Free guide for Nashville musicians
Why Nashville Musicians Keep Owing the IRS, and the 7 Money Mistakes Behind It
A free special report from Joe Peterson, an accountant who promoted concerts for 15 years and now keeps the books for more than 250 musicians.
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This guide is general information, not tax advice for your situation.
You get paid in lumps. Nobody takes taxes out of any of it.
Cash at the gig. A 1099 here. A check from the road. So a $5,000 bill shows up. You put it on a payment plan. Next year, another $5,000, plus interest on the first one. Give it 2 or 3 years and a musician making $50,000 can owe $20,000. That's a snowball, and it's not an accident. It doesn't mean you're bad with money. You just don't have a system yet. I wrote this guide so it stops with you. No shame in it. Let's just get to work.
What's inside
The snowball: how a $5,000 tax bill turns into $20,000, and how to stop it
The 4 dates estimated taxes are due, and a simple way to pay them
The shoebox problem: one account, one habit, and a same-day receipt photo
Miles: what to log for bus call, gigs, and rehearsal
Per diem on the road: the write-off many touring musicians miss
Gear, your DAW, plugins, subscriptions, and dues: what to track
The home studio: how to get it right
A 1-page write-off checklist to tape up by your gear
The 15-minute Friday money check, and what to hand your accountant in January
About Joe
I'm Joe Peterson, an accountant here in Nashville. Before that, I spent 15 years promoting concerts, so I know what load-in, sound check, and bus call mean. When I sit down with a musician, I ask "What DAW do you use?" because I can tell you whether it's a write-off. More than 250 of my clients are musicians. Most of them were afraid to open their books when we started. We just got to work.
Common questions
Is it really free?
Yes. Fill in the form and the guide is yours. No credit card.
Does this apply to me?
Most of it applies if you're paid on a 1099 and treat your music like the business it is. If you're a W-2 employee, some of the rules are different. Ask me.
How long is it?
About a 10-minute read.
Ready to stop the snowball? Get the free guide.
Send me the free guide
This guide is general information, not tax advice for your situation.