What is a qualifying performing artist? - Intuit
Nov 30, 2023 · by TurboTax•40• Updated 9 months ago. You’re a qualified performing artist if you meet all of the following requirements: Performed services in the performing arts as an employee for at least two employers during the tax year. Received wages of $200 or more from at least two of those employers. Had allowable business expenses attributable ...
What qualifies as a performing artist? - Intuit
Jun 7, 2019 · You are considered a qualifying performing artist if you meet the following requirements: - Performed services in the performing arts as an employee for at least two employers during the tax year. - Received at least $200 in wages from each of the two employers. - Had allowable business expenses of more than 10% of gross income from the ...
Is my business an SSTB? - Intuit
Mar 18, 2024 · Services performed by those who participate in the creation of performing arts, for example actors, singers, musicians, entertainers, playwrights, directors, and so forth are considered SSTBs. Services related to the performing arts that use transferable knowledge and skills, such as those provided by disk jockeys, stagehands, costume designers ...
Solved: Schedule C: What is a qualified trade or business ... - Intuit
Jun 7, 2019 · Bookmark Icon. JulieR. Expert Alumni. A qualified trade or business is one that includes, most self-employed taxpayers and small business owners. It allows them to exclude up to 20% of their qualified business income from federal income tax (but not self-employment tax) whether they itemize or not. Yes, as a self-employed individual you are a ...
What is the Qualified Business Income (QBI) deduction? - Intuit
Performing arts; Financial services; Brokerage services (including investment management and investing, trading, or dealing in securities, commodities, or partnership interests) Engineering and architecture were specifically excluded from the SSTB definition as it …
Is a self-employed nurse suitable for a qualified business ... - Intuit
Feb 11, 2020 · An SSTB is a trade or business involving the performance of services in the fields of health, law, accounting, actuarial science, performing arts, consulting, athletics, financial services, investing and investment management, trading, dealing in certain assets or any trade or business where the principal asset is the reputation or skill of one ...
Solved: 1099K/NEC - Qualified Business Income?
Mar 20, 2021 · A5. A qualified trade or business is any trade or business, with two exceptions: Specified service trade or business (SSTB), which includes a trade or business involving the performance of services in the fields of health, law, accounting, actuarial science, performing arts, consulting, athletics, financial services, investing and investment ...
Do I Combine or Split Schedule C & SE? Married Couple LLC in
May 26, 2021 · A personal service activity is an activity that involves performing personal services in the fields of health, law, engineering, architecture, accounting, actuarial science, performing arts, consulting, or any other trade or business in which …
Once QBI deduction is used in one year, does the taxpayer have
Feb 12, 2021 · None of the businesses are a specified service trade or business, or SSTB (any trade or business involving the performance of services in the fields of health, law, engineering, architecture, accounting, actuarial science, performing arts, consulting, athletics, financial services, brokerage services, or any trade or business where the ...
What is the business code for coaching? - Intuit
Business Codes are used for statistical purposes only. You should pick a code that best fits your business activity. For example, if you are a sports coach you might choose "Spectator Sports" (711210) or "Promoters of Performing Arts, Sports, and Similar Events" (711300) If you are a life & business coach, then it would be (624100) Individual ...