Growth Group | Accounting for Musicians

Blog Archives

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 […]

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. […]

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 […]

recording studio engineers employees or contactors

Are Recording Studio Engineers Employees or Contractors? (Part 3)

This is part 3 (the finale) of a series on how to classify recording studio engineers as workers, here’s part 1 and part 2 in case you missed them. Each part of the series answers one question and provides guidance to help you decide whether your engineers are employees. If your recording studio is paying audio engineers, specializing in […]