Coli Industry Insiders... What's a Tax Write-off?

[360dagod]

You mean what's a jae millz

 

[razassin]

Tax write off might be the wrong word for it but maybe robbery is the right word. Claim you (aka the label) have spent x amount of dollars on said artist (budget, studio time etc) but really is was you (boss, manager or whoever else) who took out the expenses and write off the rest.

Might sound dumb idk but im just throwing out shyt.

This might be how Birdman blew thru the last 150 million dollars universal gave him, n thats why he aintput out the crter 5 or aint put on any artists with a big budget

 

[Piff Perkins]

Usually when older artists are signed it's a matter of catalog. If you can buy out their old contracts you can make money off the catalog while also putting them out on tour. Bad deal for the artist usually but they do it believing this is a second chance or re-do. In reality they end up getting a couple remixes, mini tour and never release anything new while the new label eats off their publishing.

 

[Rembrandt]

Let me run this hypothetical by you. If I have to have a million dollars less than I have in order to fall into a lower tax bracket that will have me paying two million less in taxes, couldn't I sign a artist and throw a million at him that I know I'll lose? I dunno but I can see the tax write off thing working in some situations.

Yeah, write it off as a loss.

 

[nonumbmind]

It’s a term that’s thrown around in ignorance a lot. Signing someone for a write off dosent make sense financially, as you can only write off an expense. And there are limits and maximums to how much you can write off. For example, some people think that you can write off all of your charitable contributions, which is not true. All of these write offs have caps.

So artist can be tax write offs, but no one is signing an artist with the intentions of a tax write off. That’s what you would call hustling backwards.

So basically, you can only write off something where you took some type of fiscal loss, and you can’t write off the full amount or even close to it. So if you are doing a write off, you are never fully recovering what you spent or lost. So no one is getting signed to be written off.

This

BUT records labels are probably using hollywood accounting to somehow earn money from it

 

[IVS]

Floyd Mayweather signing King Yella

 

[CSquare43]

We all have read or heard about this term in life... Its been discussed in the rap game before by industry giants like Jay Z sayin it doesnt exist...

Jay said this doesn't exist??

Odd because I know a former Roc artist that was very much a tax write off.....

 

[JordanWearinThe45]

nikkas like Jae Millz, Gutta Gutta etc