This works for the first couple of years. But if you don't have even a small profit (I believe it's three out of five years), then the business is declared a hobby and all deductions are disallowed.
I did this for a while with a consulting business.. Don't plan to schedule it this year at all because of that. Do I have to "officially unschedule" a previous few years Schedule C? or can I just not include it in my tax return?


"You look hopefully for an idea and then you're humble when you find it and you wish your skills were better. To have even a half-baked touch of creativity is an honor."
-- Ernie Stires, composer

Moderated by  Ken Knapp 

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