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Handling Your Music Finances From a Business Manager and Accountant

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By Ari Herstand

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Handling Your Music Finances From a Business Manager and Accountant

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Did you know that there is a law on the books in California that states a company cannot bind someone to a personal services agreement for longer than 7 calendar years - unless they are a RECORDING ARTIST?! That’s right, in 1987 the slimy, slippery, soulless major record labels successfully lobbied the California legislature to add an amendment to exempt recording artists from this law meant to protect people from long-term, predatory contracts. But finally, California might have a chance to right these historic wrongs with the new Bill AB-2926 (Kalra) that has been introduced.
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Ari Herstand
Ari Herstand is a Los Angeles based musician, the founder and CEO of Ari’s Take and the author of How to Make It in the New Music Business.
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Handling Your Music Finances From a Business Manager and Accountant

Listen on your favorite podcast platform: Spotify | Apple Podcasts | Stitcher | Acast

This week on the New Music Business, I spoke with Pink Noise’s business manager Khloe Churko, alongside tax preparer and fellow podcaster Stephanie Belcher. We dive deep into the weeds of music industry finances including bookkeeping, 1099s, LLCs versus S Corps, DBAs, how PROs pay artists, and so much more!

4:00 Welcome
7:30 What does a business manager do?
9:00 Sirius XM and Sound Exchange
13:30 Bookkeeping process
17:45 Taxes
22:00 What is a tax return?
32:30 LLC Vs. S Corp
45:45 Payroll
49:00 AB5 Law
53:30 LLC Vs. S Corp (Continued)
1:02:30 Doing business as (DBA)
1:04:00 Working with your Performing Rights Organization (PRO)
1:06:30 What’s wrong with Legal Zoom
1:08:00 Alternative to Legal Zoom
1:11:20 Statewide tax rates
1:14:45 Thank yous and final question

Edited and mixed by Maxton Hunter
Music by Brassroots District
Produced by the team at Ari’s Take

About The Author

Ari Herstand
Ari Herstand is a Los Angeles based musician, the founder and CEO of Ari’s Take and the author of How to Make It in the New Music Business.

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State of the Industry | ATA Instructor Round Table

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