There are producers
and artists that I occasionally hear from (or hear about), and many of these great creative people have been hit pretty hard
with some of the business and tax realities, and financial challenges that come with success in the music industry.
So, If you are making money in the music business, whether it be from grinding up and down the road, to finally getting those
great “all-in” advances for your productions, you will need an accountant on your team or crew to help save you
the grief that comes with poor financial planning.
A great business
manager will know how to help you set up your budgets and advances when they come in so that you or your company actually
makes the best of the money through different types of accounts, like money market accounts, etc. Roger Neal Smith, a Los Angeles financial expert once told me, “Artists and producers, who regularly
get budgets, need to learn to make their money work better for them.”
Music Powers has contacts for many
of the best and most reputable CPA - Accounting firms and business managers in Atlanta, GA., Los Angeles, CA, and New York,
NY. that can handle your music & entertainment tax preparation, planning, audits, finance management, loans, etc. And the Music Powers
24K website has more. Every record producer, recording artist, songwriter and indie label needs to have
great accounting & business management, and the Music Powers book has a select list of many of the best. And the 24k site
includes regions like Chicago, San Francisco, Miami, Nashville, Ohio, Detroit, Washington and more.
Tax Tips – Checks & Balances – Setting Money Goals
Accounting & Business
Management Directory for
Atlanta – Los Angeles
– New York