List Your Terms

[Mindset]

hey, your from Dallas?? want to hit up the studio it's at the Sound Labs?

Me personally started a recording label (Mindset Entertainment). I USUALLY sell beats to clients in the physical form and with 3-4 different contracts that basically touch up on damn near everything except for plane crashes. Most of my sales come from word of mouth. With everything becoming digital, and the internet is more prominent than ever, I see profit in websites that are selling their own independent music. You build a website say for $300 dollars, with a merchant's account, and you pay $3-4 a month for hosting, and you start selling $50 dollar beats, 4-5 a week and you already paid back everything, and the rest is profit & time.

 

[bknot1]

goto http://www.futureofmusicbook.com/ or you local bookstore and pick up the book..its helpful..


most of the site sell the beats as royalty free...so it is officals your and whoever else use it..so who ever copyright it 1st..the people sellin this way is reall just after to make a quick buck..by sellin to however got the money..

 

[dnkygirl]

hey, your from Dallas?? want to hit up the studio it's at the Sound Labs?

Yes, i'm in D-town.. i've not heard of Sound Labs.. where are they located? I can see that just selling music without royalities can be profitable. I've been out of the music scene for a long time. I was heavy into it back in the 80's and 90's. I didn't like how the record companies had a monopoly on everything then... now... it's a whole new game... and one that's more in favor of the artist. Back then there really was no way for regular folks like us to make money in music unless you were a musician playing gigs at clubs or bars. Now you can actually turn a profit off of ideals... It's just how you market those ideals that gets the sales.

Thanks guys.. for the information... you are really helping me to see.... I really appreciate all those who have helped me on this forum... as annoying as i can be.. )


Demi

 

[dnkygirl]

One more question, how do you guys report sales profits on your taxes? Do you file a 1099 for the whole year or are you doing the quarterly tax?



Demi

 

[bknot1]

no problem..and no your not annoying..

 

[Mindset]

Yes, i'm in D-town.. i've not heard of Sound Labs.. where are they located? I can see that just selling music without royalities can be profitable. I've been out of the music scene for a long time. I was heavy into it back in the 80's and 90's. I didn't like how the record companies had a monopoly on everything then... now... it's a whole new game... and one that's more in favor of the artist. Back then there really was no way for regular folks like us to make money in music unless you were a musician playing gigs at clubs or bars. Now you can actually turn a profit off of ideals... It's just how you market those ideals that gets the sales.

Thanks guys.. for the information... you are really helping me to see.... I really appreciate all those who have helped me on this forum... as annoying as i can be.. )


Demi

Los Colinas, off of Royal LN & 161, or more like Royal LN & Macarther. Pretty nice size studio, 6/6 control/record rooms, 1 lab with 8 002/mixer setups' with MIDI, 1 recording truck, 1 live sound/broadcasting truck, numerous platinums came out of there. Pretty nice stuff. It's my favorite place to be other than being at home with the family.

 

[bknot1]

One more question, how do you guys report sales profits on your taxes? Do you file a 1099 for the whole year or are you doing the quarterly tax?



Demi

If I was paid with a check from a business that required my SS#(any indie/major label)they will be filing you as an expense and reporting that you recieved money from them(same as any other employer), yes the Gov't will be aware that you were paid. If it's personal check or straight cash, i wouldnt worry about it, but still put 10% aside just in case..

also keep a receipt book on the price you sold each beat for..

 

[Mindset]

no problem..and no your not annoying..

o0o BK winking at Dnky

play on playa lmao

 

[bknot1]

LOL......whatever your too funny..

 

[dnkygirl]

If I was paid with a check from a business that required my SS#(any indie/major label)they will be filing you as an expense and reporting that you recieved money from them(same as any other employer), yes the Gov't will be aware that you were paid. If it's personal check or straight cash, i wouldnt worry about it, but still put 10% aside just in case..

also keep a receipt book on the price you sold each beat for..

Hum.. i would still file a 1099 with the sales.. no one wants to be audited. That's a big red flag when you don't report your income, but file as a business. I filed as a new business this year and no profits. I'm hoping that in the next 2 years i will actually be able to turn a profit instead of showing no income, but alot of business expenses.

I have been doing alot of research and there's still things i need to understand... so i can be a legit business owner. I want to eventually do the website and post up material for sale.. i'm just not sure on the royaltie thing yet. I need to talk to a lawyer.. see which would be better for me. Mindset do you know any local entertainment lawyers that I could talk to about how to setup a business like this?

Man that studio sounds off the chain... I have been spending alot of time home bound researching and trying to write material. I also have been working with my brother and cousin getting them involved in the production aspect so that I can focus more on the business. These guys are young so they know what's hot and what's not. Again i'm from the old school so alot of my material is just R&B. I'm trying to learn as much as I can about the new styles so that i can re-invent my style. I have to admit when it comes to beat timing.. i'm like a serious retard. Right now i have a few songs i'm working on that my timing is in need of some real help.

I discovered reason and found it alot easier to program beats with it... so i have been working really hard to improve myself. I have also been spending some deep nights looking at training videos and reading up. On top of that i'm the IT Director for a local company here in town. So i'm always on the pc... geeking out.


Demi

 

[Mindset]

Hum.. i would still file a 1099 with the sales.. no one wants to be audited. That's a big red flag when you don't report your income, but file as a business. I filed as a new business this year and no profits. I'm hoping that in the next 2 years i will actually be able to turn a profit instead of showing no income, but alot of business expenses.

I have been doing alot of research and there's still things i need to understand... so i can be a legit business owner. I want to eventually do the website and post up material for sale.. i'm just not sure on the royaltie thing yet. I need to talk to a lawyer.. see which would be better for me. Mindset do you know any local entertainment lawyers that I could talk to about how to setup a business like this?

Man that studio sounds off the chain... I have been spending alot of time home bound researching and trying to write material. I also have been working with my brother and cousin getting them involved in the production aspect so that I can focus more on the business. These guys are young so they know what's hot and what's not. Again i'm from the old school so alot of my material is just R&B. I'm trying to learn as much as I can about the new styles so that i can re-invent my style. I have to admit when it comes to beat timing.. i'm like a serious retard. Right now i have a few songs i'm working on that my timing is in need of some real help.

I discovered reason and found it alot easier to program beats with it... so i have been working really hard to improve myself. I have also been spending some deep nights looking at training videos and reading up. On top of that i'm the IT Director for a local company here in town. So i'm always on the pc... geeking out.


Demi

Hey do you sing? Need some hooks on a couple of artist albums. probably more collabs in the future. I do have a friend that's a enter. lawyer, that helps me out on all my legal matters. I'll give him a call and see if he can help you on yours.

Are you going to plan to be self employed with no employees? or are you going to hire others eventually? There's a LOT of crap you gotta fill out monthly and weekly for employees setting up deposits EIN, and other things like that.

Well whenever your ready to lace some tracks let me know.

 

[dnkygirl]

Hey do you sing? Need some hooks on a couple of artist albums. probably more collabs in the future. I do have a friend that's a enter. lawyer, that helps me out on all my legal matters. I'll give him a call and see if he can help you on yours.

Are you going to plan to be self employed with no employees? or are you going to hire others eventually? There's a LOT of crap you gotta fill out monthly and weekly for employees setting up deposits EIN, and other things like that.

Well whenever your ready to lace some tracks let me know.

I'm not sure yet. My brother and cousin want to be in business together, but these guys are not business oriented. They are all about the music. I'm not sure how to structure it so that we all profit from it. Alone i could more than come up with the music, but again it's a learning process for me. They are already making stuff that sounds commercial. Then there's that commitment aspect of working with family. Sometimes they don't seem like they really want to make it happen. I have placed alot of expense in equipment and training and so far i am the only one completely performing all the tasks required to start the business. I'm thinking for my sanity i will be the sole owner and come up with some sort of agreement with them so that if we do sell their tracks they profit from it.

Oh and no.. I'm no vocalist.. i merely sing for reference on my own tracks. I know.. it's hard to find good vocalists to work with around here. I will keep my eyes open for you. Every now and then i find someone that's actually really good.

Demi

 

[Fieva]

Hum.. i would still file a 1099 with the sales.. no one wants to be audited. That's a big red flag when you don't report your income, but file as a business. I filed as a new business this year and no profits. I'm hoping that in the next 2 years i will actually be able to turn a profit instead of showing no income, but alot of business expenses.

I have been doing alot of research and there's still things i need to understand... so i can be a legit business owner. I want to eventually do the website and post up material for sale.. i'm just not sure on the royaltie thing yet. I need to talk to a lawyer.. see which would be better for me. Mindset do you know any local entertainment lawyers that I could talk to about how to setup a business like this?

Man that studio sounds off the chain... I have been spending alot of time home bound researching and trying to write material. I also have been working with my brother and cousin getting them involved in the production aspect so that I can focus more on the business. These guys are young so they know what's hot and what's not. Again i'm from the old school so alot of my material is just R&B. I'm trying to learn as much as I can about the new styles so that i can re-invent my style. I have to admit when it comes to beat timing.. i'm like a serious retard. Right now i have a few songs i'm working on that my timing is in need of some real help.

I discovered reason and found it alot easier to program beats with it... so i have been working really hard to improve myself. I have also been spending some deep nights looking at training videos and reading up. On top of that i'm the IT Director for a local company here in town. So i'm always on the pc... geeking out.


Demi

Since you're using Reason and you're always on the PC, I might have something you might want to take a look at. It's all about producing music in Reason and it's all in QuickTime video format so you can see what's being done instead of looking at pages of stuff (step by step). It's about 600 MB or so though so it's a pretty big zip.

Might have to put this on a yousendit and hand the address out.

Fiev.