Members mmmiddle Posted March 8, 2011 Members Share Posted March 8, 2011 Our band is registered as a general partnership for tax purposes and this is my first year filling out the IRS form 1065 for it. For studio time, mixing, and mastering where would that get recorded? Is it under the "Cost of labor" section of Schedule A since it was labor used in the production of a good sold? Or is it just a service reported as an "Other deduction"? Or somewhere else? Link to comment Share on other sites More sharing options...
Members sventvkg Posted March 8, 2011 Members Share Posted March 8, 2011 Criminals...You need GOOD Tax professional. NOT H & R Block bull{censored}. I use Brito and Brito of Miami..When I had to beat the crap out of the IRS for criminally seizing my bank accounts and saying I owe them $15K when I knew I didn't, I used them. Link to comment Share on other sites More sharing options...
Moderators daddymack Posted March 9, 2011 Moderators Share Posted March 9, 2011 sven, answer the guys question Okay, the recording would likely fall under 'other services', since you had cash outlay for this rather than doing it yourselves, right? ...but..sven is right...if you guys are going to play the 'game', get good professional help. Link to comment Share on other sites More sharing options...
Members sventvkg Posted March 9, 2011 Members Share Posted March 9, 2011 I did answer his question but I added some colorful commentary Still waiting on out tax refund here..Bastards. Link to comment Share on other sites More sharing options...
Members BlueStrat Posted March 9, 2011 Members Share Posted March 9, 2011 Another vote for "kids, don't try this at home...get a pro!" Besides likely leaving a lot of money on the table you didn't know you had coming back to you, misreporting or miscategorizing deductions can be a can of worms should you ever get an IRS audit. The money a pro costs you is nothing compared to what they can do for you. Link to comment Share on other sites More sharing options...
Members mmmiddle Posted March 16, 2011 Author Members Share Posted March 16, 2011 I ended up buying the H&R Block business software and letting it fill out the form. Link to comment Share on other sites More sharing options...
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