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What is a qualifying performing artist? - Intuit Had allowable business expenses attributable to the performing arts of more than 10% of gross income from the performing arts Had an adjusted gross income (AGI) of $16,000 or less before deducting expenses as a performing artist If you’re Married Filing Jointly, this is the combined AGI of both you and your spouse
What qualifies as a performing artist? - Intuit Check below for all the requirements, hopefully you meet them You are considered a qualifying performing artist if you meet the following requirements: - Performed services in the performing arts as an employee for at least two employers during the tax year - Received at least $200 in wages from each of the two employers
Is my business an SSTB? - Intuit Performing arts Services performed by those who participate in the creation of performing arts, for example actors, singers, musicians, entertainers, playwrights, directors, and so forth are considered SSTBs
What is the Qualified Business Income (QBI) deduction? - Intuit by TurboTax•1330•Updated3 weeks ago The Qualified Business Income deduction (also called the QBI deduction, pass-through deduction, or section 199A deduction) lets most self-employed taxpayers and small business owners exclude up to 20% of their qualified business income (QBI) from federal income tax
I have a 1099-misc how do I know if it qualifies for qualified . . . - Intuit Specified service trade or business (SSTB), which includes a trade or business involving the performance of services in the fields of health, law, accounting, actuarial science, performing arts, consulting, athletics, financial services, investing and investment management, trading, dealing in certain assets or any trade or business where the
Is my kids piano and Dance lesson payments Tax Deductible in . . . - Intuit From Minnesota Income Tax Fact Sheet 8, K–12 Education Subtraction and Credit, page 4: My child is taking dance classes from a qualified instructor Do the fees qualify? Yes, fees paid for performing arts instruction qualify The cost of costumes, shoes, props, and travel are not qualifying expenses Qualified instructor (page 2) To be a qualified instructor, the person must meet one of the
QBI Deduction - Side Gig Former Employer - Intuit An SSTB is a trade or business involving the performance of services in the fields of health, law, accounting, actuarial science, performing arts, consulting, athletics, financial services, investing and investment management, trading, dealing in certain assets or any trade or business where the principal asset is the reputation or skill of one
Is this activity a qualified trade or business under Section 199A? “An SSTB is a trade or business involving the performance of services in the fields of health, law, accounting, actuarial science, performing arts, consulting, athletics, financial services, investing and investment management, trading or dealing in certain assets, or any trade or business where the principal asset is the reputation or skill