You might think that the idea of “money management for musicians” is one of those oxymoronic statements – like “jumbo shrimp” or “military intelligence.”
We’ve all heard the stories about well-known recording artists in debt to their record companies even after several hits. Or megastars like M.C. Hammer, who make millions, yet end up filing bankruptcy. Or legends like Willie Nelson, who find themselves in hock to the IRS for back taxes. These sad scenarios could have been avoided with the application of sound financial management principles — even in a business as “un-businesslike” as the music industry!
If you are a musician or artist – pay attention! You are about to receive information that will protect you forever – for FREE!
And if you know a creative type – forward this blog to them immediately! And fasten your seatbelt, this is going to get rough.
OK: One of the most important thing a musician or artist can do is to activate BOTH sides of their brain – the creative flowing side AND the precise, organized, and efficient side.
And if YOU are an artist, poet, or musician, you fall into that category of people who somehow expect other people to recognize and support your talent for bringing unique beauty to the world. This expectation, most often subconsciously held, has led to more musicians and artists being exploited and ripped off by managers and advisors for more money than Bernie Maddoff’s ponzi scheme.
If you are a more experienced musician, then you’ve heard the horror stories — everyone from the Grateful Dead to Willie Nelson has been seriously ripped off by their financial people. If you are a younger musician, and new to the field, let this be a warning: your desire to have someone else “take care of business” will cancel out any bit of magic you bring to the world.
But since everyone out there has an agenda, and their own “product” to pitch, how do you even get informed?
You need to hear from a wise elder of the musician tribe – someone who has “been there and done that” — someone who has had hits, and has toured, and has learned what YOU need to know.
That person is Parabar Weber, keyboardist with the Tasmanian Devils – a popular Bay Area group that has had hits, has toured, and has been through the star making machinery of the music industry.
Parabar will be offering a FREE money management workshop, hosted by Zone Music in Cotati, this coming Saturday March 13th, at 2:00 PM.
You will learn how you can effectively organize your self to take maximum advantage of the tax system, along with how to make and keep more money, how to organize and improve what you do, and how much money you make and keep!
I wish this information had been available when my band, the Legendary Bronze Hog, got totally taken by a financial con man who promised us a future, and who totally ripped us off!
All we wanted was to be stars, and he treated us like stars! We wanted to have the financial details taken care of — and man oh man, did he ever take care of our financial details… it took many years to recover from the damage he did — and it really hurt us as creative artists as well — it was really sad.
I don’t want that to happen to you! Email me at firstname.lastname@example.org and I’ll make sure you have a space reserved — whatever you do, come to Zone, Saturday afternoon, and activate the part of your brain that will help your artistry thrive!
Zone is presenting this as a public service to musicians and artists, so please come and never be ripped off again.
Here’s a summary of the FREE workshop:
MONEY MANAGEMENT FOR MUSICIANS
(and Other Creative Folks)
Free Seminar Sat. March 13, 2 to 5 pm
Zone Music 7884 Old Redwood Highway Cotati, CA
How to organize your finances, avoid ripoffs, keep the Taxman off your back, save money on taxes, and make better-informed decisions about your career
This 3 hour seminar will give you a solid foundation on basic business principles, regulations and taxes as they apply to musicians, artists, writers, craftspeople, and others who make some or all of their living from creative work. Whether you’re embarking on a career in the arts, have a growing business that’s outgrown the “shoebox for receipts” stage, skipped all the business classes in school and would now like to catch up on what you NEED to know, or if you simply want to be better organized, this lively seminar will give you useful and effective tools to help you accomplish your goals. Included will be:
- Business Entities: Sole proprietorships, DBA’s, partnerships, corporations, LLC’s – which is best for you?
- Tax and reporting requirements (and benefits) for bandleaders, bandmembers, songwriters, agents, roadies, sound crew and others
- Royalties, licensing and merchandise: your rights and obligations
- Accounting Demystified: Debits, Credits, Revenue, Deductions, Depreciation and Amortization, Assets, Liabilities and Net Worth – what they are and what they mean to you
- Simple and effective recordkeeping methods that will satisfy the law and give you useful information about your business
- Manual and computer-based systems and software
- Making and keeping budgets
- Financial Statements: How they can help your creativity
- Perfectly legal tax deductions you may not be aware of
Parabar Martin Weber is keyboardist and vocalist with long-time Bay Area favorites the Tazmanian Devils. He is a published songwriter and has toured Europe, Canada and the U.S. as a working musician, as well as helping run record labels and production companies. Parabar has also been a financial professional for over thirty years, serving for nearly 20 years as controller for a large multi-state architectural firm based in the North Bay. He has worked closely with CPA’s, overseen IRS audits and designed accounting systems for musicians, attorneys, architects, healthcare professionals, retailers, and many other small businesses, and currently has his own practice as an accounting systems consultant.
More Information: Zone Music email@example.com (707) 664-1213
Parabar Weber firstname.lastname@example.org (707) 795-1737