HITS ACT and the TAXMAN
Prof Snyder's Music Biz News by AI Music and Music Industry Educator, Jeff Snyder
Episode notes
This is for anyone who records music, and is looking for a tax write-off.
The HITS (Help Independent Tracks Succeed) Act was passed last summer (2025), but it hasn't been publicized like No Tax on Tips. (Side note...the tips you get at gigs don't count!). This Act allows you to write-off any recording costs, up to $150,000, you may have had in 2025, but only 2025.
So if you need a tax write-off, start digging for those receipts!
Be sure your recording friends are aware and share this podcast...the TAXMAN is coming!
Keywords
HITS ACTMusician taxesrecording costs tax law 2025