The Help Independent Tracks Succeed (HITS) Act is finally law in the United States and one of the highlights of this bill is that it will allow artists to deduct up to $150,000 in recording expenses immediately instead of over multiple years.
Big shouts to everyone involved with this bill, including the Recording Academy who helped craft this great piece of legislation. Creatives in TV and Film have the ability to make deductions like this already so this brings musicians up to that level. I’m thankful this is now law and it will help more artists with recording costs. A huge victory for music.
