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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 […]

Insurance for music businesses

7 types of insurance for music businesses

  Insurance is meant to protect you and your music business from financial ruin should something happen. Getting insurance coverage doesn’t mean you’re paranoid or wishing things upon yourself, it’s being smart. There are 7 types of insurance every music creator should have, if possible. I’ll let you know why you should have each type, […]

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 […]

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 […]