Production Quick Tip of the Week #26
Whether you're running a beat store, sound kit site, mixing & mastering service, or any other type of self-employed service, it's essential to make sure you keep records of your income & spending each month so that you can pay your quarterly taxes.
If you don't pay them quarterly (every three months), not only will you owe a bunch at the end of the month, but you will also be charged extra fees for not filing throughout the year.
It's also easier to pay in smaller increments throughout the year rather than one large sum at the end of the year. One thing I do, is I pay a little extra each quarter in case I miss something & if I didn't miss anything, I'd at least get a little bit of extra money back at the end of the year.
The important filing dates are the 15th of each quarter: April 15th, July 15th, September 15th, & January 15th.
Have a productive week, Be Different. Be Dope.
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Watch R&B Legend Tim Kelley and Others Cookin Up With Moon Rocks Drums In The Studio
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