This year, let me help you play Santa for the studio owner in your life. Check out this quick article from About.com’s Home Recording guru:

Holiday Season 2009 Buying Guide: Top 5 Stocking Stuffers for Musicians & Recording Engineers

Here’s my recap of the list:

Anything you can do to save a musician/engineer’s hearing is a great gift idea. Face it, we spend our whole lives listening to music at ear-piercing volumes. By the time we hit 30, our hearing is already noticeably degraded. Show your love and give the gift of hearing protection. Earplugs and SPL meters are great gift ideas.

A handy microphone is also a great gift. Don’t worry if you don’t know much about mics. Most recording enthusiasts are excited to play around with any new mic they get there hands on. It’s a chance to create new sounds and add a new tool to the studio repertoire. If you’re really stumped, you can’t go wrong with a Shure SM57 microphone. Check out SM57 microphone reviews for more info. These can be used in just about any studio situation, and you can never have too many of them.

I especially like the idea of gifting a microphone sanitizer. This isn’t something that most studio owners think about, but how many germs are growing on those vocal microphones? Lots and lots. With H1N1 lurking around this season, don’t take any risks.

Hope that helps with your holiday shopping!

PS – Sometimes the best gift you can give to a studio owner is… a minute of your time. Listen to their latest mix and compliment them on their work. That’s the greatest joy a recording hobbyist can ever receive.

Want to give a gift they’ll really love? How about teaching your studio owner how to make money with a recording studio.

Register your business

After you set up a recording studio business, you need to visit your local government office in order to register your business. You should also first go through the official website of the internal revenue department (such as the IRS in the USA) in order to learn the amount of taxes you will be have to pay. Remember, the amount of tax will depend on the scale of your business. Registering your business in time will ensure that you will be taxed correctly. The good news is that for the first few months or years when your investments will outweigh your profit, you will get tax credits.

License requirements

You also have to learn if any sort of permit or license is required to run a recording studio business in your locality. If yes, then it will require a further investment. The local government office for small businesses will be able to guide you through this process. This is another important step to legalize your business. A business without proper licensing may not be eligible for tax credits or any other such facilities in the future.

Maintain financial records

One very important step of tax planning is maintaining your financial records in detail. This will include an account of your expenses as well as receipts or payment documents to support the record. Therefore, don’t throw away a single receipt or be careless about writing down a financial transaction, which took place while setting up or running your business. A well-kept financial record goes a long way to ensure you will be taxed correctly and will get the tax benefits for which you are eligible.

File tax returns

You will also need to file your tax returns in time. If possible, you can employ an accountant in order to take care of all these things. However, when your business is quite small, you can do all the tax preparations yourself after researching about it extensively on the Internet.

Paying your taxes is a pain, but it must be done correctly and on time. You really don’t want to risk losing your dream business to the tax man. And tax problems can set you back money-wise for years. Do the proper research and you will be just fine. Ignore your taxes, and Uncle Sam will come knocking.

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