Resources to help musicians file their taxes
See below a list of link and documents you may need that will assist you with filing your taxes.
Why is filing important?
Filing your taxes as a musician is more than just staying compliant—it helps build your financial future and professional credibility. Reporting your income ensures you earn credits toward Social Security and Medicare, which can provide retirement income, disability coverage, and health care later in life. Keeping your earnings documented also makes it easier to qualify for loans, housing, grants, and other opportunities that require proof of income. Even if your music income fluctuates or seems small, consistently filing establishes you as a working professional and protects your long-term financial stability.
Below you can find some quick resources that will help ease your filing process.
Form 1040, U.S. Individual Income Tax Return
Form 1040 is used by U.S. taxpayers to file an annual income tax return.
Read More
Schedule C (Form 1040), Profit or Loss from Business (Sole Proprietorship)
Use Schedule C (Form 1040) to report income or loss from a business you operated or a profession you practiced as a sole proprietor. An activity qualifies as a business if:
- Your primary purpose for engaging in the activity is for income or profit.
- You are involved in the activity with continuity and regularity.
Read More
Wave App
This app was suggested to us as a good resource to help small businesses and musicians keep their information organized throughout the year and can send invoices and tax documents.
Read More
