Russ,

The Audya does not have to be categorized as capital equipment, therefore, it can be written off for a single tax year.

Tax time has never been a hassle for me, mainly because I keep meticulous records of my expenditures and income. For this I use Quicken and Quickbooks, both of which are outstanding programs for small business operators such as OMB entertainers. And, Quicken interfaces with Turbo-Tax, which makes life a lot easier when it comes time to file your return(s).

Turbo-Tax also has attached programs that provide you with tax rules, regulations, and guidelines about those deductions.

Books such as "Tax Loopholes--All The Law Allows" are extremely beneficial for finding additional deductions that would normally be overlooked by most bookkeepers and accountants. Last, but not least, be sure to put some money away for your eventual retirement. Depending upon your current age, the amount will vary from $3,500 to $5,000 that you can contribute. This will bring your adjusted gross income down by a considerable margin, thereby allowing you to not only pay less income tax, but additionally, have have a nest-egg if something catastrophic were to occur. ROTH IRAs are usually a good bet for this purpose.

Most full-time, musician/entertainers get to retire three days after they're dead, and the vast majority I know personally died flat broke. Most were pretty happy--but broke.

Good topic, Chas, especially this time of year.

Gary