Taxes for Entertainers: Common Federal Tax Issues for Performers
by Phyllis Jo Kubey, EA, CFP, NTPI Fellow
Registration Fee $15 for members; $25 for "not-yet" members
1 Hour Federal Tax CE
Performers rarely fit neatly into a single tax profile. A typical return mixes multiple W-2s, 1099 gig income, royalties and residuals, with expenses the IRS scrutinizes closely. This course covers the federal tax issues practitioners most often see with actors, musicians, dancers, and other performing artists. Topics include income reporting under the revised Form 1099 thresholds, the limits on deducting expenses as a W-2 employee, and the Qualified Performing Artist deduction. It also covers commonly challenged expense categories, travel and tax home rules for performers working away from home, and the choice between Schedule C and a loan-out corporation. One Big Beautiful Bill Act provisions affecting performers are reviewed, including the tips deduction and the cost recovery rules for sound recording productions. The course draws on the IRS Entertainment Audit Technique Guide to identify common audit issues and recordkeeping practices.
Online Group/Internet Based -- 1 Federal Tax CE awarded
Registration Fee $15 for members; $25 for not-yet members.
- Prerequisites: Basic knowledge of Federal Tax.
- Program Level: Intermediate
- Delivery Method: Group Internet Based
- Who Should Attend: Enrolled Agents, CPAs, Tax Preparers, Tax Attorneys.
Learning Objectives:
By the end of this course, participants will be able to:
- Identify the types of income performers receive and how each is reported, including under the current Form 1099-NEC, 1099-MISC, and 1099-K thresholds.
- Determine whether a performer qualifies for the Qualified Performing Artist deduction under IRC §62(b).
- Distinguish deductible business expenses from personal expenses commonly claimed by performers, including wardrobe, grooming, training, and “research.”
- Apply tax home and temporary-work rules to determine when a performer’s travel expenses are deductible.
- Recognize the various methods of reporting performance income (W-2, Schedule C, loan-out corporation), including the effect of the SSTB rules on the QBI deduction.
- Describe the One Big Beautiful Bill Act provisions affecting performers, including the qualified tips deduction and the expensing and bonus depreciation rules for sound recording productions.
- Recognize the audit issues the IRS Entertainment Audit Technique Guide identifies for performers.
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A few days after the presentation, all paid Registrants will receive their CE Certificate (if earned), another copy of the PDF Slide Deck as well as the link to the Presentation recording for future reference.
