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. Sign up today and get a free month of bookkeeping, valued at $299.
No credit card required. By clicking ‘Get Started’, I agree to Bench’s Terms & Privacy Policy.
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.
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.
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
CHRIS RONZIO
DR. BUKKY KOLAWOLE
HEATHER SHOLL
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.
Join over 25,000 US-based business owners who have streamlined their finances and have grown their businesses with Bench.
Choose Plan
Bookkeeping
billed annually
Bookkeeping & Tax
billed annually
Bookkeeping
billed monthly
Bookkeeping & Tax
billed monthly
Frequently Asked Questions
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.
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.
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.
Nope! All bookkeeping is completed in-house.
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.
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
Discover how we can help you have better finances with a personalized demo from a Bench expert, ready to answer all your questions. Sign up as a customer today and get a free month of bookkeeping, valued at $299.
No credit card required. By clicking ‘Get Started’, I agree to Bench’s Terms & Privacy Policy.