Understanding Your Music Business Expenses

Okay, what's the album? Everything to do with your business.

That's very broad, I know. But as I said earlier, think of:

• Guitar strings
• Piano tuning
• Your mobile phone
• Recording equipment

If you buy a laptop, invariably, you're going to use that:

• A for communication
• B for recording transport.

So, any business trips you're making may involve:

• Going to see your lawyer
• Meeting your manager
• Visiting the recording studio
• Attending rehearsals
• Consulting your accountant
• Meeting with a label
• Collaborating with other musicians.

Additional Costs to Consider

• Internet costs: Important for certain artists.
• Clothing and grooming: If you're performing, you can't just go on stage as you are, although some people do go straight from the street and then head home.
  • However, you typically need some form of grooming, which is allowable.

If you belong to any musician's unions, those expenses are also allowable.

Trade Publications

• Trade magazines: Like Music Week or MME (if it still exists) are all part of your direct costs.
• Hiring musicians: If you're a solo artist, you'll likely need to hire other musicians, and the money you pay them is allowable.

Keep It Relevant

It's quite broad, so you have to really step back and ask yourself, "If I spent this, is it going to help me with my career?"

For example, some artists provide receipts for personal items, such as underwear or tights.

Direct Costs Matter

While we all need certain personal items, direct costs are what matter most in this context.

If you buy a notepad and pencil because you need to write lyrics, that's allowable too.

Don't forget about:

• Inkjet costs
• All those types of expenses that contribute to your business.

In summary, the expenses you incur should directly relate to your music career, ensuring they contribute to your professional growth and success.