Topic: Taxes
No intent on going political here, just wondering.
As the year is coming to an end, we in the US, will be thinking about taxes in the next few months as we have to file by April 15.
But really, my questions are about taxes for traveling musicians.
Take our patriarch for example, does each country he play in collect taxes from the night's ticket take? Are the taxes offset via travel expenses? Are the band members independant contractors and their costs (pay and travel) deducted as a business expense? Are new guitars written off as a business expense? Does the USA tax the profit from the income that the artists earned while outside of the country? Does the artist need to be outside of the country for some set amount of time for income to not be counted in his US taxes? Are there international tax attorneys who work with the artists and each country's taxing authority? What about State taxes in the US. If he playes in one state, is that considered taxable income for that state and does he need to file a state tax return for every state that he plays? (except of course for those handful of states that don't have state taxes). From personal experience, CA takes a cut of all income earned in the US as Joe is "domiciled" in CA.
Do these internationally traveling artists need to file 20 to 30 tax returns each year or maybe more for US Federal, each state, each country, etc?
The business of the music business seems like it could get quite complicated