S. 194 aims to amend the Internal Revenue Code of 1986 to allow producers to deduct certain costs associated with sound recording productions, in a similar manner to film, television, and live theatrical productions. This bill establishes that up to $150,000 of a sound...
S. 194 wants to let music makers spend more upfront on recording costs, just like filmmakers, so they can save money on taxes quickly, but it has rules to ensure it's fair and not misused.
H.R. 761 proposes changes to the Internal Revenue Code of 1986 to allow creators of sound recordings to expense certain production costs immediately, rather than capitalizing them. This means that the costs of producing qualified sound recordings—created and recorded in the...
Here's a bill that changes tax rules so people who make music in the U.S. can spend less money on taxes by writing off their music-making costs right away, instead of waiting. It helps small music projects but might be tricky for bigger ones or those made outside the U.S.
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