5 Tax Deductions For Dancers
June 4, 2021
Perhaps you “turned pro” in the past year and now make a living as a dancer. Knowing what tax deductions you’re entitled to simplifies doing your taxes because you’ll have fewer questions regarding what you can and cannot write off. Review what your Encino tax consultants want you to know about tax deductions for dancers to avoid overpaying.
Dance Classes
It’s not uncommon for dancers to take continuing education classes about their craft. If you took dance classes during the tax year to hone current skills and or learn new ones, write them off at tax time. Any other classes pertaining to your job also count, such as performance art classes if you danced as part of a large theatrical spectacle.
Studio Space
Perhaps you rented a dance studio to teach fellow dancers or work on perfecting different moves. No matter what your motives were, you can deduct studio expenses from your taxes if you used the space for professional reasons. Write off the rent and utilities, as well as any equipment you used, such as mirrors, sound systems, and ballet barres.
Dance Clothing & Footwear
What you paid for dance gear during the tax year provides deduction possibilities, including all dance shoes, leotards, tights, skirts, and leggings. Dance costumes you bought or made yourself from purchased materials and were not reimbursed for also apply, as does stage makeup. If you make appearances as part of a dance troupe, the clothes you purchased for such events are deductible as well. However, they must have been used exclusively for work-related reasons.
Music
Since music is an essential part of dance, any related expenses provide deductions. Subscriptions to music apps like Pandora and Spotify, iTune song purchases, YouTube premium subscriptions, and CDs all count towards lowered income taxes. If you bought music software or instruments for a live band to use, deduct them as well.
Fees
When your manager or agent’s pay comes directly from your paycheck, get that money back during tax season. Fees paid to your dance or performer union count too. If you hired an attorney for dance-related reasons during the tax year, deduct those fees as well.
Work with Wallace & Associates, your Los Angeles accounting service, for tax prep assistance.
