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Recommend Here’s A Tax Loophole Just Songwriters (Email)

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Guest post from Soundfly’s Flypaper. This article originally appeared on the Royalty Exchange Blog

Most of us songwriters have no idea that there’s a special tax loophole created just for us. For some artists, this change cuts our taxes right in half.

In 2006, Congress lowered the tax rate for songwriters who sell a part of their catalogs. It did this by reclassifying income from the sale of a catalog as “capital gains” instead of “ordinary income.”

Don’t worry, we’re not going to go full tax accountant on you. Here’s the simple explanation of what this means.

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