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Since the passage of the Tax Cuts and Jobs Act in 2017, all miscellaneus itemized deductions, including unreimbursed employee expenses, have been eliminated. As a result, performing artists no longer have the option to deduct their performing artist expenses as unreimbursed employee expenses (one of several miscellaneus itemized deductions).
The musician wanted to spend his time playing his own cutting-edge music in smoky clubs, but instead spent every Saturday night playing Pachelbel's "Canon in D" and "Celebrate" at weddings. The ...
A recording contract (commonly called a record contract or record deal) is a legal agreement between a record label and a recording act (artist or group), where the act makes an audio recording (or series of recordings) for the label to sell and promote. Artists under contract are normally only allowed to record for that label exclusively ...
The itinerary includes information about the potential ticket income (fees) for each show. Using this information the tour manager can produce a budget for the tour, calculating costs for crew wages, per diems, accommodation, transport, sound, lighting and video equipment, visas and work permits, rehearsals and other expenses such as booking agent commissions.
A royalty payment is a payment made by one party to another that owns a particular asset, for the right to ongoing use of that asset. Royalties are typically agreed upon as a percentage of gross or net revenues derived from the use of an asset or a fixed price per unit sold of an item of such, but there are also other modes and metrics of compensation.
Furniture, fixtures, and equipment (or FF&E) (sometimes Furniture, furnishings, and equipment [1] [2]) is an accounting term used in valuing, selling, or liquidating a company or a building. FF&E are movable furniture , fixtures , or other equipment that have no permanent connection to the structure of a building or utilities. [ 3 ]
Spotify CEO Daniel Ek triggered backlash from the music industry last week when he said the cost of creating content is “close to zero,” prompting him to clarify his remarks on Sunday.. In a ...
2021 saw a $5 billion boom in music catalog sales, with catalogs being valued for triple or quadruple what they might have sold for 20 years ago. More Legendary Artists Are Selling Their Music ...