Bookkeeping and Accounting for Music Composers

In need of a bookkeeper and accountant for your music composition business? We handle your books, giving you more time to create beautiful melodies. Give us a try for free.

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How Bench works with music composers

Elevate your score sheets while we balance your books. Get your bookkeeping, income tax prep, and filing handled by experts—powered by one harmonious platform. Bench works in tune with music composers.

We get you set up

Our team invests their effort to thoroughly comprehend your work as a music composer, answer your queries, assist you in connecting your accounts, and demonstrate how Bench can streamline your bookkeeping.

We do your bookkeeping

Each month, your dedicated bookkeeper organizes your composition transactions and prepares financial reports for your music business. If they require any more details from you, they’ll promptly reach out.

We deliver tax-ready financials

Our expert team is well-versed in the tax intricacies related to the music composing industry and will tailor their methods to meet your business' distinct requirements.

Here’s why music composers like you trust Bench with their bookkeeping and accounting

Get fast, unlimited support from our expert advisors

At Bench, we regularly keep music composers updated with their bookkeeping details. Have crucial questions that can't be postponed? Rest assured, our response will hit the right note, getting back to you within one business day or less.

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screenshot of Bench support app

Guaranteed accuracy in every detail

Our platform lets you effortlessly automate data inputs from significant providers, helping to prevent frequent missteps. We collaborate with merchants like Gusto, Stripe, Shopify, and Square — ensuring your financial records as a music composer are always precise and up-to-date.

See where you’re spending. Make smart decisions

Wave farewell to heaps of musical manuscript paperwork and exhaustive manual tracking—we automate inputs straight from connected accounts. Experience clarity from one unified dashboard, enabling you to easily comprehend the financial status of your composing career and make smart, strategic decisions.

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Bench integrates with your favorite small business tools

We sync seamlessly with your financial accounts and tools to keep your books up-to-date and save you the time and effort of manually uploading documents.

Trusted by 25,000+ American small business owners

“Bench helped me replace QuickBooks, and save about 6 hours per month of horrible accounting work, which is priceless.”

CHRIS RONZIO

CEO, TRAINUAL
“This is the first year where it’s tax season and I don’t feel anxious one bit.”

DR. BUKKY KOLAWOLE

FOUNDER/EXECUTIVE DIRECTOR, RELATIONSHIP HQ
“Bench has lifted a giant weight off my shoulders and freed up my time so I can focus on earning money and working with clients, meetings and calls.”

HEATHER SHOLL

FOUNDER, THE VILLAGES GYM
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We know bookkeeping for music composers

When it comes to the music industry, and more specifically music composers, Bench Accounting understands the unique financial landscape you operate within. We know that your revenue stream could consist of varied income from royalties, licensing fees, live performances, and music sales. Paired with the complexity of copyright laws and fluctuating royalty rates, managing the finances in the music industry can be daunting. By combining the power of our intuitive software and the expertise of our dedicated bookkeepers, we help manage and maneuver through these industry-specific financial intricacies.

At Bench, we not only take care of the day-to-day bookkeeping tasks, but we also navigate through the specific tax obligations of music composers, identifying relevant tax deductions such as home studio costs, marketing, and travel expenses. Further, in an industry where international revenue is common, our expert team is well-versed in international tax laws, ensuring that global income is correctly accounted for. With Bench Accounting, small business owners in the music composition industry can focus on creating great music, knowing that their financial obligations are in the hands of capable professionals.

Simple, straightforward pricing for everything your business needs.

Get bookkeeping, tax prep, advisory, and filing with Bench's powerful, easy-to-use platform.

Choose Plan

Essential

Best for those looking for peace of mind and accurate financials done by professional bookkeepers.
$249/mo

billed annually

Dedicated bookkeeping experts
Accurate monthly books and year-end tax-ready financial packages
P&L, balance sheet and 1099 reporting
Unlimited communication with your bookkeeping team

Premium

Best for those looking for an all-in-one bookkeeping, tax advisory and income tax filing service.
$399/mo

billed annually

Everything in Essential plan
Dedicated team of licensed tax professionals to file your income tax return on time
Annual income tax filing for businesses (partnerships, S corps, C corps)
Annual income tax filing for individuals (sole proprietors, contractors)

Essential

Best for those looking for peace of mind and accurate financials done by professional bookkeepers.
$299/mo

billed monthly

Dedicated bookkeeping experts
Accurate monthly books and year-end tax-ready financial packages
P&L, balance sheet and 1099 reporting
Unlimited communication with your bookkeeping team

Premium

Best for those looking for an all-in-one bookkeeping, tax advisory and income tax filing service.
$499/mo

billed monthly

Everything in Essential plan
Dedicated team of licensed tax professionals to file your income tax return on time
Annual income tax filing for businesses (partnerships, S corps, C corps)
Annual income tax filing for individuals (sole proprietors, contractors)

Frequently Asked Questions

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As a music composer, what specific expenses can I deduct on my tax returns?

As a music composer, you can deduct several specific expenses on your tax returns. These expenses generally relate to the production and promotion of your musical compositions, as well as the maintenance of your professional expertise. They include:

  • Costs of producing demos or promotional materials
  • Instrument and equipment purchase and maintenance costs
  • Music composition software subscription or purchase fees
  • Professional membership fees for music composer organizations
  • Music reference materials and educational resources
  • Travel expenses for performances or professional development
  • Home office expenses if you frequently compose from home
  • Legal and professional fees related to copyright, licensing, and contracts

Please consult with a tax professional familiar with the music industry to ensure the applicability and validity of these deductions to your specific situation.

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How do royalty payments impact my income and how should they be accounted for?

Royalty payments represent a type of income received for allowing another party to use your intellectual property, such as patents, copyrighted works, franchises, or natural resources. This income is taxable and must be reported on your tax returns.

From an accounting perspective, royalty payments should be accounted for as income in the period they are received. In terms of your income statement, they will be classified under the 'Other Income' category. It's important to keep accurate and detailed records of your received royalties to ensure proper accounting and tax compliance.

Handling royalty income can be complex due to the tax considerations and potential deductions involved. It's highly recommended that individuals or companies receiving significant royalty payments seek the assistance of a bookkeeper or accountant. This professional can ensure royalties are properly recorded and accounted for, and can assist with relevant tax planning and reporting requirements.

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How can I manage my accounting in relation to my music composing projects and contracts?

Managing your accounting for music composing projects and contracts can be particularly complex due to variables like royalties, contract payments, and additional expenses. Thankfully, Bench Accounting has a multifaceted solution for you.

Our bookkeepers are skilled in tracking income and expenses for creative professionals including music composers. We can keep track of your various contracts, royalty payments, project-related costs and more, so you can focus on your composing.

We’ll provide you with financial reports tailored to your needs, to help you understand your cash flow and make more informed decisions. Plus, we can even handle tax filing for you, ensuring everything is up-to-date and in order.

To get started, simply reach out to our team and we’ll guide you through the next steps. We look forward to being part of your financial journey and helping you manage your bookkeeping needs so you can continue your great work in the music world.

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Does Bench outsource bookkeeping?

Nope! All bookkeeping is completed in-house.

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Will I have one point of contact?

Your bookkeeper will be your main point of contact, but at times you might hear from another member of your team. This is usually when your bookkeeper goes on vacation, is sick, or otherwise unavailable.

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How much time each month will I have to spend managing my Bench account?

We handle the bookkeeping for you but sometimes we’ll need your input, especially at year-end. On average, expect to spend 15 minutes each month answering questions for your bookkeeper, or uploading supporting docs.

Bookkeeping Services for Music composers

Sign up for a Bench trial, and get one month free. If you decide to go with us, we’ll take bookkeeping off your plate—for good.

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