Accounting for musicians and entertainers |
|
 |
Musicians, Entertainers & Accounting
BT Corporate Advisory Pty Ltd specialises in accounting, tax and planning solutions for musicians, entertainers and artists. Over the years our Director has helped many different clients from the unknown to the most established and popular artists in the musical spectrum - bands, songwriters, instrument retailers and recording studios.
Boris Feldman of BT Corporate Advisory Pty Ltd has a passion for the music industry and live music in particular. Some of his close friends are musicians. His keen interest and care for clients spell strong results and value for them. Converting artists’ creativity into profitable financial results and helping to organise their affairs is the aim of our game. Our extensive knowledge of the music industry has enabled us to develop a portfolio of services that meets the exact needs of our niche clients.
Boris and his team have mentored, advised and added value to a large number of musical artists. Compliance in the music industry can get quite complicated and it is an accountants responsibility to assist music clients to smoothly sail through it. Are you running a business or a hobby? Sometimes the lines are blurred and the ATO have established criteria that we can share with you at a friendly meeting in our Malvern Office. A freshly made cup of quality coffee and treats are also on offer. |
|
Business Structure for Musicians
When establishing your business it's important to seek sound professional advice from qualified accounting and legal sources. Your business success is of most importance to us and we will insure to assist you accordingly. The link below is useful when selecting your structure:
http://www.ato.gov.au/print.asp?doc=/content/00182084.htm
When talking to our music industry clients we discuss and advise them on the following topics:
- Business Structure Choices
- Accounting Software Options
- Tax and Business Registrations
- Buying a Business (if applicable)
- Business Insurances
- Employer Obligations
- Legal Issues
- Registrations & permits
- Record Keeping Requirements
- Claiming Motor Vehicle Expenses
- Vehicle & Equipment Finance Options
- Business Plan preparation
- Cash Flow Budget preparation
Accounting Software for Musicians and Artists
There are numerous options in the market place in relation to accounting software. We don’t want our clients to end up with a software that doesn’t meet their needs. Sometimes using a software that is too advanced can mean extra costs and an unnecessary deal of headaches. The opposite can also mean inadequate accounting records. At BT Corporate Advisory Pty Ltd our experts will advise you about your options and assist in implementation. All that and more is done with a keen interest and a friendly smile.
Claiming for your Music Business?
- Musical Equipment and Instruments*
- Musical Accessories (strings, amps, pedals, effects, straps, carrying cases)
- Music Supplies
- Music Equipment
- Music Books and Other Publications
- Subscriptions to Music and Related Publications
- Travel Costs
- Gigging Costs
- Promotional Material- Demo CD/Tapes, professional photos
- Office Supplies & Stationery
- Postage
- Website and Internet Costs
- Rent
- Membership of Professional Musical Bodies
- Professional Fees (Solicitor, Manager, Agent and Accountant)
- Training Costs
- Accommodation Expenses on tour
- Home Office/Studio Expenses
- Costumes and Props
- Studio Cost
* Depreciation is claimed over period on some of the items above.
Here, at BT Corporate Advisory Pty Ltd we are thrilled and fascinated by music industry. This is due to potential different sources of revenue including recording, merchandising, publishing and touring. We understand what it takes to progress from the small unknown band to the future stars earning big $$$$.
Best of all we are here to guide you all the way!!! Talk to us about your music business today.
|
