OK some sdvice from any full time pro's out there plse. As a few that know me , will know my daughter has been developing her career as a singer songwriter. She has been taken under the wing by a top producer in LA and has recorded a number of her songs with him , and have a "production contract" with him.
She is now doing showcases in London (tomorrow) , New York and LA. Apparently , one of the biggest publishing companies (better not mention them by name) are very interested and we are told about to offer her a big contract. I am going to meet the producer tomorrow and get some more info.
I have been keeping all her receipts for the last couple of years ( though the production company have paid for all her flights/hotels , etc so far).
I am thinking it may time to set her up as a "company" and pay her a salary out of it. Of course we will need to get a lawyer (have someone in mind who gave free advice on the production contract) and accountants. I have no experience of setting up a company , does anyone know the best place for advice for a musician who I expect will have a "lumpy" income , to ensure it is tax effecient.
I also want to make sure she is only paying for the people she really needs . There is talk of a large advance (5 figures) , but am a little cautious of big advances as I see that is a form of "debt" against future work they locks you in worse than a mobile phone contract ...
Any advice would be welcome.
Ta
Comments
Bandcamp
Spotify, Apple et al
Seriously: If you value it, take/fetch it yourself
I’m so bored I might as well be listening to Pink Floyd
What I really need is advice on setting her up as a company so it is the "company" that signs so she is not personally liable. As she will be launched in the US I will also need to find a good accountant to deal with tax issues.
I’m so bored I might as well be listening to Pink Floyd
The songs are already recorded , mixed and mastered by a producer who has produced many top names and is a multi grammy winner himself. He has paid for everything so far, and flown over from LA to accompany her tomorrow at her showcase . I guess we need promotion and distribuion now.
Seriously: If you value it, take/fetch it yourself