I operate a band that makes under $4k a year. A few shows a year we get paid larger sums of money ($600+ per gig), and the venue uses my SSN and sends me a 1099 around tax season. So the "band" money gets taxed at my personal tax bracket, which takes a decent sized chunk out of the band's earnings. Ideally, if the band were its own entity, the band wouldn't get taxed much because of how little it makes.
The band does not pay its members; we save the money and use it to buy more gear. There are no plans to pay members for anything other than travel expenses (gas mainly)...but I'm willing to drop this requirement if it's going to make things more complicated. Also, we don't need any type of joint-ownership. I will be the sole owner of the band "company".
I'm struggling with knowing how to set up the band legally, without jumping through too many hoops operating something like a full corporation.
I think that I need to get an EIN. However, do I also need to set up an LLC, an S corporation, something else? Because of how little the band makes, I don't really want to spent a lot of money by paying an accountant.
What is the best option to keep it as simple as possible while preventing the band from suffering by being taxed at my tax bracket?