Making the move into working with music creators meant scheduling around day jobs (for those who weren’t full-time yet) and tour dates. I work during the typical work week and put in the necessary hours to produce value for the people who have entrusted me with their finances. Music Business Accountants advise and work with musicians and music industry companies on financial matters. Growth Group also provides music business financial coaching and resources for emerging artists through online consultation and workshops. If you’re looking for a strategic entertainment accounting firm to help with your financial and consulting needs, we can help. Contact Peter Stathopoulos or Jane Klingmeyer to schedule a consultation.

Business Management

The Music CPA offers full service accounting, tax preparation, tax compliance and consulting services to recording artists, musicians and bands, recording labels and other music industry businesses. We are accountants, who are also musicians, helping entertainers with entertainment industry tax and accounting issues nationwide. From analyzing production incentives to coordinating with state film offices, our national Entertainment practice provides a unique set of strategic services geared toward maximizing opportunities while minimizing risks. Our specialties include film and television production, recording artists, songwriters and eSports. We also have particular expertise in advising UK clients who are moving across the Atlantic, as well as US-based clients relocating to the UK. Working in the music industry brings unique financial challenges and opportunities.

Tour Accounting

Our professionals work with production companies and lenders to track entertainment incentives, including analyzing weekly and monthly production expense reports to ensure projected incentives are tracking as expected and identify shortfalls as early as possible. We also assist with certification applications and post-wrap reporting, including preparing tax returns and supporting documentation to claim tax credits. Recent disruptions in entertainment content distribution have many networks and studios seeking ways to cut production accounting and finance costs. Outsourcing part of these responsibilities to an outside team can help reduce costs without sacrificing quality. Our experienced team of entertainment industry accountants can help with any outsourced accounting and finance needs.

Film Office Consulting

Musicians may be artists at heart, but they still have to address business and financial issues. Good, effective tax planning starts at the beginning of the tax year. If you have never sat down with a tax professional to discuss your financial details, you may not know what opportunities you have been missing. On-the-job training and experience are necessary to https://www.bookstime.com/articles/real-estate-taxes land a position as a Music Business Accountant.

International Tax

Alexis Kimbrough is an accountant and handles bookkeeping and taxes, and when you get financial statements each month, you can be sure they were reviewed by her first. When she’s not talking with clients, blogging, stalking you on social media, or spreading the word about Growth Group, she’s probably repairing an iPhone, watching Shark Tank, walking her lab “DC”, or attending a concert. We serve an extensive range of media clients, including radio and television stations, cable interconnects, out-of-home advertising companies, and media industry associations – providing nationally recognized analyses of market share, company revenue growth, and market revenue growth. Working with film tax credit lenders in private equity and banking, we analyze film and television budgets to forecast and compare resulting entertainment production incentives in multiple music industry accounting jurisdictions. In addition to statutory, regulatory and administrative guidance, we consider factors such as currency exchange rates to arrive at our final comparative projection of benefits. We speak on a variety of music industry topics including inventory management, retail store management, succession planning, and more.

Services

• Although accounting firms have set business hours, that doesn’t mean a Music Business Accountant’s day ends at 5 pm.
• Being a Music Business Accountant requires a certain kind of personality.
• Advancement in this role comes through working with well-known artists or getting hired by a prestigious firm, which means higher wages and more famous clients.
• Instruments, home rehearsal space, in-house recording studios or equipment, cell phones, web sites, computers, magazine subscriptions, association dues, uniforms, costumes, dry cleaning, hair styles, make-up, shoes, classes … the list can be endless.
• Music industry experience is great, but solid work history in the accounting field is more important.
• This experience supplies them with professional connections—a source of potential clients—and powerful insight into the financial concerns of their artist clients.

This experience supplies them with professional connections—a source of potential clients—and powerful insight into the financial concerns of their artist clients. Many of them generate income from multiple sources, including radio, film, TV, theatre, and digital, and there are always new revenue streams emerging. The crossover that exists here between music and the other creative industries in which we specialise, puts us in a unique position to help artists and businesses explore and capitalise on these opportunities as the industry evolves. Earnings in the music industry can fluctuate over time and we are always thinking ahead to protect our clients’ financial interests. Accountants generally work during standard business hours, although odd hours and travel may be involved if a client lives and works in a different time zone, or if meetings must be planned around a difficult performance schedule.

Berklee Career Manager

Financial management in the music and entertainment industry can be daunting, but it doesn’t have to be. Imagine having complete clarity net sales about your finances, knowing exactly where every dollar is coming from and where it’s going. Picture effortlessly capturing all your business expenses, without anything slipping through the cracks.

• From analyzing production incentives to coordinating with state film offices, our national Entertainment practice provides a unique set of strategic services geared toward maximizing opportunities while minimizing risks.
• We work with the entertainers directly or with their agents, attorneys and personal managers.
• We also assist with certification applications and post-wrap reporting, including preparing tax returns and supporting documentation to claim tax credits.
• Growth Group also provides music business financial coaching and resources for emerging artists through online consultation and workshops.
• Exceptional organizational skills, attention to detail, and the ability to manage time are vital.

Don’t let money worries hold you back from pursuing your creative passions. Invest in your success today by partnering with us for all your Music Accounting needs. Reach out to schedule a free consultation, and let’s start making your financial journey smoother and more successful than ever before. Growth Group believes in social responsibility and stays involved in the local communities by volunteering to help low-income individuals and families receive every tax benefit, deduction, credit, and write-off available to them. The world of eSports is growing exponentially, with millions of viewers across the globe tuning in on a daily basis to watch their favorite tournaments, teams and athletes compete. With cross-border competitions and investors or sponsors continuing to increase worldwide, there are many tax complexities and concerns to consider.