As income tax deadlines approach, I experience my customary terror in trying to report music income accurately. The terror originates in my having no business background and trying to understand the rules for making and selling CDs.
Does anyone have a reference to a simple, well-written text covering basic business terms and the current tax codes? If so, thanks. If not, what do the rest of you do (at least that proportion of you who report your music income)?
I brought out a CD in 2009 and so have to set out the losses of manufacturing costs against a few sales, if that's any help.