158 - Charles Harris, CPA on Tax Prep Tips and FAQs for 2025

Happy new year! For a lot of studio owners, January represents the beginning of tax season so I've got Charles Harris, a CPA, as our guest today to talk about all things self-employment taxes. We'll cover a bunch of things including the earning thresholds for when you need to earn to start filing taxes and what to do if you did not earn a profit in your business this year (spoiler: it can benefit you to file anyway!). We'll also talk about what's different for the 2024 tax year and what we know (and don't know) about expected changes for the 2025 tax year. Plus, we'll share an exciting announcement about new services coming to Music Studio Startup this year and a new perk for Hub members! A full transcript and resources from this episode can be found at MusicStudioStartup.com/episode158.   MSS Tax Prep + Accounting Services for Music Teachers   Join the Hub: MSS Entrepreneurs Hub + Mastermind Q1 Mastermind Groups start Jan 27