What expenses generally incurred by a musician in the production of a sound recording (to be on cd) are tax deductible?

(a) aquire instrumentation (from an established other self-employed)- $1000 (b) write song pens, paper, etc - $10 (c) rent a recording studio (established other business) - $250 (d) hire feature performer (established other self-employed) - $500 (e) rent mixing studio (established other business) - $250 (f) post production/mastering (established other business) - $300 (g) cover/liner design etc. (established other business) - $200 (h) copyright - $90 (i) *other* transportation to/from studio self $25, meals self $25, media storage $30, postage $40 (j) cd replication (established other business) - $1500 Asked by B 55 months ago Similar questions: expenses generally incurred musician production sound recording cd tax deductible Business > Taxes.

Similar questions: expenses generally incurred musician production sound recording cd tax deductible.

” and volume to each song relativeAlan Friedman is a CPA and Senior Partner with themusic stores, instrument and product manufacturers,accounting firm of Friedman, Kannenberg & Company,recording studios, music schools and other music industryto the entire CD as a whole. Lastlylocated in West Hartford, Connecticut. He holds aprofessionals.

Alan resides in West Hartford, Connecticutthe CD master needs to be repro-Bachelor and Masters degree in Professional Accounting,with his wife and three children. In his spare time, heduced, along with an artisticallyand has been employed by United Technologies and therecords music in his basement studio (www.alhomeboy. Pleasing CD jacket.

Add the costinternational accounting firm of Ernst & Young. Com) and plays lead guitar in the all-CPA rock band “TheAlan and his firm have extensive experience in providingAccounting Crows” (www.accountingcrows.com) andof photography and graphicaccounting, tax and consulting services to the musicthe print music industry band “Printz. ” E mail Alan atdesign, and you’ve undoubt-industry, servicing professional musicians and bands,[email protected].

Edly got thousands (if not tensof thousands) in CD productionEvery March and April, as we prepare scores of tax returns forcosts…and that’s before you’vespent the money to duplicate theour musician clients, the question of deducting CD productionCD for public consumption. It’s no wonder that any musi-costs is inevitably raised. Cian doing his/her own CD wouldwant to get a tax deduction forthese production costs.

Unfortu-Even before I did my first CD oflistening pleasure but also to helpstupid or very naïve (or arguablynately, the IRS has some differentbad 80’s rock tunes, I wondered ifpromote, achieve and sustain aboth) for a couple of reasons. Thoughts about allowing you aall of my CD production expensessuccessful career in music. ThisA long time ago I thought my“current year” deduction forwere deductible.

After all, ourpartly explains why musiciansinvestment in recording equip-these costs, resulting in less taxtax laws are built on the premisesometimes wonder whether theyment would remain at the couplepaid to Uncle Sam. That any expense incurred in thecan get a tax break for making aof thousand of dollars for myThe “Unicap”production of income is generallyCD. But the variety, magnitudeTascam mixer and 8-track tape-Rules Of 1986deductible.

But my right brainand timing of CD production costsbased recorder. But somehowstarted to cross over to my leftis usually what causes your typi-that evolved into spending tensIn 1986, a new tax act createdbrain with questions like “Whatcal musician to find themselvesof thousands (or hundreds ofSection 263A of the internal rev-if I incur big recording expensesthousands of dollars if you askenue code which governed the tax“Can I deduct allbut don’t have CD sales incomemy wife) for constant equipmenttreatment of costs incurred in theright away? ” or “Can I imme-upgrades over the years.

Theproduction of tangible personalof the expenses Idiately deduct money spent onTascam recorder got replaced byproperty, like sound recordings. Recording equipment? ” leading,ADATs, which later got replacedThis new section of law (alsoincur in the mak-up to the big question “Can Iby a modular digital 24-trackreferred to as the “Uniform Capi-deduct all of the expenses I incurrecorder, which was furthertalization Rules” or “UNICAP”)....., Sources: http://docs.google.com/viewer?a=v&q=cache:n21Bg8oZjAQJ:fkco.com/images/music%2520articles/Drumhead-CDCosts.pdf+expenses+generally+incurred+by+a+musician+in+the+production+of+a+sound+recording+(to+be+on+cd)+are+tax+deductible&hl=en&pid=bl&srcid=ADGEESi1ID8wQwPjzJETCvXXX78OuWsG1hc5YbSLv-lLYcBUy1cqH2s7CVkPYdvlL6SC9AD8X7IBCp8F--tnv2b9DQKqFOUk_kIJa563wM6ioFI_dVHrtJpoodJJ0iUBW8lQ7AVnSFAw&sig=AHIEtbTMhKH7_9kOoyYwZJJA5C1X8-m8IA .

The Cost of Doing Business Hope this information will help you in some way ::The Cost of Doing BusinessWhen releasing your own CD, every penny counts. While working out your budget, you should take a good look at the various costs side by side so you can decide where it might be worth spending more and where you can cut back. For example, the scope of your release will determine how much you spend on CD pressing and advertising.

Or, if you already have a Web site and can update it yourself, you can cut that cost out of your budget. Also bear in mind that the costs listed here are for releasing a CD. Depending on your sales goals and how much of your income is dependent upon your music, you may need to factor in the recurring costs of running a music-related business such as accountant fees, business cards, promotional items, insurance, and so on.

Incurred Cost Low End gh EndFictitious Business Name Statement $25 $50Business License $20 $200Reseller's Permit $0 $200Office Supplies $10 $30Accounting Software $30 $90Mastering $0 $600Copywriting $100 $400Photography $350 $500Graphic Design for Disc $0 $400CD Manufacturing $1,200 $1,500UPC Code $0 $750Copyrighting Sound Recording $30 $30Press Kit Supplies $180 $200Phone and Postage $175 $200Web Site $0 $1,000Advertising $300 $1,200Total: $2,420 $7,350 Sources: http://emusician.com/mag/emusic_add/ .

I cant really gove you an answer,but what I can give you is a way to a solution, that is you have to find the anglde that you relate to or peaks your interest. A good paper is one that people get drawn into because it reaches them ln some way.As for me WW11 to me, I think of the holocaust and the effect it had on the survivors, their families and those who stood by and did nothing until it was too late.