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taxes on recording label

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ismael7777
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taxes on recording label  Reply with quote  

how are taxes imposed on a recording label?
Post Mon Jul 06, 2009 7:36 pm
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JamesKim
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The first question to ask is how do record companies generate revenue? In the recording industry, most likely advertising, but more importantly, royalties. Now I was looking over my tax textbook and it can reported on either Schedule C or E. If you're actively receiving royalties as part of your business, then that is reported on Schedule C. Schedule E would be used if that is not your business, more or less a side thing. I'm not sure if 15% is imposed on self employed businesses, which would be reported on Schedule C. Maybe someone can figure that out for me.
Post Tue Jul 14, 2009 10:27 pm
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