Accountants for Musicians | Creative and Numbers

Accountants for Musicians & DJ's: Creative Minds, Financial Accuracy

You pour your heart and soul into your music, captivating audiences, but the business side can feel overwhelming. Taxes and record-keeping can quickly turn into a distraction.

That's where Creative and Numbers, who are specialist accountants for musicians come in. We understand the unique financial landscape of musicians and DJ's – from gig income and equipment costs to royalties and tour expenses.

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Focus on your priorities, not your distractions

Our specialised accounting services are designed to empower your musical journey, freeing you to create with confidence. Here's how we can help:

Financial Clarity
Clear Record Keeping
Simplified Tax
Peace of Mind

Custom Accounting for Musicians

Whether you're a solo artist just starting out or a seasoned band hitting the road, we have the expertise to meet your needs. Here are some of the services we offer as specialist accountants for musicians:

Bookkeeping & Record Keeping
Tax Preparation & Planning
Accounting & Budgeting
VAT
Business Entity Formation

Your Music, Our Expertise

We believe that musicians deserve financial freedom to pursue their passions. We're more than just number-crunchers – we're here to empower you to:

Eliminate the worry of tax deadlines and record-keeping anxieties.
Focus on your music: get back to what you do best.
Make informed financial decisions that support your long-term musical goals.

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The Basics of Bookkeeping and Accounting for Musicians

Track Your Income

Keep meticulous records of all income streams, including performance fees, merchandise sales, streaming royalties, grants, and sponsorships.

Document Your Expenses

Record music gear, recording studio costs, travel expenses, marketing fees, and other business-related outlays.

Organise Your Reciepts

Use a system (digital or paper) to categorise and store receipts, invoices, and bank statements for easy retrieval.

Choose the Right Tools

Explore accounting software designed for musicians or freelancers to simplify record-keeping.

Understanding Key Financial Terms

Familiarise yourself with basic accounting concepts like profit and loss, cash flow, and tax implications for musicians.

Set Up a Bookkeeping Routine

Dedicate regular time for financial tasks to avoid last-minute stress and ensure accurate records.

The Power of Smart Financial Management for Musicians

Data-Driven Decisions

Gain insights to determine optimal pricing, and other items.

Budget Effectively

Create realistic budgets for touring, recording, and music production.

Minimise Tax Liabilities

Claim all eligible deductions and take advantage of tax benefits specific to musicians.

Plan for the Future

Invest your earnings strategically to secure your financial future as a musician.

Gain Investor Confidence

Demonstrate financial responsibility when seeking funding for projects or tours.

Diversify Your Income

Explore multiple income streams beyond just gigging, such as merchandise sales, online music lessons, or songwriting royalties.

Common Tax Deductions for Musicians: Hit the Right Notes with Your Taxes

Music Gear & Instruments

The cost of purchasing, repairing, and maintaining your instruments and equipment is deductible. This includes everything from guitars and drums to microphones.

Recording Studio Costs

Studio rental fees, recording software subscriptions, musician payments for recording sessions, and even instrument rentals can all be deducted as business expenses.

Tour Expenses

Transportation, stay, meals, and other costs directly related to touring are tax-deductible. Don't forget to keep receipts for travel, hotels, per diems, and any local transportation used during tours.

Music Promotion

Expenses for website maintenance, marketing materials, social media advertising, and publicity campaigns designed to promote your music career are deductible business expenses.

Performance Attire & Costumes

Professional clothing specifically used for gigs and performances qualifies as a deduction. This includes stage clothes, costumes, shoes, and any accessories essential for your stage presence.

Music Education & Development

Expenses for music lessons, workshops, conferences, and professional development opportunities can be deducted, as they help you improve your skills and advance your music career.

How Creative and Numbers specialises in maximising tax benefits for Musicians?

Deep Understanding of Musician Taxes

As an expert tax accountant for musicians, our team stays up-to-date on tax laws for musicians, ensuring you claim all deductions and credits available.

Tour & Royalty Income Expertise

We have extensive experience handling the unique tax associated with touring income, royalty payments, and various revenue streams musicians encounter.

Strategic Tax Planning

We don't just react to tax season; we proactively plan throughout the year to minimise your tax liability.

Representation Before Tax Authorities

In the rare case of an audit, you'll have peace of mind knowing we can support you before authorities.

Streamlined Expense Tracking

We'll provide systems and tools to simplify expense tracking throughout the year, saving you time and ensuring you don't miss out on deductions come tax time.

Music Industry Knowledge

As an expert tax accountant for musicians, we combine accounting expertise with a understanding of the music industry. This allows us to tailor tax strategies to your specific financial goals.

What Our Clients Say

Ellie Botwood, Bot Inc PR, Branding and Sales Consultancy in Advertising, Film and Art

I’ve had my own business for the past 6 years and I’ve always struggled to keep on top of my accounts and invoices. Creative and Numbers have been imperative in helping me get back on track and taking away a lot of the headache so I can concentrate on what I’m good at. During the Covid-19 crisis, they provided knowledge, insight and advice in what was a really scary and precarious time. Sometimes there’s nothing quite reassuring than hearing it will be OK and we will get it sorted. I’m very grateful I found them when I did!

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