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Tag Archives: Entertainment Industry Accounting Firm
Staying Abreast of Stripper Tips Tax Deductibility
What!? I couldn’t believe the recorded message. A Fortune magazine writer left me a message requesting my opinion on the tax treatment of some rappers deducting tens of thousands of dollars on strippers. After a few comedic quips, I actually answered … Continue reading
A Revelation: Bad Strategy of the Four Horsemen(Part 1 of 4)
Knute Rockne compiled four sophomore football players in the Notre Dame backfield who became football lore. The Four Horsemen of Notre Dame destroyed almost any defense they faced from 1922 to 1924, only losing twice to Nebraska. This was the image that came … Continue reading
Innovation:There is More to Emulating Than Playing Air-Guitar
When I started playing guitar in the early 1960s, nobody played “air guitar.” Those who didn’t want to play, didn’t, and those who wanted to play guitar copied Jimmy Hendricks, Chuck Berry, and many others in the entertainment industry. Anita Campbell’s article Finding Innovation … Continue reading
Surviving an Economic Downturn, or Sticking to an Idea from God
I’m sure most of your heard the story of Art Fry who invented the “Post-it Note” in 1980. He took an unsuccessful adhesive designed by 3M’s Dr Spencer Silver in 1968 and used it to post little notes in his … Continue reading
Music Royalties: Never Leave Money on the Table
I remember about six years ago when a relatively unknown organization, Soundexchange, contacted us (CPA entertainment business managers) about signing up one of our music artist clients. They said that our client was not collecting all music royalties through ASCAP, UMG, EMI, etc. Instead, there were an increasing amount … Continue reading
Business and the Artist: The Butterflies of our Society
You’ve probably heard of the story about an old man and the cocoon. He watched the cocoon for days, and then it started to move. The butterfly struggled, so the old man slit the cocoon to let the butterfly out. The butterfly emerged … Continue reading
Business Creativity and Illusion
As an Entertainment CPA, I find my clients are not short of creativity. Every year, clients retain us to create a business (and sometimes a strategic) plan for an entertainment industry venture. Usually they google Entertainment CPA, or Business Manager CPA, or Strategic … Continue reading
Small Business and the Social Media Complaint Game
Last week, I joined a conference call with an individual that can help my client’s entertainment business. What we found out after the call was that this individual and his company had two scathing unanswered criticisms reported online. Immediately, red … Continue reading
Artists’ Futures are Truly in Their Hands
I was twenty-one in 1978 when I got my first part-time CPA accounting job while studying at UCLA. The adding machine I used had a crank…really. Over the last year or so, I have written about apps that help business people … Continue reading
Posted in Business Finances, Personal Finances
Tagged accounting, Business Accountant, business manager, Business Plans, Business Tools, entertainment, entertainment business management, Entertainment Industry Accounting Firm, Music, Music CPA, Small Business, Social Networking, Strategic Planning
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With FaceBook Music, You Don’t Need No Stinkin’ Payola
My father sang rockabilly in the 1950s under contract with Capitol Records. (Click here for a Bobby Norris sample.) When I was young, he told me stories of “payola.” Payola is the (illegal) practice of record companies (and I guess artists) paying discjockies to play their … Continue reading