Karaoke- tax deductible?

I am thinking about starting a karaoke business, just hosting weekly events in local establishments. I am wondering first, if I can get a business loan (I own a home) to purchase all the equipment, and/or can those purchases be tax deductible?
I am talking buying the mixing amp, speakers w/ stands, p.a. system, ~2,000 songs on CDG's, and a tv monitor. Any help would be greatly appreciated!

These items would be deductible. It doesn't matter what form of business you form. If you just go into business as a sole proprietor, you have unlimited liability. That means that if you default on business debts, creditors can go after your home and other personal assets. An S-corp or LLC can limit your liability, but they can be expensive to form and cost extra in taxes.

The equipment would normally need to be depreciated because it has a usefully life of over one year. It can be taken in one year under certain conditions, but when you sell it, you have to recapture the depreciation taken.

Yes, but only if you establish an LLC. You can run other expense through there as well, but remember you would have to pay taxes on the income as well.

Best to check with an accountant that knows about LLC or S-Corps.