Stop Setting up S Corp Record Labels

Starting an S-Corp LLC might seem like the smart move for new label and publisher owners, but it could lead to more headaches than savings. In this video, I break down why S-Corps aren't ideal for small music businesses unless you're profiting over $50,000 annually. From payroll requirements to potential IRS audits, learn why staying a single-member LLC might be your best bet to avoid unnecessary complications and keep your music business running smoothly. 00:00 - Let’s Talk 00:53 - How did we get here? The Saving Taxes Lie! 03:21 - Are you PROFITING 50,000 or better? 04:46 - What that paycheck needs to look like 06:03 - Payroll Services and Tax 06:45 - You can’t take owner’s draws 08:04 - What if I write myself a check or 1099 my business? 10:13 - Can’t I take a distribution? 10:26 - So why do they sell us this lie? 11:54 - What should I do then? 13:33 - Staying a single-member LLC 14:56 - If you use the S-Corp LLC ↓↓↓↓↓↓↓↓↓ 60 DAY RECORD LABEL COURSE https://www.musicmoneymakeover.com/60... ↓↓↓↓↓↓↓↓↓ BOOK A CALL https://www.musicmoneymakeover.com/bo... ↓↓↓↓↓↓↓↓↓ FREE STUFF 10 Major Steps to Increase Your Record Label's Profits https://www.musicmoneymakeover.com/10... ↓↓↓↓↓↓↓↓↓ ALL COURSES https://www.musicmoneymakeover.com/co... 60 Day Record Label™ PRO Course 60 Day Record Label™ Essentials Course Music Producer Contract Course 360 Deal Contract Course BOOKS & PRODUCTS The 60-Day Record Label Executive Edition https://www.musicmoneymakeover.com/pr... Grab the DISCOUNT Music Money Maximizer Bundle Here! https://bit.ly/MMMaximizerBundle Donate https://cash.app/$CaseyGMMM www.venmo.com/CaseyGMMM --------------------------------------------------------------- Follow Me and the Show TikTok:   / musicmoneymakeovershow   LinkedIn:   / casey-graham-04a63935   Facebook:   / musicmoneymakeover   Instagram:   / musicmoneymakeover   Video Copyright © 2024 Music Money Makeover LLC (www.musicmoneymakeover.com) --------------------------------------------------------------- #MusicMoneyMakeover