Search the Community
Showing results for tags 'income'.
Hey yall So I am ending my first year of freelancing (spent my first few years operating in a full-time position) and have a quesiton about my kit rental. I understand that my day rate is normal taxable income, but is my kit/box rental? I was on one set and paid through CAPS and the box rental was considered "non-taxable income" on the time sheet. I received the check with the taxes already taken out of the day rates. Fine, whatever. But now I am finalizing all my income for all the gigs that I have been W9ed and have charged a daily labor rate as well as a daily kit rental. Is a kit rental considered the same kind of income as my day rate? My accountant says no, I believe him, but I figured Id come to yall, especialyl since I had a discrepancy on one payroll check. I realize that I can write off my purcahses for my kit, just wondering if anything changes with the income. Maybe its just wishful thinking. brett.