Financial literacy for musicians.

Category: Taxes

Ep. 34: Australian composer achieves lofty goals & raises big money

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Toshi Clinch is a renowned Australian arranger, performer and educator currently located in Melbourne, Australia. His works have been performed globally in Europe, America, Asia and Australia by artists such as the Glenn Miller Orchestra, Tommy Dorsey Big Band, Dick Oatts, Danilo Perez, James Morrison, various X Factor and Australian Idol finalists, West End vocalists, and many other ensembles. In 2016 Clinch graduated with a degree in Jazz Arranging from the prestigious University of North Texas where he studied under Grammy Nominated composer Richard DeRosa and Grammy Award Winning bassist Lynn Seaton. Following his studies he recorded his debut big band album Vesuvius that featured an all American version of the Toshi Clinch Big Band. As a bassist Clinch has performed alongside Vincent Gardner, Dick Oatts, Ed Soph, and Pat Coil, and is currently an arranger for Royal Caribbean Cruise Lines.

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.

Ep. 3: Three common tax deductions for musicians

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Think of tax deductions like music scales. Once you are familiar with major scales you can move onto minor, diminished, augmented, whole tone, harmonic, Egyptian, you name it. Let’s build a foundation with 3 of the most common tax deductions for musicians.

Navigating the confusing world of tax as a musician

The hardest thing in the world to understand is the income tax.

Albert einstein

Taxes are a collection of revenue from citizens to fund the government. Many people view taxes as government penalties. I prefer to view them as government incentives. As far as I can tell the government adjusts the tax code to fit their needs economically. For example, if the government wants corporations to thrive then you might see local, statewide, or nationwide corporate incentives in the form of credits, abatements, exemptions, or refunds. If the government wants people to buy more homes then you might see a mortgage interest deduction.

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