To read the complete transcript and watch the podcast video, visit the episode blog.
Are you overpaying taxes as a musician without even realizing it? Many independent artists miss valuable write-offs, misunderstand IRS rules, or treat their music like a hobby instead of a business, and it ends up costing them thousands.
In this episode of the Successful Musicians Podcast, Jason Tonioli sits down with artist, accountant, and tax educator Hannah Cole to break down the tax write-offs musicians often overlook and explain how the IRS actually views creative work. From business vs hobby rules to startup losses, home studio deductions, and quarterly taxes, this conversation brings clarity to what can feel like a confusing system.
Hannah began her career as a working artist before going back to school for accounting after being failed by the financial system herself. Now she helps musicians and creatives understand how to run their work like a real business, take full advantage of tax deductions, and avoid costly mistakes.
Her book, Taxes for Humans, was written specifically for people who feel overlooked by traditional financial advice and need practical, visual tools instead of intimidating number crunching.
If you have ever felt confused, stressed, or overwhelmed by taxes, this episode will give you clarity and confidence.
What You’ll Learn
- Why musicians must think like business owners, not hobbyists
- The difference between a hobby and a business in the eyes of the IRS
- What “profit motive” really means and how to prove it
- How startup losses can benefit you tax-wise
- Why bookkeeping should never be done from a shoebox of receipts
- How a separate business bank account simplifies everything
- What counts as ordinary and necessary business expenses
- How education, software, gear, and studio upgrades become deductions
- Why Kickstarter income is taxable and how to offset it
- When and how to hire the right tax professional
Topics Covered in This Episode
- Hannah’s journey from painter to accountant
- Why money is an amplifier, not the enemy
- The mindset shift around artistic integrity and income
- Common tax mistakes musicians make
- Startup deductions most creatives miss
- Home studio and home office deductions
- Business mileage for gigs and sessions
- Client meals and collaboration expenses
- Quarterly taxes and self-employment basics
- Building simple systems that reduce stress every year
Who This Episode Is For
- Musicians running their own business
- Independent artists and creators
- Touring performers
- Songwriters and producers
- Crowdfunding musicians
- Creative entrepreneurs
- Artists overwhelmed by bookkeeping
- Musicians wanting financial confidence
- Creators building long-term sustainability
Connect with Hannah Cole
Website
TikTok
YouTube
Visual Guide to Performer’s Deductions (Free Resource)
Connect with Jason Tonioli
Website
Facebook
YouTube
Instagram
Spotify
Pandora
Amazon Music
Apple Music