Accounting for Musicians
Track royalties, gig income, and equipment expenses.
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Royalty Aggregator
Consolidate royalty statements from ASCAP, BMI, DistroKid, TuneCore, and streaming platforms into one income dashboard.
Gig Income Tracker
Log live performance income with venue details, travel expenses, and per-show profitability after band splits and costs.
Studio & Gear Depreciation
Track instruments, amplifiers, recording equipment, and studio investments with tax-optimized depreciation scheduling.
Band Revenue Splitter
Configure revenue sharing agreements between band members and automatically calculate each person's share of gig, merch, and royalty income.
Financial Challenges for Musicians
- Tracking royalty payments from multiple distributors, PROs, and streaming platforms that pay on different schedules
- Managing income from diverse sources: live gigs, session work, teaching, merch sales, and sync licensing
- Depreciating expensive instruments and studio equipment while deciding between Section 179 and standard depreciation
- Splitting revenue fairly among band members with different ownership percentages and contribution levels
Musicians juggle more income streams than almost any other profession. Between royalties from multiple distributors, live performance fees, session work, teaching income, merchandise sales, and sync licensing, tracking where the money comes from—and where it goes—is a full-time job in itself.
FiscalInsights consolidates the financial chaos of a music career into one organized system. Our royalty aggregator pulls data from distributors and performing rights organizations, while the gig tracker logs performance income and expenses per show. For bands, our revenue-splitting tools ensure every member gets their fair share without contentious spreadsheet debates.
From depreciating a $3,000 guitar to tracking merchandise profitability at the merch table, FiscalInsights handles the financial details that are unique to the music industry. Spend less time on bookkeeping and more time making music.
Frequently Asked Questions
How do musicians track royalty income from multiple sources?
FiscalInsights imports royalty statements from major distributors and PROs, consolidating them into a single view. You see total royalty income by song, by platform, and over time, making it easy to spot trends and ensure you're receiving all payments owed.
What can musicians deduct on their taxes?
Musicians can deduct instruments, equipment, studio time, travel for performances, promotional materials, website costs, union dues, and agent commissions. FiscalInsights automatically categorizes these expenses and tracks gear depreciation to maximize your deductions each year.
How should bands split income and track shared expenses?
FiscalInsights supports custom revenue-sharing agreements where different income types can have different splits. Shared expenses like van maintenance, rehearsal space, and recording costs are divided according to your agreement, and each member receives a clear statement of their share.
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Built for musicians who want to spend less time on bookkeeping.
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