General educational information, not legal, tax or accounting advice.
Money
- Separate account for music income and expenses
- Every income source listed
- Receipts and records kept by month
- Conversation with a qualified accountant
Structure
- Considered business structure with an attorney/accountant
- EIN obtained if forming an entity
- Agreements signed in the correct name
Rights & paperwork
- Ownership map for every song
- Split sheets and agreements stored in one place
- Royalty registrations complete
Systems
- Release checklist used for every release
- Email list and website you control
- Monthly review of revenue, signups and sales
Team (when the work requires it)
- Music attorney contact
- Accountant contact
- Clear written terms with any manager or collaborator
