When The Beatles sang “Taxman” in 1966, George Harrison wasn’t exaggerating. “Let me tell you how it will be… there’s one for you, nineteen for me.” At the time, the top UK marginal tax rate on high earners approached 95%. The Beatles weren’t just battling screaming fans- they were battling tax policy that forced them to rethink their business structure. That’s where today’s lesson begins: because the business of The Beatles is really a masterclass in ownership, entity structure, intellectual property, and taxes. With U.S. business tax deadlines looming March 15th, this story couldn’t be more timely. The Catalog Backstory Here’s where the Beatles’ nearly priceless catalog becomes a cautionary tale. Like most artists of their era, The Beatles didn’t originally control their publishing. Those rights were held by ATV Music in a classic “you get famous, we get paid” structure. Fast forward to 1985. After advising his friend Paul McCartney about the importance of owning publishing rights, Michael Jackson outbid McCartney and purchased ATV for $47.5 million acquiring the entire Beatles catalog. Let that sink in. One of the greatest songwriters in history didn’t own the publishing to many of his biggest hits… and then lost control of them to someone he personally advised. Ouch. Jackson later merged ATV with Sony (for loans to fund his lifestyle tax-free), forming what became Sony/ATV (now Sony Music Publishing). The master recordings eventually ended up under Universal Music Group, while branding and licensing continued to flow through Apple Corps Ltd. Three revenue streams for one band. Publishing (royalties) Masters (recordings) Branding/IP (licensing) That’s a complete corporate structure that laid the foundation for every other band since. The Financial Lesson: Control the Structure or Lose the Upside You may not own “Sgt. Pepper’s Lonely Hearts Band”, but you absolutely control: Your brand Your recurring revenue Your intellectual property Your tax exposure Just like business of The Beatles, every small business has their own version of it: Publishing = recurring revenue Masters = products/services Brand = goodwill & reputation If you don’t structure these correctly, someone else owns your upside. Actionable Business Tax Takeaways This week I want you to stream their classic “Revolver” and consider these tips before dealing with the “Taxman” this year and going forward. 1. Reminder: Business Returns Due March 15 If you operate as a: S-Corp, or Partnership Your business return is due March 15. Yes, you can file an extension, but that extends the paperwork, not the liability. Interest and penalties still apply on unpaid tax. Action: Confirm your entity type this week. If you haven’t met with your CPA yet, schedule it now. 2. Use: O3BA + Tax Code to Max Your Benefits Think like the label, not the lead singer. 100% Bonus Depreciation If your business purchased: Equipment Vehicles Office buildout Technology Machinery You may qualify for accelerated (even 100%) depreciation. Tax Math Example: If you purchased $80,000 of qualifying equipment: Deduct $80,000 this year instead of spreading it over 5–7 years. In a 32% bracket ? that’s $25,600 in potential federal tax savings. Cash flow matters. Max Out a SEP-IRA or Solo 401(k) If self-employed, you can contribute: Up to 25% of compensation Max $72,000 (2026 limit) Tax Math Example: If your net business income is $200,000: You could contribute up to $50,000. At 32% bracket ? potential $16,000 tax reduction. The Beatles have royalty income and you get to build retirement royalties. Consider Electing S-Corp Status If you’re earning $100K+ consistently as a sole proprietor or LLC then an S-Corp election may reduce self-employment tax exposure. Tax Math Example: If $60,000 of profit is reclassified as distribution instead of salary: You may avoid 15.3% SE tax on that portion. Potential savings ˜ $9,000+ annually. That’s real money. 3. Track Your Hits Like Apple Corps Ltd. Apple Corps was built to manage the Beatles’ revenue machine. You need your own infrastructure, so consider using software like: QuickBooks (accounting, expense tracking, cash flow) ADP Run (payroll, compliance, benefits) You cannot scale a business from a shoebox of receipts. 4. Start the Business the Right Way Are you read for your “Abbey Road” crossing moment? Before you take your hobby or skill to a full-on business, do these first: File an LLC with your state (small fee), then Apply for an EIN with the IRS (free), and Open a dedicated business bank account (also free). Separate business and personal finances - always. Structure it right early to avoid any regrets later. And In the End… The Business of The Beatles taught us how to create value. Creativity builds it. Ownership captures it. Structure protects it. Taxes? They test it. Because in the end, it’s not about what you earn- it’s about what you keep. At Boyer Financial Group, we help our small business clients plan ahead now so they keep more of what they earned later. Need help? At BFG, we’re Making Money Make Sense™ one Sound Return at a time.