Once you become a client of Bambridge Accountants, the first thing that we will look at is ensuring that you are claiming absolutely every expense you are eligible to as an dancers.
DANCERS HAVE A NUMBER OF TAX DEDUCTIONS THAT ARE UNIQUE TO ANY OTHER INDUSTRY.
Below we have put together a list of some of the expense you are entitled to as an dancers.
Clothing is an extremely useful expense for dancers to claim on your tax return. Almost all dancers spend some of their income on work-related clothing, whether it be clothing for auditions, shoots or rehearsals.
Clothing is one of the more known expenses to claim. However for a smooth and pain-free tax-filing season, it is essential that you are aware of your entitlements when claiming this expense. Many dancers are subject to penalties and hold-backs due to over claiming.
USE OF HOME AS AN OFFICE
Use of home as an office is an expense that often missed out by dancers. If you use your home to apply for auditions, rehearse or any other work-related uses you are entitled to claim this expense.
You are able to claim a percentage of your household bills for your use of home as an office.
Getting your name seen and heard is a major part of being a successful dancer. Anyways you promote yourself in an effort to get ahead in your acting career is claimable. Whether you pay to be mentioned in an article or directory, run an ad campaign on your dance blog or any other forms of promotion- it's claimable.
Below is a summary of the major tax incentives that Congress has put in place to encourage certain behaviours by US corporations.
US corporations and individuals are allowed a multitude of different deductions for cash outlays they make throughout the tax year. However, for technology companies and individuals with tech-based hobbies, it can be confusing as to what expenses can be deducted. Below is a brief summary of what can and cannot be deducted for US tech companies and tech-interested individuals.
As a company owner it is common to employ family members, such as a spouse. The employment tax requirements family members can vary to those that apply to general employees.
As a US expat, charitable contributions can be made to reduce your tax liability. American expats living abroad can make a charitable donation to a wide range of US and foreign charities. However, it is essential to follow several IRS rules to make sure that charity donations are tax deductible.
Actors, directors and performers are unique when it comes to the world of taxes. We specialize in the acting profession, providing advice on the special tax rules that apply to individual actors, groups of performers and companies.
The type of business you operate determines what taxes you must pay and how you pay them. Below are five general types of business taxes:
Who must pay estimated tax?
- Excise Tax