You’re a musician…but is it a HOBBY or a “REAL JOB”?

(This article was written by entertainment attorney and indie artist Christiane Cargill Kinney. You can follow her on Twitter for more helpful indie-artist tips.)

As independent musicians, there are many times when we have to work second jobs to make ends meet, and after you factor in the costs of recording, manufacturing, marketing, touring, and other legitimate business expenses, not to mention sharing any profits you may receive with your co-authors, managers, agents, labels and distributors, the fact remains: independent music does not always turn a profit.

When tax time rolls around every year, many of us receive the same lecture from our accountants: “You need to start showing a profit, or the IRS may consider this a ‘hobby’ and not a ‘real job.’” If you haven’t heard this lecture in the past, you should probably get a new accountant. However, for those of you who have heard it, your reaction may be the same as mine. Read more »