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Thread: Formed a Band LLC

  1. #1
    Super Moderator die Bullen's Avatar
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    Formed a Band LLC

    Finally I have taken the step to create an LLC for my son’s band. We’re at the point that I am getting concerned that there are enough paying gigs that the tax bill to me at the end of the year is going to be fairly significant because all income from the band will be lumped in my taxes. And if the rise in his business continues next year, this thing needed to be done right as quickly as possible. This all means that very soon I am going to have to create a band checking account, etc. in order to pay the band. I didn't think I'd have to do stuff like this for years!

    It also means that companies that scour public records are now starting to contact me with very official looking letters looking to sell me unnecessary services… That is very annoying and some of these letters really require a lot of careful reading to determine if they are legit or not.

    Anyone else have to form a band/ entertainment LLC?

  2. #2
    Axeaholic Hu Duck Xing's Avatar
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    It was inevitable! Will VF have to start filing his own taxes?
    Ya can't pick up a turd by the clean end

  3. #3
    Axetastic doublewah's Avatar
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    Time to join the musician's union?
    I bought a relic'd guitar because I liked the way it sounded. Then I refinished it because I didn't like the way it looked.

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    Axe-honerated zontar's Avatar
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    Not music, but at one point I was part of a fledgling business network and was technically a consultant--and was looking at incorporating, but the network didn't last too long--and I stopped being part of it before it ended--wasn't my thing, I guess.

    So I have no real advice or experience to give you.
    I've been a pilgrim on this earth, since the day of my birth, I'm a long way from my home.

  5. #5
    Super Moderator die Bullen's Avatar
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    Hu, I guess we will have to see how it goes with taxes and income. The first step was get the LLC set up and next is get that checking account so I can start accounting band expenses and sideman pay properly. Admittedly I am learning this whole thing as I go along so it is going to take some time to get it all right.


    DW I'm going to open a new thread on the union because I think this is a great topic for discussion

  6. #6
    Axeaholic edandis's Avatar
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    I guess this will be a primer on how to start a band and do it right.

  7. #7
    Super Moderator die Bullen's Avatar
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    well I hope I am doing it right- a lot of it is trial and error

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