Right now I have one jig at a Chick-fil-A (fastfood restuerant).
At this moment I make $35 an hour, two hours a week. That is suppose to change soon, so I will be working more like 5 hours a week.
So my question is, what is the limit to what I can write off?
-Could I write off a car?
-How much magic stuff?
-Cellphone bill? (even if I use it mostly for personal use, but as a contact for my magic business)
This is not a question that should be asked here. Too many smart a$$es will give you wrong information. Ask a tax preparer, CPA, or even the IRS office where you live.
As for writing off the gas, I do know about that. Got expensive for me because I thought I could do it. If you get ready at home and then go to the gigs, it is considered COMMUTING and is not deductible. Clothes, if you wear street clothes they are NOT deductible. A clown costume is deductible because it is a special uniform.
See it easy to make a mistake and then the penalties range from 5% to 50% of the total tax for the year. (Not the amount they say you owe, but the TOTAL of what you said you owed plus what they have just added on.) 5% if it is just a mistake, however if you have a lot of mistakes then it can go as high as 50% because they will say that is prima facia evidence of attempting to defraud the IRS.
Please see someone who does taxes for a living. The IRS just LOVES it when we do our own taxes and screw up.