"What is a Tax ID number and Do You Need One for Your Label?" If you pay attention to the media, taxes and hip-hop don''t seem to be good friends. How many stories have you heard about big stars who owe back taxes? How many times have I gone to events and artists didn''t realize they could write off the mileage, food, and hotel for the events on their taxes? We file our taxes using our social security number but businesses use what''s called an EIN, Employer Identification Number. It''s basically an ID number used and given by the US Federal Government to businesses for tax purposes and other filings with the government. The default category if you haven''t filed as a corporation or an LLC (Limited Liability Company) is what''s called a Sole Proprietorship, which means you are only owner (''sole proprietor). If that is the case, then you can just use your personal social security number for your taxes and you don''t need to apply for a separate number.So say I wanted to start ESSINCE PRODUCTIONS. I''m the only owner and the only artist for the time being but I want to protect my personal assets in case of a lawsuit somewhere down the road and I decide to incorporate my company or make it an LLC (this is also true for partnerships), then I will need to apply for a tax ID number. Even though I''m the only owner and worker, the government sees my business entity as a separate person so I''ll need a separate tax ID number. If I am going to hire employees then I do need a new tax number.You also may not want to use your social security number every time you apply for a business credit card or if you''re hired as an independent contractor for a project some companies may want you to have one so it doesn''t appear that you are their employee.Luckily applying for a tax ID number is free and easy. There is a simple form on the IRS'' website (https://sa.www4.irs.gov/modiein/individual/index.jsp) and you will get your tax ID number immediately. Your tax status doesn''t change and you don''t have extra taxes you need to pay just for having one but it makes your filing easier when you separate personal and business.
Everyday someone is dropping a mixtape & it''s the HOTTEST EVER! The biggest DJ hosts it and they''re about flood the streets. With music (especially hip hop) being so saturated the difference between a win and a loss could be something as simple as presentation. Your cover art or disc labeling could separate your project from the pack.The presentation of it is key for any one planning to sell a product. Quality materials add value to your album/mixtape. Proper packaging creates the perception that you have invested in the project & it will be worth the money. If you don''t show that you are serious about how your items look then people may conclude that the music is also approached that way. People always judge. Even if they say they don''t. How your packaging looks is your music''s first impression on the consumers. It should draw eyes to the project on shelves & websites alike. Interesting artwork & CD printing may seem like an unimportant part of putting your mixtape/album out but it is basically the first step to building interest in you to people you haven''t directly approached or marketed to.Using high quality materials can extend your music''s shelf life long after you''ve moved on to something else. The wrong case or low quality materials could be more damaging perceptually & leave the product more vulnerable to damage. Present your project professionally & increase the appeal to generate profit.Written by Karyn Shanks (@MeanGirlzMedia) for The College of Hip HopEnroll now at www.thecollegeofhiphop.org for 19.96 a year to gain more knowledge and understanding of the arts and entertainment business
I've decided to chronicle my fitness journey. I have used the birth of my son to scapegoat the fact that I gained 75 pounds during the course of my wife's pregnancy. Now let me preface this article by explaining that I was at one point a lean mean fitness machine. Now I'm more of a big sloppy sack of sand.
It takes an indomitable spirit to conquer abuse, abandonment, incarceration, homelessness, and depression. It takes a bold person to unabashedly communicate those experiences to the world. Ken Brown is just that- resilliant, bold, and a manifestation of the American Dream. His story is one of tragedy, triumph, insurmountable struggle, and imeasurable success. Ken Brown is a remarkably bold man who has overcome unimaginable adversity. The pain from his past has become the platform for his present success. Ken is a world renown, impassioned, award winning speaker. He empowers audiences across the globe with electrifying and emotional speeches that affirm the greatness within us all. To appreciate his purpose, you must first understand his past. Ken Brown was born on the back seat of a cab, then abandoned by his birth mother. Ken was adopted into an abusive family, and was was bulied at school by the students and teachers. One teacher even called Ken "stupid" after he failed the 5th grade and again in the 6th grade. Anxiety and depression led Ken to begin cutting himself as a teenager. After Ken was diagnosed with Bipolar disorder in his early 20''s, his life spiraled out of control. He had been in and out of jail, homeless, sleeping in abandoned buildings and on park benches. "I felt emotionally and mentally defeated. I started thinking about killing myself again. I was at rock bottom" At the age of 25 Ken Brown had a nervous breakdown. Ken was hospitalized where he recieved treatment and began the road to recovery. "It took me hitting rock bottom to realize that I was the only person with the strength to lift myself up." With therapy and medication, Ken learned to manage his mental and emotional health. While in the hospital, Ken had time to reflect on his life and surmised "I''ve been through so much and I''m still standing. There''s a purpose in that pain."