Guys-

My sales rep at Sweetwater emailed these articles to his clients. From a quick scan, they seem to contain quite a bit of good info. Much of it may be familiar to you, but maybe not...

The first article speaks directly to musicians and briefly explains travel,
meal, vehicle, and equipment expenses (for both gigging and studio musicians), and whether or not you can deduct them on your taxes.
http://www.musicbizacademy.com/knab/articles/taxtips.htm

This article features a list of common deductible business expenses. It's pretty helpful if you consider yourself self-employed or own your own studio.
http://www.artstaxinfo.com/musicians.shtml

This one offers a "nuts and bolts" explanation of Section 179 (first year
depreciation allowance for equipment), and how to take advantage of it.
http://www.section179.org/section_179_deduction.html

Enjoy...

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Bill in Dayton

Good information Bill. I suggest that anyone who is making an income as a performer purchase Quickbooks, which will interface with Turbo-tax. Turbo tax will lead you through the pitfalls of filing a business and personal income tax return, while Quickbooks makes record-keeping a piece of cake.

Cheers,

Gary