What's your take... leave your comments below.

What's your take... leave your comments below.

Have you heard people say that it’s “who you know & NOT what you know”? This is the case when it comes to the Music and Entertainment business. You could be the world’s most talented person but if you have no connections than no-one will pay attention to your great talents. If you are someone that is willing to network effectively than you are on the right path by reading this article.

Networking is a great way to get your name or business a reputation. Recording artists do what they do best in the recording studio, but they also need to be the best at networking. Anybody that is interested in having a long-time career needs to understand that these accomplishments don’t happen over night. It takes months to even years to establish a strong network of connections. One of the best ways to network is to attend events such as; iDoMusic (www.idomusiconline.com). I specifically chose iDoMusic because this great event happens 3x a month. iDoMusic is a music networking event for music makers who are trying to establish new relationships, watch talented showcases, and to listen in on our panel discussions with BIG-NAME industry professionals. These types of opportunities don’t exist on the streets, they only exist by making the initiative to come out and taking your career seriously.

I also would like to talk about the difference between NETWORKING and PROMOTING. These two things are very different from each other but I see a lot of common mistakes happen. When someone comes out to network it is to establish some kind of business relationship. Promotion to some people is like handing out flyers or CDs than walking away like nothing happened. I highly suggest individuals to really try to take their time to work on their people skills. It bothers me when I see a room filled with talented individuals but they barely network with each other. If you are going to hand anybody promotional items than have the courage to stick around for 2-3 minutes discussing who you are and what you do. These people all came out to do the same thing, NETWORK. Passing out promotional items doesn’t matter unless you establish some kind of connection with that person, otherwise that CD or flyer might just end up in the dumpster. Don’t settle for anything less but you have to be serious to do more which in return will reward you BIG in the future. The best effective method is to have a 30-second elevator pitch on who you are and what you do. If you elevator pitch sells them than you are giving that person a GOOD reason to follow up with you the next day or week. Give them your business card, CD, or any promotional items that represent you and your business after the conversation is over and move to the NEXT.

The importance of networking is to make that next-step in your music career. One day you will be able to achieve all the things that you’ve ever wanted but it comes with a lot of responsibilities. Networking is one of them and once you become a master at it, you will be on your way to making that KEY Major move.

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By Peter Jason Riley, CPA

Musicians and taxes don’t seem to mix very well. Taxes and administrating the business of music are often last on the list of concerns for the working musician. The artist temperament simply does not interface well with the exacting rule-filled world of federal and state taxation. Musicians avoid the whole matter and consequently leave themselves vulnerable to bad advice. The secret to overcoming this phobia is to develop an understanding of the mechanisms of the tax code and some simple, effective ways of complying with this onerous task. I often use the analogy that you may not need to know how to fix your car but it is helpful to know how it basically works. In so doing you will pay less in taxes and you will be less likely to fall prey to erroneous tax information and disreputable advisors.

Most working musicians are considered "self-employed" in regard to filing their taxes. In a legal and taxpaying sense this means that your "business" as a musician and you as an individual taxpayer are one and the same. There is no legal separation such as one would have in a corporation or other legal entity. The musician/performer usually files a "Schedule C" as part of their regular 1040 income tax form (this is where you report all those nasty 1099’s you received last year!). The performer may also file form 8829 for the home office deduction and will be required to pay self-employment tax (Schedule SE) on their net income (profit) as well as federal income tax. All these forms are part of the year-end 1040 income tax filing. The self-employed musician will also usually be required to pay estimated quarterly taxes on Form 1040-ES (if the tax liability is to exceed $1,000).

The goal is first and foremost to lower your taxes! The musician/performer has a number of tax deductions that are unique. In the balance of this article we will try to break them down to their component parts to make the issues understandable. For the IRS, all deductible business expenses are those that are:

1. Incurred in connection with your trade, business, or profession
2. Must be "ordinary" and "necessary"
3. Must "NOT be lavish or extravagant under the circumstances"

It does not take much analysis to see that these guidelines are not an exacting science. Bruce Springsteen’s recent stay at the Four Season’s Hotel in Boston would for many other working musicians be considered "lavish and extravagant" by the IRS. Mr. Springsteen can no doubt justify the expense due to his need for security and privacy that most musicians would not need. Is a vintage 1955 Fender Stratocaster purchased for $75K "lavish and extravagant" when you can easily buy a new one for less than $1,000? Good question; it may even be considered an "antique" and as such the depreciation write-off may not even be allowed. (By the way, in two recent appeals, courts determined that antique instruments are allowed depreciation as long as they are being played—see the section on equipment.) As you can see, there is plenty of space for interpretation between the cracks here. These are the types of questions that can arise on audits ­ so be prepared.

The performer has a bag of basic expenses that easily fit the above criteria: travel (hotel, meals, etc.), vehicle and transportation, equipment, supplies, stage clothes, home office expenses, legal and professional fees, recording costs, etc.

Want to continue to read more or want specific information, go to artstaxinfo.com .

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By Jordan Galland
Performer Magazine June 2010

THE TRUTH IS, when it comes to making art of any kind, there are no rules. But when it comes to music, by recognizing patterns, charting your strengths and weaknesses and navigating the diverse expanse of aesthetic styles, you'll be able to create unique, well-written songs, whether they're for you or for someone else.

1. Break It Down And Decide On A Genre I write mostly pop music and collaborate with people who are looking for my particular take on the genre. But if you're the one seeking out a recording artist in hopes that they'll want to perform a song you've written, start from the very beginning. Break down their particular genre as thoroughly as you can. Identify what makes the drum fill sound like a perfect fit, the guitar riff shine a little brighter or the bass line carry the melody. A comprehensive breakdown of modern pop music begins with dividing songs up into categories according to shared audible characteristics - dance, rock, folk and so on. It's not unlike a biological classification (animal, vegetable, or mineral); you've got to know which entity you're dealing with and then of course you can mix and match.

2. Find Your Audience Not unlike trying to write a song for yourself, determine who your audience is. When David [Muller, formerly of Fiery Furnaces] and I started out, ten years ago, we were making this mellow, spooky-tinted music, but out of necessity for getting audiences into it live, we ended up going for a more energetic, dance-rock kind of sound. In this case, you're appealing directly to an artist, so absorb as much as you can about them. Listen to their records, read their bio, research other collaborators they've worked with. If you recognize a pattern, decide if it would be best to stick to that pattern (read: give them what they want) or completely surprise them with something they may have never thought they were capable of.

3. Anticipate What They'll Love Think about writing this particular song the same way you would write a script, hoping that a specific actor will get attached. Write the part for that actor, not for yourself. Sean Lennon and I have been friends for years - he's played in my band and I've written songs with him - so we have a shared vocabulary for music. We've both always been into soundtracks and have spent a lot of time talking about film music, and allowing it to influence our music together. In other cases, I'll completely separate myself from the project. What would showcase my vocals, or guitar playing and so on, might not be the same for someone else. Separate yourself from the project in that way.

4. Write It Down This seems like an obvious one. Yes, write down the song itself, but also keep notes. For me, lyrically speaking, being a songwriter is like being a scientific researcher. You've got to keep extensive notes about the things you notice in any given environment. Anywhere you go, everything surrounding you is information you can make sense (or nonsense) of later. Treat this notebook like Darwin's Journal. Fill it with inspiration and just plain observation. A sentence from a National Geographic article you're reading in the waiting room at the dentist. A misheard song lyric on the radio. A fragmented memory of a nightmare - it all goes in.

I got the idea for a song called "Softcore" from a sentence in James Joyce's Ulysses, "Soft Soft Hand," and on a totally different note got the idea for my song "Airbrush" not from a book but from remembering something my brother used to say: "the preview is always better than the movie."

5. Be willing to share, but have enough to go around Having a signature sound or songwriting style is an asset, but make sure you have a diverse enough catalog that it gives other performers something to choose from, but leaves you with some ideas too. You've got your own career as a performer to think about - don't hold back, but every once in a while it might just be worth it to keep that top secret bridge you wrote for your next album.

Courtesy of performermag.com

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The Contract That Will Change Your Career

The Contract That Will Change Your Career
By: Adam Barnosky
July 2010

"EVERYTIME YOU TALK TO ME, you're ten percent smarter than you were before, so I just add that ten percent on to what all the dummies charge for nothing." -Albert Grossman, the legendary 1960s rock manager, explaining why his commission rate was ten percentage points above the industry standard of fifteen percent. In 1961, Bob Dylan was unknown, living in a tiny apartment in New York City, scraping his way into the packed open mics of Greenwich Village. Just two years later, Dylan was touring internationally in support of his third album. The business success behind his career was in the hands of one man: Albert Grossman. Grossman was, by all accounts, a quintessential talent manager: brash, sharp tongued and impeccably dressed, in fervent pursuit of his two most prized passions - money and the success of his clients. In other words, Grossman was everything you'd want in a manager. He may have been expensive, but he was worth every penny.

A manager can make or break your career. There are both practical and legal considerations to keep in mind when determining whether the time is right for management. Two of the practical considerations are (1) finding a manager and (2) finding the right manager. Regarding the former, large management companies actively pursue artists for their roster and rarely accept unsolicited material. However, artists can find management from a variety of other sources. While many managers have tested track records, some transition into the field from other avenues. The White Stripes (Ian Montone, former music attorney) and The Strokes (Ryan Gentles, former venue booking agent) found management from alternative sources. Search the connections you already have and keep a keen eye on those who might provide proper guidance.

The manager that could change your career trajectory could be right under your nose. Regarding the latter, the right manager has to be someone you can trust. While this seems to be common sense, the music world is filled with stories of swindlers and thieves who prey on the faith of their talent (see Lou Pearlman and Allen Klein, prominent rock managers fired by their artists for unsavory - and costly - business practices). After you've decided on a manager (or have been pursued by one), here are a few legal stipulations to keep in mind. While there are dozens of provisions within a properly drafted management agreement, below are some of the more significant terms to consider.

1. Term: Your agreement needs to be long enough for management to achieve its initial goals (a year or more for new artists). However, be wary of terms that are indefinite or bound you to a manager for several years without an exit strategy. The agreement should be mutually beneficial: if management is advancing your career, it should be rewarded and the relationship should continue. However, if management is not performing what is required, there should be a framework set for terminating services within a reasonable timetable.

2. Commission: The industry standard for music managers is usually fifteen percent. This number reflects the gross (not net) of proceeds, which means your manager can take home a hefty paycheck, especially in comparison to any individual band member. A manager's reputation and past successes can reflect his or her take. In essence, a great manager is worth a higher percentage, at least initially, based upon the power of his or her phonebook and clout within the market (see Albert Grossman, above).

3. Sunset Clause: This clause is one of the most important in your management contract and deals with what percentage your former manager will be paid subsequent to his or her representation. Essentially, a manager will be paid for a certain amount of years for the deals entered into under their management contract. Generally, the manager's commission lowers every year following the end of the contract. If your sunset clause is too generous, your gross income could be docked between thirty to forty percent before you see a dime (imagine paying alimony to several ex-spouses).

4. Number of Clients: Attorneys are bound by the Model Rules of Professional Conduct, which prohibit a lawyer from taking on more clients than he or she can handle. For better or worse, managers are not bound by ethical standards. To avoid being the neglected child, it may be wise to include a stipulation in your contract regarding the number of other clients the manager may sign while under your agreement (and to include a term stating that your manager will use "best efforts" in his or her representation).

DISCLAIMER: The information contained in this column is general legal information for educational purposes only. Any use or reliance on this column does not create or constitute an attorney-client relationship.

Courtesy of performermag.com

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