Growth Group | Accounting for Musicians

Blog Archives

Here’s how I negotiated a musician out of paying IRS penalty fees

Here’s how I negotiated a musician out of $1,560 of penalties from the IRS for not filing their tax return on time. This was the first year this band had set themselves up as a business,. There “old” CPA set up a corporation for them and then ditched town so they simply didn’t file and […]

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 […]

3 Tax Deductions You Won’t Get This Year

“I’m writing everything off.” Well, no. You aren’t. Here are some tax myths and frequently requested deductions that just aren’t happening, at least not this year. Every year between January and April when we are preparing tax returns there are interesting deductions that our music creators tell us they are entitled to receive. Here are a few […]