Did you buy any gear before the end of the year for tax reasons?

[Scott Whigham]

I did - I pushed forward a few purchases that I could have waited on for a few more weeks/months. I bought an SPL 2Control and an extra 1-2 UAD plugs.

You?

[FFTT]

It's been a lean year for new gear, although I did manage to finally
buy my Fane AXA12 and spent about $700.00 on a few choice NOS tubes,
general preemptive amp repairs and refurbishing.

Thanks for reminding me, have to go out and get the final 2010 mileage
for tax purposes.

[AllAboutTone]

No, I buy enough during the year to make up for the next year, I am gonna try my best to take 2011 off from buying gear.

[FFTT]

I agree that I'm one of those who needs to buy less and record more, but this
coming year may be one of the best ever to show small business related
expenses and start up costs.

[lasso]

Yes, if plugins are gear. Bought the Brainworx digital v2, Flux Alchemist and CLA Classic Compressors- BUT mostly because they were 25, 40 and 50 % off.

Oh I also got a POD 2.0.

And a Rancilio Silvia v3

[Scott Whigham]

Originally Posted by lasso

Yes, if plugins are gear.

They are totally gear in my book!

[FFTT]

Strings, picks, capos
Cleaning materials.
DAW hardware and software
Tuner
Special Tools
Displays
Pedals and all cables
Repairs parts and labor
Dedicated studio furnishings
Sound insulation materials
Amps, Guitars, FX, racks, speakers, monitors.
Utilities, or the percentage related to your
dedicated work space.
Mileage or actual cost.
Rehearsal expenses
Advertising and promotion expenses.
Office supplies
Legal expenses
Dedicated insurance expenses
Loss or theft not covered by insurance.
Travel expenses

[Scott Whigham]

Don't forget to write off the room in your home that you use for your studio/practice!

[FFTT]

Yes, this is how I determine the utility write off.

After measuring, 13% of the space in my home is dedicated
to chasing dreams and education.

So, 13% of my heating and cooling bills can be deducted as a business
expense.

You can of course max out your deductions, claiming home office, mortgage interest etc., but I tend to minimize complications like that and just write off
everything else directly related to music.

If you teach, use the teacher/ tutor codes, rather than the musician codes.

[FFTT]

How many of us have spent from a day or two to weeks and months
attempting to find a band and rehearse with a band, all attempting
to make some money (hopefully) in that band?

How many of us have lost our asses doing this over and over again?

The expenses you incur seeking legitimate employment are all deductible.

The best thing about this country is that you can try and try again, fall flat
on your face and try again until you either get somewhere or choose
another game plan.

[ArisA]

im spending money all the time due to Euro/GBP/USD. Live in Switzerland with Swiss Francs...