Although accounting firms have set business hours, that doesn’t mean a Music Business Accountant’s day ends at 5 pm. They work with artists who https://www.bookstime.com/bookkeeping-services/lancaster live in other time zones, as well as artists who are juggling a day job while making music at night. Without music, Alexis wouldn’t be where she is today as an accountant. Music took her to college in Washington, DC where the music scholarship helped pay for her accounting degree.

Incentives Forecasting & Comparisons

We also keep up with current tax laws, registration and license requirements, and music and royalty accounting rules so you don’t have to! With each of these together, we’re able to provide accounting you can understand and use to make a profit in your artistic business. Artistic business financial services are essential regardless of the size of the business. Therefore, Growth Group can assist any musician, photographer, designer, contractor, MLM or IBO, consultant,, self-employed, or home based business owner to make a profit and reduce taxes at an affordable price. We are headquartered in the heart of the Hollywood production hub, which has made us a convenient and trusted resource for our entertainment and media clients – including individuals, record labels, production companies, and more.

ENTERTAINMENT

Atlanta-based Alexis Louis (fka Alexis Kimbrough) is the founder of Growth Group, a music-focused accounting firm that music industry accounting works with musicians, record labels, and recording studios. A musician herself, she has served as featured panelist at the International Music Conference, Driven Music Conference and as a panelist at the Xero Roadshow. Her academic background includes stints studying Accounting and Taxation at Howard and American Universities. Designed specifically for professionals like you in the music and entertainment industry, we take the stress out of managing your finances. We’ll work closely with you to understand your unique needs and tailor our services to suit your business perfectly.

• Many of them generate income from multiple sources, including radio, film, TV, theatre, and digital, and there are always new revenue streams emerging.
• This independence provides an additional trusted outlet to assess financial decisions.
• Alexis M. Kimbrough, a true musicians accountant, founded AMKtax in 2008 during her senior year at Howard University, in Washington, DC.
• If you pay taxes at a 25% rate, each expense item you can claim is the same as buying that item with a 25% discount.
• Our team of accountants support tour accounting, look after income streams and deliver compliance work.
• Because we value education, Growth Group supports musicianship because we believe participation in fine arts gives students an advantage in school.
• Advances in technology and the increasing use of it, allow you more access to us as your  music accountant, anytime, in your own way.

Berklee Career Manager

Our deep expertise is unlike any other firm, and our entertainment industry accountants can help you take advantage of available incentives while navigating risks. We work with the entertainers directly or with their agents, attorneys and personal managers. Our focus is on tax and accounting issues, recoupable expenses, tour budgeting, asset depreciation, contracts, program budgeting and much more. Since 1988, we’ve worked with a diverse and ever-expanding portfolio of artists, songwriters, producers, managers, recording studios, agencies, festivals and record labels. We can contribution margin assist you with all of your tax planning, corporate tax planning, capital gains tax, and estate planning.

We also have a team of experts, which includes Certified Fraud Examiners, that can prepare damage calculations, and assist with case assessment, case strategies, discovery, expert witness testimony, tax analysis, and fraud prevention, detection, and deterrence. We work closely with you and your representation to manage your ongoing financial responsibilities and achieve your goals. This includes paying bills, managing cash flow, budgeting, bookkeeping, tax planning and preparation, administering payroll, wealth management and more.

Specialist teams to support our clients in growing their brands & audiences

We’ve nurtured many of our music clients from early start-up businesses and unsigned artists, and over the years as they’ve achieved commercial success and grown internationally. The depth of specialist experience and knowledge we’ve gained since has led us to become widely regarded as one of the top three music and entertainment accountants in the UK. The best arts and entertainment accountants are creative-minded, personable, articulate, cool-headed, and communicate well with their artistic clients. Exceptional organizational skills, attention to detail, and the ability to manage time are vital.

“Showtime” even gave her the opportunity to perform internationally, with thousands in the audience. This is why she loves musicians, artists, and entertainers – because that is who she is. A musician must be concerned with the business of his or her art.  Just like any other business, a musician must comply with accounting, tax or audit requirements. We provide tax return preparation and audits, as well other services, required to satisfy investors in your organization or the federal and state governments. Learning never stops and Growth Group gets to know your music business, this way we can help you learn about business finances.

Networking and maintaining a reputation in the industry is vital for drawing in new clients. Fortunately for arts and entertainment accountants, the best networking might come from attending a concert, play, or movie release. It’s this, along with the opportunity to work closely with artists and arts-related organizations, that draws most to this field. We serve the entertainment industry as a trusted and longtime resource for accounting, tax, audit, and business management services – supporting our clients’ interests anywhere in the world.