Effective for sales or exchanges in taxable years beginning after 5/17/06 and before 1/1/11, taxpayers may elect for the sale or exchange of musical compositions or copyrights in musical works created by the taxpayer's personal efforts to be treated as the sale or exchange of a capital asset.And what's the big deal, you say. Great question (although ALL questions are now GREAT). Well, curiously, such favorable tax treatment (the capital gains rate is significantly lower than ordinary income rates) is not given to literary or artistic compositions! Hmmm, that seems strange; why would that be? Interestingly, the senator sponsoring the tax provision was none other than Bill Frist of Tennessee, the capital of which just HAPPENS to be the songwriting Mecca, Nashville. Coincidence? Oh, you cynical bastards.
Caught Lindsey Buckingham on CMT Crossroads playing with Little Big Town, who apparently (forgive my country music ignorance) have an album, Road to Here, that went gold. In 2006, Buckingham released his first solo album, Under the Skin, in 14 years to a 4.5 stars review by AMG. They played a mix of Buckingham's new material, LBT material and (who'd have imagined!) some old Fleetwood Mac songs including a rousing version of Go Your Own Way. Enjoyable listen.Planning to catch the D Smith Blues Band at Legends Sports Bar in Bristol tonight with Reet, Sharie and Keithie. The band is scheduled to play on February 20th at Southington Rotary's Mardi Gras Night at Anthony Jack's in Southington.
Still searching for the reason why Sweet Home Alabama is the theme music for Kentucky Fried Chicken advertisements. Inquiring minds.
Apple Computer reported today that it has developed computer chips that can store and play music inside women's breasts. This is considered to be a major breakthrough because women are always complaining about men staring at their breasts and not listening to them.
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