Knowing the difference between recoupable and non-recoupable expenses can save you from major confusion (and debt) later. Think of it like the difference between an investment and a favor. I started my undergraduate years as a neurobiology, physiology and behavior major at UC Davis, completely immersed in bookkeeping science.

• Because at the end of the day, nobody’s gonna care about your money more than you do.
• Unleash your company’s potential with unlimited resources, enhanced support, and exclusive Merlin Integration.
• The sacrifice they make is that cloud-based solutions are typically less customizable, often geared towards specific needs.
• Mr. Catalano manages the Music CPA’s professional service group.
• Knowing the difference between recoupable and non-recoupable expenses can save you from major confusion (and debt) later.
• “Taxman” by The Beatles is one of the most famous songs about taxes and how they impact earnings.

Elias Tarabay, CPA

If you’re looking for music industry accounting an accountant you can truly trust to have your back, contact us today. Handling company and personal tax returns, and VAT with ease. Each edition of The Monthly Report features an entertaining marketing/business story + curated insight and business resources for the discerning musician. Take “learn accounting” off your to-do list with this ready-to-use bookkeeping template suite + walk-through video.

• The song is about how being kind can be seen as a weakness, but it’s important to be kind anyway.
• I managed hundreds of artists, handled logistics and coordinated performances.
• Contact us to learn how we can support your music operations from rights to reporting.
• You don’t need to be an expert to make good decisions for your music career.
• One of the most well-known songs about money is “Money” by Pink Floyd, with its unforgettable cash register sound effects and commentary on wealth.
• They don’t just teach the material; they care about who you are as a person and where you want to go.

Campuses and Schools

• Its user-friendly interface, coupled with a comprehensive set of features, makes it a reliable choice for those who prefer to handle their finances personally or work with a bookkeeper.
• The song features lead vocals by Lennon, with Paul McCartney, George Harrison and Ringo Starr singing backing vocals.
• But, if you send a lot of invoices, FreshBooks is known for limited invoicing on lower-tier plans.
• In this post, you’ll learn about six bookkeeping tools and accounting software options for self-employed musicians—some are free forever, some are free to start, and the rest are less than $20/mo.

Knowing that our royalty accounting is covered by the specialists at MRC is invaluable – they allow us the headspace to concentrate on confidently running and growing the label. A royalty system purpose-built for today’s music industry. The song is about the rapper’s experiences in the street life and how he uses his music to get through the tough times.

Tax & accounting support for music industry professionals

A Profit and Loss Statement (also called an “income statement”) is a snapshot of how your business is doing over a specific period, like a quarter, a year, or even a tour Sales Forecasting cycle. It lists your income (money in) and your expenses (money out), and tells you if you’re actually turning a profit. Choosing the UC Davis MPAc program has been one of the most intentional decisions of my career so far. It helps me blend creativity with technical skill and shown me new ways to support artists, manage projects and grow sustainably as a business owner. Working in the music industry revealed how much power comes from understanding the business side of your craft.

Revolutionize your business with Audio AI

This project-based approach enables users to segment financial transactions into different groups. With this, it’s easier to see whether a specific initiative is profitable. This helps music business owners save time when needing to review detailed data. Now more than ever, labels, distributors and artists need manageable, precise and regular music royalty accounting.