Posted by still broke on April 28, 2002 at 12:14:44:
In Reply to: Re: Tubas- Are they Tax Deductible? posted by Possibly... on April 28, 2002 at 11:53:53:
I do play professionally, but still in the 15% tax bracket,(taxable income under $50,000) unless my wife gets a job-then I might be in the 25% tax bracket (over $50,000). I just wanted to think this scenario out. If I spend $17,000.00 or more in musical purchases this year, could this benefit me come tax time next year? If so, how? I really don't know how to make this beneficial and need some advice. Not to mention, we may buy our FIRST home at the end of the year, so this will complicate matters more.