So, I heard yesterday, if I teach a few people over the weekends and define the job as a sole proprietorship, I can claim some itemized deductions on my taxes. Is this true? Among those I heard:

- A fraction of monthly piano payments (as "business equipment")
- My own piano lessons (as "educational training")
- Piano tuning, regulating, etc. ("equipment calibration")
- Traveling expenses ("business travel")
- A fraction of monthly mortgage payments (piano studio is my "office area")

Can anyone help me confirm or deny these statements? Thanks so much.

you should check with your accountant. i've always been a sole proprietor and have always deducted such expenses on the advice of my accountant. but you need to be careful in the area of travel--it must really be for work--and in the area of your mortgage payments.

the irs is very, very strict about home offices and claiming one can land you an audit. it can not be an area of a room. it has to be a separate room that is used for no other purpose. and you can't just deduct part of your mortgage. best to talk to an accountant.

Yes you may claim dedcutions, but by doing so you must file for self-employment. That's what I do, but I also have to keep meticulous records. As far as studio space goes, it has to be a separate annex/room of your home.

Hire an accountant who specializes in self-employment, they will usually be able to find you all the deductions you need. God made Republicans for a reason - use them wisely.

good point about the self-employment taxes, brendan. if this is just a hobby or part-time thing, you really do need a cost/benefit analysis. if you itemize deductions because of just a little bit of piano teaching income, you might be shortchanging yourself on your regular income. most people with jobs do better by taking the standard deduction. you can't do that if you claim a sole proprietorship and get the benefits you are seeking.

don't try to do this yourself. while sole proprietors often have meager incomes, they are also among the most in need of a talented accountant.

Also, MTNA publishes a booklet on tax information for piano teachers.