Financial literacy for musicians.

Category: Music Business Page 10 of 11

Ep. 8: Entertainment CPA & guitarist gives tax advice

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Jon Thomas, born in 1952 in Los Angeles, California, attended the University of California at Los Angeles where he received his Bachelor of Arts degree in Economics with a minor in Accounting. His interest and exposure to the Entertainment Field started early growing up in Los Angeles and spending time with his uncle who was formerly a child radio star and currently an entertainment event promoter. Jon was involved personally as a musician playing in bands from the time he was 12. Though mainly playing as a hobby, he helped support himself through college by playing guitar and singing in several Top 40 Band.

Contracts: Don’t play a note without one

Until the contract is signed, nothing is real.

Glenn Danzig

As intimidating as a contract sounds, it can be quite relieving and lead to healthier personal and business relationships. A simple way to lighten the mood is to use the word “agreement” instead of “contract.” This implies both parties are equal in negotiations and “agree” to the terms at hand.

5 Ways to kickstart your music career

Music is spiritual. The music business is not.

So you made it through music school and you’re ready to start your career. Ambition and hope is at an all time high and then you remember in 6 months your student loan payments begin. Panic, frustration and fear set in… Wait. Let’s not go down that rabbit hole because it doesn’t do anyone any good and a positive mindset will carry you through the hard times.

This post will cover 5 ways to kickstart your music career. But first, you have to make a very important decision.

How to set your rate as a freelance musician

Freelance does NOT mean free…

So you’re a musician who’s ready to start working and live your lifelong dream. Let’s skip the finding work part for now and cut to the phone call from your friend or stranger: “Hey, my restaurant manager thought it would be snazzy to have a saxophone and accordion serenade our guests for 5 hours next week and I immediately thought of you.” (No mention of compensation.)

Now what?

11 Key factors to use in the music business

Thriving artists don’t make art to make money, they make money to make more art.

Jeff Goins

You might hear the words “music business” and shudder. I can certainly relate, but I prefer to make music my business in order to fund personal creative projects on my terms.

The music industry is moving away from gatekeepers (booking agents, public relations, radio, blogs, record labels, etc.) and more towards the DIY (do-it-yourself) approach. This means no one will swoop you up and take care of the business anymore. If you approach a gatekeeper they will most likely want proof you’re self-sustaining before they consider lending their resources.

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