Posted on February 16, 2010.
Guitar supplies tax deductible for instructors? I teach guitar lessons as a source of income supplimentary. I drive home my students and teach them lessons. I was wondering, first of all, if the gas is tax deductible, and if so, how can I calculate how much I can deduct. So I wondered if the strings, picks, repairs, etc. are tax deductible since I use in my personal life but also use them for lessons. Anyone have an answer?
Yes. You can take the strings, picks, repairs. Keep track of your mileage and customers, supply stores and do not forget the bank (to deposit your wealth). You need to know the total miles traveled for the year, the total miles for business. I suggest keeping the miles on your calendar (where you keep your appointments). IRS likes odometer readings. They love every day, but if you do it at least once a month you can go back. The business mileage right now is 39.5 cents per mile for business. That could change. Last year, when 36.5 for the 9 months and 42.5 for the last 3 months. He was raised because of our gas prices jumped.
Do not forget the cost of your partitions too. You will use a schedule C or C-ez.
YES!
Record your mileage to and from also. Also record your mileage and the bank to obtain supplies.
aoe
