Tax Deductions for Speakers

Are You Familiar With the "Qualified Performing Artists" Tax Deduction?

By Bryan Caplovitz, Founder/CEO of SpeakerMatch

Job search expenses like SpeakerMatch may be tax deductible for you!

Job search expenses like SpeakerMatch may be tax deductible for you!

  • Dec 1, 2013
    Last Updated

Here's some information that may help you to save a lot during tax time. Note: I'm not a tax professional, so be sure to consult with one before filing your taxes.

Most people can deduct job-related expenses from their taxes, but only those which exceed 2% of their earned income. So if you earn $50,000 for the year, only those expenses which exceed $1,000 (2% of $50,000) can be deducted.

BUT, as a speaker, you may be able to claim the "qualified performing artist" deduction to get an even bigger tax break. If you are a qualified performing artist you can claim a deduction on all of your job-related expenses without being subject to the 2% floor. Speakers are considered to be performing artists in most cases, and job-search expenses such as SpeakerMatch meet the test of a job related expense.

To Get The Maximum Deduction:

  • You must have earned income from 2 or more employers.
  • You must have received at least $200 or more in wages from each employer.
  • At least 10% of your income must be from your performing artist job.
  • You must have adjusted income of $16,000 or less.
  • Your filing status cannot be married filing separately.

For more details, see:
IRS Publication 529

Even if you don't meet all the requirements above, you may still be able to deduct some portion of your SpeakerMatch membership. The tax deduction for certain job-related expenses is found in Internal Revenue Code Section 62. Qualified Performing Artist: IRC 62(b).

NOTE: The special deduction is only useful for performance artists who receive a W-2 as an employee. Freelancers and independent contractors (who receive Form 1099s) are always entitled to deduct all business expenses on Schedule C, so they do not need to use this special deduction.

As you probably know, SpeakerMatch is the fastest, easiest way to find available speaking opportunities. Unlike other services that give you information about upcoming EVENTS, we only provide you with listings of organizers who are actively seeking speakers. Plus, as a member, you will have a search engine optimized profile listed in our showcase for meeting planners to find based on location, expertise, and other criteria. If you haven't yet joined SpeakerMatch you can take advantage of our current promotion. Members are getting contacted directly each and every day through SpeakerMatch. See our special offer today at www.speakermatch.com/special

Best of luck during tax season!


Sincerely,
Bryan Caplovitz
Bryan Caplovitz
Founder
SpeakerMatch


P.S. I found a link on the internet to download TurboTax Home and Business with a $20 discount! I don't know how long the link will be good, so check it out now while it works. I'm not affiliated in any way, and not making any affiliate commissions from the link below. Just something I found that might be helpful to you.

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P.P.S. As I mentioned above, I'm not a tax professional. Check with one before following any tax advice!

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