Growth Group | Accounting for Musicians

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100 Things Music Creators Can Deduct on Taxes

  Oh, music taxes. Something every self-employed musician has to pay, but each one despises. Something some music creators (incl. musicians, producers, songwriters) fear and dread every spring. Well, I’ll be honest… I hate tax refunds, but I know others think of them as free gifts from the government. Regardless of your current relationship status with […]

music iphone tax deduction

Apple iPhone Tax Write Off For Musicians

iPhones (and other cell phones, including Androids) can be legitimate tax write-offs for musicians, and others in the music industry as business expenses. Yep, that means even the newest iPhone 8 you pre-ordered or stood in line all night to get! Business write offs allow musicians to reduce the amount of income that is taxed by […]

stolen music equipment tax deduction

Stolen Music Gear = Tax Relief

Only 7 minutes after you emerged from the backdoor of the club, the glass of your rear window is shattered on the pavement, glistening like a disco ball in the sun. The criminals have stolen your guitar, drums, keyboard, laptop, and gear. Music is your livelihood and your instruments have been stolen. Or maybe your […]

15 ways you destroyed your tax return by filing youself

  Doing your taxes by yourself as an indie artist may seem like a great way to save money by not working with a music accountant. However, here are 15 ways we’ve seen independent musicians ruin their tax return after doing it themselves. These tax time screw ups cost real money, in dollars. #1|| 1099-Misc […]

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 […]