Taxes for Musicians and Artists: Complete Guide

Hey people what’s up! It’s Claudio here and today I wanted to make a video about how to prepare your taxes as a musician or independent artist. I get a lot of questions on this topic, and it’s taken me years to understand how to approach tax season as a working musician and business owner. As someone that’s self-employed, you are technically a business owner. You are sole-proprietor which means you are a person who is the exclusive owner of a business, entitled to keep all profits after tax but liable for all losses. So it’s important to develop that business mind-set. I’ll go over deductions, business expenses, estimated tax payments, 1099s and a few other topics. Links: How I Made $2,000 Every Saturday Night: https://youtu.be/5TlVDOjnb3g CPA specializing in musician taxes: http://musictax.com/ Expense worksheet: http://musictax.com/client-worksheets/ Pay IRS Taxes: https://www.irs.gov/payments/direct-pay Pay NY State Taxes: https://www.tax.ny.gov/pay/all/make_a_payment_section.htm NY State Tax table: https://www.tax.ny.gov/pdf/current_forms/it/it201i_nys_tax_table.pdf Submit 1099s: www.efilemyforms.com