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#598679 - 05/23/20 11:33 AM [Off-Topic] Paging music distribution/sync licensing tax knowledgeable folks (US)
Registered: 12/05/11
Posts: 8917
Loc: GA USA
Janice & Bud Offline
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Registered: 12/05/11
Posts: 8917
Loc: GA USA
For 2019 our songs that were distributed to streaming platforms by Songtradr and our 25 sync licensed songs via Songtradr actually earned us some money. Being old and a pensioner this is the first earned income we had in many a year. Songtradr collects no tax info on members so how do I report this? Is there a quick and easy way to do it? The amount of money we spend on music production software would exceed the income but I have zero interest in getting into something complicated. We're only looking at a couple hundred bucks.

Thanks,

Bud

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#598685 - 05/23/20 12:45 PM [Off-Topic] Re: Paging music distribution/sync licensing tax knowledgeable folks (US) [Re: Janice & Bud]
Registered: 07/12/00
Posts: 20162
Loc: Hudson Valley & Lake George NY
Matt Finley Offline
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Registered: 07/12/00
Posts: 20162
Loc: Hudson Valley & Lake George NY
If you are a business then file a Schedule C. This allows you to offset your income with music production-related expenses, which you cannot otherwise deduct. You need to show a profit in 3 out of 5 years, and act in other ways like you are a business. It’s more complicated than this, but there is a start.
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#598687 - 05/23/20 01:03 PM [Off-Topic] Re: Paging music distribution/sync licensing tax knowledgeable folks (US) [Re: Janice & Bud]
Registered: 12/05/11
Posts: 8917
Loc: GA USA
Janice & Bud Offline
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Registered: 12/05/11
Posts: 8917
Loc: GA USA
Thanks Matt

As mentioned, I'm but a retired old phart on a government pension. No business. And no intent of creating a LLC or any other entity.

We owned a bike/kayak shop 20 years ago. That was enough for us.

Almost makes me wish I had not earned it smile

Bud

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#598699 - 05/23/20 02:22 PM [Off-Topic] Re: Paging music distribution/sync licensing tax knowledgeable folks (US) [Re: Janice & Bud]
Registered: 06/08/05
Posts: 7450
Loc: Redondo Beach, Ca.
jazzmammal Offline
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Registered: 06/08/05
Posts: 7450
Loc: Redondo Beach, Ca.
Haha, don't worry about it. As the resident tax guy, legally you have to report all income no matter what ASSUMING you have a filing requirement in the first place. If you have no intention to do this as a profit making business just throw a couple hun as Other Income, forget a Sch C.

Depending on your total taxable earnings there may not be any tax on it anyway but you at least reported it. If you don't have a filing requirement then a few hundred won't make any difference to that calculation and even if it does, nobody's coming after you for $10-20 in tax. Add a zero to that number, it could be a different story.

Having said that, I know nothing about your situation. For all I know you have a 200K AGI from pensions, investments, rental properties or whatever. In that case yes, definitely include it as Other Income. If you already have a Sch C for something else I would just add it to that Sch C's income. It's not technically correct but you did your duty and included the income. I wouldn't create a new Sch C over two hundred bucks and trust me the IRS doesn't care either.

Bob
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#598764 - 05/24/20 05:43 AM [Off-Topic] Re: Paging music distribution/sync licensing tax knowledgeable folks (US) [Re: Janice & Bud]
Registered: 12/05/11
Posts: 8917
Loc: GA USA
Janice & Bud Offline
Veteran

Registered: 12/05/11
Posts: 8917
Loc: GA USA
Thank you Bob. That was very helpful.

Our tax scenario is simple with income consisting of my pension, SS and a couple of tanked IRA‘s - zero debt and the standard deduction. AGI is relatively modest. We’ll add it to “Other” and trust that The feds make good use of the 20 bucks smile

Appreciate it.

Bud

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#598771 - 05/24/20 07:08 AM [Off-Topic] Re: Paging music distribution/sync licensing tax knowledgeable folks (US) [Re: Janice & Bud]
Registered: 12/27/03
Posts: 13895
Loc: Hamlin NY
MarioD Offline
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Registered: 12/27/03
Posts: 13895
Loc: Hamlin NY
A few years ago I was teaching part time and the rule then was if the total amount made was less than $600 all you do is list that amount on your tax form. $600 or more you had to fill out an extra form.

The safest way is to ask a local tax accountant as state tax laws very from state to state.
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#598817 - 05/24/20 12:00 PM [Off-Topic] Re: Paging music distribution/sync licensing tax knowledgeable folks (US) [Re: Janice & Bud]
Registered: 12/05/11
Posts: 8917
Loc: GA USA
Janice & Bud Offline
Veteran

Registered: 12/05/11
Posts: 8917
Loc: GA USA
Thanks Mario, folks my age don't pay state taxes in GA smile

I located this and it seems to address my issue and your prior situation. This does not vary from what Bob has already pointed out.

"Unless the income is considered a gift, you need to report all income that is subject to US taxation on your tax return. The $600 limit is just the IRS requirement for Form 1099-MISC to be considered necessary to file by the payer.
You will report this income as other miscellaneous income on line 21 of your 1040. This income will not be subject to self-employment taxes."

Bud

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PG Music News
DAW Plugin FAQs Resource!

We've added a new Band-in-a-Box DAW Plugin for Mac FAQ to our FAQ and Knowledge Base Forum - make sure you check it out!

This is where we'll be sharing any solutions we discover for frequent problems reported while working through our DAW Plugin tech support.

Like this post from Andrew: StylePicker does not see my styles and RealTracks, or they are showing as N/A.
Click here for the solution.

Windows user? Click here for your forum links.

Holiday Hours - Canada Day (July 1, 2020)

We are celebrating Canada Day on Wednesday, July 1st - but we're still here!

Our Customer Service hours that day are adjusted to:

Wednesday, July 1: 8am-4pm PDT

Regular Hours resume Thursday, July 2nd.
www.pgmusic.com/contact.htm

Add-ons Special Almost Over! Xtra Styles PAK 9 & Loops-with-Style PAK 2...

Add-ons Special Almost Over! Xtra Styles PAK 9 & Loops-with-Style PAK 2...

There's still time to SAVE when you SUPERCHARGE your Band-in-a-Box® 2020 UltraPAK, UltraPAK+, or Audiophile Edition with 200 new RealStyles with Xtra Styles PAK 9, and 100 NEW Loops & 50 NEW Styles with Loops-with-Style PAK 2!!

They are on sale until June 30th - time is running out!

Xtra Styles PAK 9 includes deep-south New Orleans gospel, a country soul groove, a psychedelic pop ballad, action-sequence cinematic metal, a Cajun jaw harp boogie, post-punk folk rock, quarter-feel jazz blues, several modern jazz styles, a modern Celtic folk reel, multiple 6/8 grooves, and so much more! There's a MultiStyle in every genre, and our biggest MultiStyle has a total of ten substyles! Add it to your collection today for just $29 (reg. $49)!

Loops-with-Style PAK 2 includes 50 new Styles & 100 new Loops to add to your Band-in-a-Box® collection! There are two new genres: gospel and funk, and we've added to the selection for electronic, hip hop, jazz, pop, R&B, rock, and world! Purchase Loops-with-Style PAK 2 on sale for only $19 (reg. $29)!

Already have a few of our Xtra Styles PAKs? Top up now - each of our 9 Xtra Styles PAKs are just $29 (reg. $49)! Don't have any, and want them ALL? Grab all during our sale for just $199 (reg. $349)!

Learn more about Xtra Styles PAKs for Band-in-a-Box and listen to demos here.

More information on Loops-with-Style PAKs can be found here.

Mac user? Click here for OS specific purchase links.

An Updated Band-in-a-Box® 2020 for Mac is Here!

The latest Band-in-a-Box 2020 update announcement is HUGE!

With this updated version, easily find your (purchased) Xtra Styles PAK 9 RealStyles in the updated StylePicker window, [ctrl] and [shift] shortcut keys will allow you to open your RealDrums picker and preferences windows with one 'click', there are improvements to Bar Based Lyric entry, stable playback of style demos, the UPDATED DAW Plugin is included, and more!

The updated DAW Plugin 2.9.41 adds additional and redesigned action buttons, refined DAW syncing, Chord Sheet enhancements, improvements to MultiRiffs, RealTracks, RealDrums, and MIDI features, and so much more!

We've made a video that highlights all the changes to the DAW Plugin with build 2.9.41: Watch it...

Learn more about the newest Band-in-a-Box® 2020 for Mac b412 and download here.

Updated Band-in-a-Box® 2020 and VST DAW Plugin for Windows!

Did you see the latest build update announcement for Band-in-a-Box® 2020 for Windows?

It’s PACKED with powerful updates, including additional RealCharts, improved RealStyles demos, language support, and significant additions and improvements to the DAW Plugin!

The updated DAW Plugin 2.9.41 adds additional and redesigned action buttons, refined DAW syncing, Chord Sheet enhancements, improvements to MultiRiffs, RealTracks, RealDrums, and MIDI features, and so much more! In fact, we’ve made a video that highlights all the changes to the DAW Plugin with build 2.9.41: Click here to check it out.

Learn more about the newest Band-in-a-Box® 2020 b724 for Windows and download it here.

#TipTuesday Band-in-a-Box® Online Manuals - An Excellent Resource!

The Band-in-a-Box® program manuals are available on our Support page - what an excellent online resource to help you get the most out of the program!

Head to our Support | Online Manuals page and you'll have access to both a PDF and an online program manual for Band-in-a-Box® 2018-2020 and RealBand 2018-2020!

Bookmark www.pgmusic.com/manuals/ today!

Review - Xtra Styles PAK 9 for Band-in-a-Box® 2020

Remember that wonderful review of Band-in-a-Box® 2020 for Mac we received last month from "Dr. Dave" Walker, Band-in-a-Box 2020 for Mac … WOW!?

Well, Dr. Dave is at it again! He's had a chance to work with the newest Xtra Styles PAK 9, and shares his thoughts in his recent Xtra Styles PAK 9 for Band-in-a-Box 2020 – Worth It? post at Dr. Dave On Music - make sure you check it out!

Sneak peak...
...PG Music has gone deeper into several styles, using more or fewer instruments, adding unexpected ones, and giving some surprising make-overs. Others are more focused versions of particular styles with more extreme attention to the best of that genre. Other ones combine styles that sound great, such as adding a banjo to a rock or blues track, or a jazz sax to a folk style. There are many wonderful combinations to try out that will expand any songwriter or arranger’s palette. These are the things that make certain songs stand out, and experimenting with them is not just fun (a lot of fun!) but it will expand your horizons on what is possible and even excellent. For instance, my light jazz arrangement worked very well as a country song, which floored me, and also as a folk-alt-jazz fusion. One sax solo was worth the price of admission alone, as it sounds terrific in any of the arrangements.
-"Dr. Dave" Walker

Again we say, "Thank you for the review Dr. Dave!" - we really enjoyed reading this enthusiastic review!

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