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Tax for Recording/Mixing
Old 1 week ago
  #1
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Tax for Recording/Mixing

I'm sorry if this has been asked but all the searches I made here brought back results for shipping and tax, tax on reverb...etc.

I've just recently started my own studio and want to do everything by the books. I'm looking for someone to point me in the right direction. I can read the information myself, but I don't know where to start.

I'm trying to find out how I should go about paying taxes so that I don't end up owing money or getting in trouble with the IRS. I know that every state probably has their own laws about things and I'm located in NJ, but if anyone has any websites that have good advice or information on taxes and related legality, I would really appreciate it.

Thanks in advance.
Old 1 week ago
  #2
As far as federal taxes, you'd report your self employment income on Schedule C. From there, you'd file a normal form 1040, which will include that self employment income in addition to any other income. That is the simplest way, and assumes that you haven't incorporated your studio business. If you incorporate, it gets a little more involved.
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