No matter what your occupation, our Tax Pros can help you maximize your tax refund. For more information about tax deductions and credits available to you, select your job title from the list below.
are a performing artist, such as an actor, dancer or musician, you may receive
Form W-2, Wage and Tax Statement, for income you earn as an employee.
Payments that you receive from someone who is not your employer (for example,
payments for freelance work) may be considered income from self-employment and
reportable on Schedule C, Profit or Loss from Business. If you are
self-employed, you may receive Form 1099-MISC, Miscellaneous Income, showing
amounts you were paid. If you are self-employed and your net earnings are $400
or more, you must file a tax return and pay self-employment tax on the income
you report on Schedule C. In addition, you may need to make estimated payments
to cover the amount of self-employment tax or income tax associated with the
income you report on Schedule C.
Unreimbursed, work-related expenses may
be claimed as miscellaneous itemized deductions on Schedule A, Itemized
Deductions. If they are attributable to being self-employed, they may be
deductible on Schedule C. You should keep receipts to substantiate your
expenses. Examples of some of the work-related items you may be able to deduct
Taxpayers in the entertainment industry
may incur expenses to maintain an image. These expenses are frequently related
to their physical appearance, such as expenses for clothing, make up, hair
care, and physical fitness. These expenses are generally found to be personal
because the inherently personal nature of the expense and the personal benefit
are considered to far outweigh any potential business benefit. No deduction is
allowed for expenses for clothing, general make up, hair care, or physical
fitness to maintain an image.
You may be able to reduce your taxes by deducting
unreimbursed, work-related expenses. As an employee, you may qualify to deduct
your work expenses as a dollar-for-dollar adjustment to income, instead of as
2% limited miscellaneous itemized deductions, like most other types of
employees. To qualify, you must meet all of the following requirements: