In addition to the general services that are outlined in the Overview section of the Services page there are also the following specific business management services that we provide to clients in the entertainment industry, including: music clients; radio and television broadcasters; and actors & actresses.
Control and Monitor Income – We will oversee and monitor all of the entertainer’s income to ensure that all income is properly received in a timely manner and in accordance with the contract terms. The entertainer’s income generally would include: contract income; movie & television fees; touring income; residuals; merchandising income; and endorsement deals.
Business Structuring – We will assist the client in determining what is the best overall structure for their business activities; taking into consideration risk/liability management and income tax efficiency. Once the best structure is determined we put the plan into action by setting up either the appropriate corporation (S-corp, LLC or C-corp.), partnership or sole proprietorship.
Tour Accounting – For those musicians who tour, we work closely with their tour managers to ensure that all touring activity gets properly incorporated into the business’ accounting records. We set up systems to help tour managers track financial activities while on the road and we facilitate getting touring income from the road and deposited into the proper bank accounts.
Risk Management – We will help our entertainment clients assess their overall risks and in connection with their insurance agents determine the appropriate insurance coverage that is required. Such coverage often includes: domestic and foreign general liability coverage; worker’s compensation insurance; equipment insurance; health/dental insurance; automobile/van insurance; and overall umbrella liability coverage.
Budgeting – We work closely with the artist to establish an overall business plan and budget. After preparing the budget we can monitor the artist’s actual income and expenses in relation to the budget on an ongoing basis. For our clients in the music industry such budgets often include: album/recording budgets; rehearsal budgets; and touring/tour support budgets.
Professional Unions – We work closely with AFTRA, SAG and any other related professional unions to ensure that the artist is taking full advantage of the benefits offered by these organizations, including: health and dental insurance plans, pension plans, etc.
Bill Paying – We are set up to pay all of the entertainer’s personal and business bills from our office, including payments to managers, booking agents, attorneys, independent contractors, and all other vendors. This service is of particularly great value to our touring clients who are on the road for much of the year. By paying our entertainment client’s bills we are often able to improve their credit scores dramatically.
Tax Return Preparation – We will prepare all necessary federal, state and local tax returns for our entertainment clients, including tax returns for their business’ and touring corporations.
Payroll Processing – We will administer payrolls for employees of our entertainment clients, including: personal assistants; household employees; tour managers; road crew; etc. We will ensure that all of the required tax withholdings, remittances and filings are handled in a timely manner.
Control and Monitor Income – We will oversee and monitor all of the entertainer’s income to ensure that all income is properly received in a timely manner and in accordance with the contract terms. The entertainer’s income generally would include: contract income; movie & television fees; touring income; residuals; merchandising income; and endorsement deals.
Business Structuring – We will assist the client in determining what is the best overall structure for their business activities; taking into consideration risk/liability management and income tax efficiency. Once the best structure is determined we put the plan into action by setting up either the appropriate corporation (S-corp, LLC or C-corp.), partnership or sole proprietorship.
Tour Accounting – For those musicians who tour, we work closely with their tour managers to ensure that all touring activity gets properly incorporated into the business’ accounting records. We set up systems to help tour managers track financial activities while on the road and we facilitate getting touring income from the road and deposited into the proper bank accounts.
Risk Management – We will help our entertainment clients assess their overall risks and in connection with their insurance agents determine the appropriate insurance coverage that is required. Such coverage often includes: domestic and foreign general liability coverage; worker’s compensation insurance; equipment insurance; health/dental insurance; automobile/van insurance; and overall umbrella liability coverage.
Budgeting – We work closely with the artist to establish an overall business plan and budget. After preparing the budget we can monitor the artist’s actual income and expenses in relation to the budget on an ongoing basis. For our clients in the music industry such budgets often include: album/recording budgets; rehearsal budgets; and touring/tour support budgets.
Professional Unions – We work closely with AFTRA, SAG and any other related professional unions to ensure that the artist is taking full advantage of the benefits offered by these organizations, including: health and dental insurance plans, pension plans, etc.
Bill Paying – We are set up to pay all of the entertainer’s personal and business bills from our office, including payments to managers, booking agents, attorneys, independent contractors, and all other vendors. This service is of particularly great value to our touring clients who are on the road for much of the year. By paying our entertainment client’s bills we are often able to improve their credit scores dramatically.
Tax Return Preparation – We will prepare all necessary federal, state and local tax returns for our entertainment clients, including tax returns for their business’ and touring corporations.
Payroll Processing – We will administer payrolls for employees of our entertainment clients, including: personal assistants; household employees; tour managers; road crew; etc. We will ensure that all of the required tax withholdings, remittances and filings are handled in a timely manner.