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Started By
Message
Gigging Musicians, how do you handle taxes on W9 forms?
Posted on 4/27/21 at 10:59 am
Posted on 4/27/21 at 10:59 am
Quick question for any of you who have to fill out W9 forms for gigs. How do you typically take into account taxes that'll be taken out? We usually get paid cash (and not much) for gigs so I haven't had this issue come up.
We are playing a festival gig on Memorial Day, paying $1,500. They require all vendors to fill out a W9. We aren't big enough to have an LLC so I just filled it out as an individual so I'll be the only one taxed next year. Do you (or whoever books the gig) just reduce the total payout for everyone or do you have everyone fill out their own W9?
We have a few more gigs like this coming up so I am trying to think ahead. Thanks in advance
.
We are playing a festival gig on Memorial Day, paying $1,500. They require all vendors to fill out a W9. We aren't big enough to have an LLC so I just filled it out as an individual so I'll be the only one taxed next year. Do you (or whoever books the gig) just reduce the total payout for everyone or do you have everyone fill out their own W9?
We have a few more gigs like this coming up so I am trying to think ahead. Thanks in advance
.
5
Posted on 4/27/21 at 1:21 pm to Drunken Crawfish
live dangerously and don't report them, or just have one guy in the band that has to take the hit.
I've only had to fill out an I-9 a couple times for shows at the House of Blues in New Orleans where we weren't getting paid more than a couple hundred bucks, so it was nbd. $1500 is a little more noticeable. If you're to the point that you're getting $1,500/show, I think it's probably time to make an LLC to manage the money.
ETA: what's the gig?
I've only had to fill out an I-9 a couple times for shows at the House of Blues in New Orleans where we weren't getting paid more than a couple hundred bucks, so it was nbd. $1500 is a little more noticeable. If you're to the point that you're getting $1,500/show, I think it's probably time to make an LLC to manage the money.
ETA: what's the gig?
This post was edited on 4/27/21 at 1:24 pm
Posted on 4/27/21 at 2:01 pm to kingbob
quote:
If you're to the point that you're getting $1,500/show
Definitely not the norm which is why I am asking. Usually its the typical $100/p for local restaurant and bar gigs or a bit more for private parties.
quote:
live dangerously and don't report them, or just have one guy in the band that has to take the hit.
I am a pretty Xs and Os guy when it comes to finances so I definitely don't want to have anything outstanding. Just thinking of options.
It's a Memorial Day event for a local township. All covers.
Posted on 4/27/21 at 2:17 pm to kingbob
quote:
think it's probably time to make an LLC to manage the money.
Isn't it a decent idea to have one anyway? Like a mic stand hits some drunk and he wants to sue.
Posted on 4/27/21 at 2:35 pm to heatom2
quote:
Isn't it a decent idea to have one anyway? Like a mic stand hits some drunk and he wants to sue
It may be. Never really thought about it honestly. Like I mentioned above we are playing at bars or restaurants 90% of the time. I always assumed that any liability was covered under them. Is that not the case?
Posted on 4/27/21 at 2:45 pm to Drunken Crawfish
quote:
always assumed that any liability was covered under them. Is that not the case?
I honestly am not the best one to ask, the only bands I've been involved with had LLCs but they were larger outfits with double digit members. Not sure exactly what that does for you.
Posted on 4/27/21 at 4:55 pm to Drunken Crawfish
Taxes?
Posted on 4/27/21 at 8:39 pm to Drunken Crawfish
You sound like a budding manager eager to rip someone off
This post was edited on 4/27/21 at 9:27 pm
Posted on 4/27/21 at 10:52 pm to Drunken Crawfish
I would take out some from everyone’s pay to cover it and give yourself a little extra because you have to deal with the tax crap.
Posted on 4/28/21 at 7:12 am to Drunken Crawfish
There should be expenses to offset that. Pay mileage to members driving to the gig and buy equipment.
Posted on 4/28/21 at 1:01 pm to SEClint
quote:
You sound like a budding manager eager to rip someone off
For asking a question about how other groups handle tax implications? Don't project your insecurities from past mistakes on me.
quote:
There should be expenses to offset that. Pay mileage to members driving to the gig and buy equipment.
I may look into that. Sounds like it could just be easier to do an LLC and get paid through there for future stuff like this. I upgraded our sound system last year so I wonder if I can roll that under an LLC too.
This post was edited on 4/28/21 at 1:04 pm
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