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

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