Hobby tax?

Mo Daviau · Post by **Mo Daviau** » March 8th, 2007, 3:30 pm

Anyone here a tax whiz?

Are we supposed to declare our earnings from doing shows, etc., on our income tax forms in the "miscellaneous income--hobby" category?

kbadr · Post by **kbadr** » March 8th, 2007, 3:32 pm

I would say no. Unless you started earning thousands of dollars as an individual.

In most cases, I'd think the money went right back to the troupe anyway.

Plus, your expenses for improv likely far exceed the intake.

beardedlamb · Post by **beardedlamb** » March 8th, 2007, 4:43 pm

it goes as MISC 1099 (individual contractor pay) but that's only if it reaches $600 in a year. below $600 and the gov't doesn't care.

that generally goes for any pay you will ever get where the payor doesn't take out any money for taxes. and it's only per payor, so if you make $300 from the hideout and $301 from coldtowne you are still okay to not report.

Mo Daviau · Post by **Mo Daviau** » March 8th, 2007, 5:01 pm

Thank you accountanty friends.