I am producing my own music album that will be released before the end of 2022 (started it in March). Have purchased a new computer, software and hardware for it (though I will use those items for future albums as well) and have hired several other musicians to perform on the album, and engineers to mix and master it. Would it help me with deductions if I start my own company (Production company for example) or just file as an individual with a side gig (I have a full time job as well)? I expect to make some money for the album, but not to recover the costs I've put into it (not even just recovering the costs of the musicians/engineers). Any advice is welcome, I'm new to this!
