Record label Cheat Code: How to run a tax free record label

Discover how to manage your record label tax-free effectively! This video breaks down essential tax concepts for new label owners, from write-offs and self-employment tax to maximizing your standard deduction. Learn about the real costs after taxes and why not paying taxes might not always be beneficial. Whether you're starting out or considering switching to an S-Corp, we cover all bases to help you retain more profit while navigating the complexities of IRS regulations. Plus, I'll introduce you to our 60-Day Record Label course and a free guide to boost your label's profits. Join us to transform your understanding and strategy regarding taxes in the music industry. 00:00 - Let’s talk! 00:27 - What are Write-Offs 01:15 - How Write-Offs Should Be Interpreted 02:42 - Self-Employment Tax 03:37 - U.S. Standard Deduction Status 03:59 - Federal Tax 04:27 - State Tax 05:20 - Running the Label TAX-FREE 08:24 - “Is not paying taxes a good thing?” 09:32 - “When should I switch to an S-Corp?” 09:59 - What are good expenses for the label to write off? 11:36 - Paying Taxes Below $100,000 11:54 - Not Paying Taxes Below $100,000 12:08 - My Final Thoughts ↓↓↓↓↓↓↓↓↓ 60 DAY RECORD LABEL COURSE https://www.musicmoneymakeover.com/60-day-record-label-course ↓↓↓↓↓↓↓↓↓ BOOK A CALL https://www.musicmoneymakeover.com/bookacall ↓↓↓↓↓↓↓↓↓ FREE STUFF 10 Major Steps to Increase Your Record Label's Profits https://www.musicmoneymakeover.com/10-major-steps ↓↓↓↓↓↓↓↓↓ ALL COURSES https://www.musicmoneymakeover.com/courses - 60 Day Record Label™ PRO Course - 60 Day Record Label™ Essentials Course - Music Producer Contract Course - 360 Deal Contract Course BOOKS & PRODUCTS The 60-Day Record Label Executive Edition https://www.musicmoneymakeover.com/product-page/the-60-day-record-label-executive-edition-ebook-audiobook Grab the DISCOUNT Music Money Maximizer Bundle Here! https://bit.ly/MMMaximizerBundle Donate https://cash.app/$CaseyGMMM www.venmo.com/CaseyGMMM --------------------------------------------------------------- Follow Me and the Show TikTok: https://www.tiktok.com/@musicmoneymakeovershow LinkedIn: https://www.linkedin.com/in/casey-graham-04a63935/ Facebook: https://www.facebook.com/MusicMoneyMakeover/ Instagram: https://www.instagram.com/musicmoneymakeover/ Video Copyright © 2024 Music Money Makeover LLC (www.musicmoneymakeover.com) --------------------------------------------------------------- #MusicMoneyMakeover