IS YOUR MUSIC CAREER A BUSINESS OR A HOBBY?
As an artist, one of the last things on your mind is probably income taxes. Artists and income taxes don’t always mix well, which is why I’m going to be discussing a key concept that could have significant impact on your finances. The overlying precept is in determining whether your music career is a business or hobby. You’re probably wondering “Why does it matter whether my music career is considered a business or hobby?” Being classified as a hobby could cost you thousands
