Growth Group | Accounting for Musicians

Blog Archives

Before You Audition Your First Employee

Whether you’re hiring a keyboardist for your band, an audio engineer for your recording studio, or an A&R for your record label, the job description is only the first step. Before you hold auditions for the first employee for your music business, here’s what to do: ♩ Get an employer tax ID number, before you hire […]

How top performing recording studios get paid faster

As accountants specializing in music businesses, we work with recording studios and audio engineers. There’s a difference between those making it big and those that are just making it, so we found out what separates those two groups and are sharing the things you need to think about if you’re serious about growing your studio. […]

How much money have you wasted selling CDs?

  CDs were introduced in 1982. It’s now 34 years later and your fans aren’t buying them anymore. Instead, they are listening to music digitally. Don’t lie, you are too! You spent months developing, recording, and marketing your album. Thousands of dollars were spent on disc duplication, and having CDs pressed, for fans who are […]

You’re Crowdfunding…is it a free gift or taxable income?

Crowdfunding is not free money. You will pay in time, talent, and taxes! The IRS wants a piece, whether you choose, Indiegogo, Kickstarter, GoFundMe or Fundrboogie for your campaign. If you use the money to record your next album, buy new music recording equipment, replace stolen gear, or to film a music video, beware of music […]

Why you don’t need more fans

You don’t need more fans or followers. Buying followers is even worse. If you’re looking for new fans to buy your music, or more followers to fill your feed. Stop. True fans are long-term customers who are ambassadors of your brand. Let’s call these brand ambassadors, superfans. They bring their friends along to your shows, […]