Bookkeeping and Accounting for Songwriters

Looking for a bookkeeper and accountant for your songwriting career? We handle your financial melody, so you get more time to focus on crafting your music. Try us for free.

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How Bench works with songwriters

Unleash your creativity without worrying about your finances. With Bench, songwriters can get their bookkeeping, income tax prep, and filing done by experts—all on one powerful platform. Let Bench tune up your financial records while you compose the next big hit.

We get you set up

Our team makes the effort to fully comprehend your work as a songwriter, address any uncertainties you may have, assist you in connecting your accounts, and demonstrate how Bench caters to your specific needs.

We do your bookkeeping

Every month, your dedicated bookkeeper arranges your songwriting related transactions and drafts financial summaries. If they require any additional information from you, they'll directly communicate with you.

We deliver tax-ready financials

Our team of experts understands the nuances of the songwriter's income tax regulations and will tailor their strategy to your creative profession's specific requirements.

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

Get fast, unlimited support from our expert advisors

At Bench Accounting, we understand the rhythm of your work as a songwriter. We'll keep you in tune with your financials, providing you with regular bookkeeping updates. And we're always ready to hit the high notes when it comes to your pressing concerns. You can expect a response from us within one business day or less.

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Guaranteed accuracy in every detail

Our platform enables seamless integration of financial data from most major providers to prevent common errors. We collaborate with entities similar to Gusto, Stripe, Shopify, and Square— ensuring your financial records, which include your song royalties, are always accurate. This is especially beneficial for songwriters like you, as it enables you to focus on your craft instead of the numbers.

See where you’re spending. Make smart decisions

Say farewell to cluttered sheet music and hours of manual royalty tracking—with Bench, we automate inputs directly from your linked accounts. Glean insights from one centralized platform so you can effortlessly comprehend your financial health and make informed decisions for your songwriting career.

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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 songwriters

At Bench, we understand that running the business side of being a songwriter can be a challenging and tedious task, considering the multitude of industry-specific taxes and laws applicable. From income classification complexities, such as ASCAP or BMI royalties, to understanding the tax deductions related to studio rentals, equipment expenses, and travel costs - it can easily become overwhelming. This is where Bench comes into play. We whip your songwriting finances into shape, ensuring that they are efficient, organized, and fully compliant with the laws.

Our team doesn't just solve the bookkeeping needs of songwriters, but also transforms it through a unique blend of intuitive software and personalized support from real, human bookkeepers. As we navigate the financial landscape of your songwriting business, our expert team ensures that your royalties, advances, and that all-important tax return are accurately managed. You will not only gain peace of mind but also more time and energy to focus on your real passion - creating music. With Bench, you can trust that all your songwriting bookkeeping and tax needs are well taken care of, in a way that’s never been done before.

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 songwriter, how can I effectively track and manage my royalties and copyrights from a financial perspective?

As a songwriter, tracking and managing your royalties and copyrights can be challenging, but they're crucial components of your financial well-being. Here's how you can do it effectively:

  1. Stay Organized: Keep accurate records of all your songs, licensing deals, and royalty agreements. This information will be crucial for tracking earnings and ensuring you've been paid properly.
  2. Use Professional Accounting Services: Services like Bench Accounting can help manage your financial affairs, taking care of all your bookkeeping needs and ensuring your finances are correctly managed.
  3. Understand Copyright Laws: Understanding your rights as a songwriter is critical. Register your work with copyright offices and Performing Rights Organizations. This not only protects your work but also ensures that you receive all royalties you're entitled to.
  4. Utilize Royalty Collection Services: Companies like ASCAP, BMI, and SESAC can collect royalty payments on your behalf from various sources, making it easier for you to manage and track your earnings.

Don’t worry if you find any of this overwhelming, as a songwriter, your priority is your art. Let Bench Accounting handle your financial management, and ensure you receive every dollar you've earned.

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How does taxation work for income earned from songwriting, including royalties, advances, and performance rights?

Income derived from songwriting including royalties, advances, and performance rights are considered self-employment income. This means that in addition to regular income tax, you'll also have to pay self-employment tax, which includes contributions to Medicare and Social Security. Furthermore, it's crucial to note that tax deducted at source might not be applied to these earnings, leaving the entire tax burden to be addressed during your tax filing.

Generally, advances and royalties are taxable when received, irrespective of the method accounting you use. Performance rights income becomes taxable when payments are made or when the rights to payment are sold.

You're also entitled to deducting business expenses directly related to earning your songwriting income. This might include equipment or studio rental costs, marketing, and promotion, etc.

Tax law and its application can be complex and multifaceted, hence, appropriate bookkeeping practices are essential to ensure accurate reporting and optimal deductions. Consider working with a knowledgeable bookkeeper who is familiar with the specifics of the music industry, to help you navigate through taxation efficiently and legally.

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What kind of specific expenses can songwriters claim for tax deductions, and how should these be recorded?

Songwriters are eligible to claim numerous types of specific expenses for tax deductions. This can include professional fees and dues, home studio costs, instrument repairs, travel expenses associated with performances or meetings, promotional costs, and more.

When it comes to recording these expenses, keeping detailed and consistent records is key. Preserve receipts, invoices, bank statements, and other documents that detail your expenses. Create an organized system for tracking these costs, whether it's in a spreadsheet or accounting software. Be sure to outline what the expense was for, the date, and the amount. Also, keep a separate bank account or credit card for your business-related expenses to easily separate them from personal costs.

At Bench, we can help manage all areas of your bookkeeping, including tracking your expenses and helping you get the most out of your tax returns. We're knowledgeable about specific deductible expenses for songwriters and can ensure they're accurately recorded to minimize your taxable income.

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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 Songwriters

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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No credit card required. By clicking ‘Start a Free Trial’, I agree to Bench’s Terms & Privacy Policy.