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Thread: Is a band a business??

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    Default Is a band a business??

    Is a band a business??

    Just curious.

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    Moderator ByrdDawg's Avatar
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    Default Re: Is a band a business??

    You can run a band as a business but in this town you would be declaring bankruptcy after the first weekend.

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    Default Re: Is a band a business??

    Well depends on how you market it ByrdDawg.

    Yes you can run it as a successful business with a business license. You figure merchandise, performances, websites.. its all a business. You can also receive grants from Factor and the Canada Council. Go speak to Paul LeClair @ the American Federation of Musicians and he can fill you in.

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    Moderator fenderbass's Avatar
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    Default Re: Is a band a business??

    Is a band a business? You could answer that question in a few ways. Sure it could be a
    business venture with other members of the band as your work buddies but all the decisions should be made equally...Everyone in the band should have there say in all the bands ideas...example gigs and pay! Could you get rich from a band business(NOPE!) Not in this town. . Even harder is finding the right guys to form a band in this town. That agree on styles of music , places to play..and get along...I would say that come tax season though, the government would like there cut of your hard earned gig money...This is my opinion on bands and business...Anyone want to start a band?
    Last edited by fenderbass; 01-22-2009 at 10:02 PM.
    Die Lügen sind wie Schneebälle: je weiter man sie fortwälzt, desto größer werden sie: Lies are like snowballs: the farther they roll, the greater they grow

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    Default Re: Is a band a business??

    Quote Originally Posted by gearheadjay View Post
    Is a band a business? You could answer that question in a few ways. Sure it could be a
    business venture with other members of the band as your work buddies but all the decisions should be made equally...Everyone in the band should have there say in all the bands ideas...example gigs and pay! Could you get rich from a band business(NOPE!) Not in this town. . Even harder is finding the right guys to form a band in this town. That agree on styles of music , places to play..and get along...I would say that come tax season though, the government would like there cut of your hard earned gig money...This is my opinion on bands and business...Anyone want to start a band?



    Not really look at KIss....they are a multi million dollar buisiness

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    Senior Member \m/ Rich \m/'s Avatar
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    Default Re: Is a band a business??

    Quote Originally Posted by X-Man View Post
    Not really look at KIss....they are a multi million dollar buisiness
    they're a sideshow - more business and marketing than band.
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    Moderator fenderbass's Avatar
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    Default Re: Is a band a business??

    Quote Originally Posted by X-Man View Post
    Not really look at KIss....they are a multi million dollar buisiness
    ...I did state in my post..LET ME QUOTE"(NOPE)...Not in this town.."..end quote...
    Die Lügen sind wie Schneebälle: je weiter man sie fortwälzt, desto größer werden sie: Lies are like snowballs: the farther they roll, the greater they grow

  8. #8
    Senior Member acetourer19's Avatar
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    Default Re: Is a band a business??

    If you claim the band expenses (Gas,insurance,any purchases or repairs to equipment,telephone etc.) plus income from gigs when you file your income tax then you are legally a business.
    I claimed my band expenses for quite a few years as self employment. The other band members could file their own if they chose to.

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    Senior Member rmkryan's Avatar
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    Default Re: Is a band a business??

    Is it worth starting a band for the write off benefits? Gearheadjay, I'm looking to start something.
    Racing is not a sport, it's a lifestyle.

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    Moderator fenderbass's Avatar
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    Default Re: Is a band a business??

    Quote Originally Posted by rmkryan View Post
    Is it worth starting a band for the write off benefits? Gearheadjay, I'm looking to start something.
    ...for the little money you get payed and unless you play every week-end then I would dought it would be worth it...for one thing why would you claim money you didn't pay tax on. Your to honest then. I take the money and put it into gear
    upgrades...Its just pocket money for me and I'm not going to tell the government that I earned it.
    Die Lügen sind wie Schneebälle: je weiter man sie fortwälzt, desto größer werden sie: Lies are like snowballs: the farther they roll, the greater they grow

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    Moderator fenderbass's Avatar
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    Default Re: Is a band a business??

    rmkryan...e-mail me
    Die Lügen sind wie Schneebälle: je weiter man sie fortwälzt, desto größer werden sie: Lies are like snowballs: the farther they roll, the greater they grow

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    Senior Member rmkryan's Avatar
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    Default Re: Is a band a business??

    PM to you
    Racing is not a sport, it's a lifestyle.

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    Senior Member \m/ Rich \m/'s Avatar
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    Default Re: Is a band a business??

    if you two are plotting something, pm me your plans, i may be interested in this.

    Definitely getting tired of not playing.
    Last edited by \m/ Rich \m/; 01-23-2009 at 03:01 AM.
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  14. #14
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    Default Re: Is a band a business??

    Quote Originally Posted by rmkryan View Post
    Is it worth starting a band for the write off benefits? Gearheadjay, I'm looking to start something.
    According to CRA, In order to write stuff off, you have to have a reasonable expectation of profit.
    If it is obvious that you only have expenses and very little income, they may red flag you and you may undergo an audit.

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    Senior Member nightingale's Avatar
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    Default Re: Is a band a business??

    I'd be really careful about not claiming the money you are making (no matter how little). The business that is paying you is most certainly claiming their payout. Therefore the government will be looking to your tax return for the income (even if you didn't get a T4). Like BlueSky said, you'll be red flagged and possibly audited.

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    Senior Member \m/ Rich \m/'s Avatar
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    Default Re: Is a band a business??

    so are the two of you (nightingale, bluesky) - musicians, musician spouses, or tax pros?


    cuz there might be a cut for a tax pro!
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    Moderator fenderbass's Avatar
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    Default Re: Is a band a business??

    Quote Originally Posted by nightingale View Post
    I'd be really careful about not claiming the money you are making (no matter how little). The business that is paying you is most certainly claiming their payout. Therefore the government will be looking to your tax return for the income (even if you didn't get a T4). Like BlueSky said, you'll be red flagged and possibly audited.
    ..

    Do you think we are getting rich behind the governments back?? If so give your head a shake
    Die Lügen sind wie Schneebälle: je weiter man sie fortwälzt, desto größer werden sie: Lies are like snowballs: the farther they roll, the greater they grow

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    Moderator fenderbass's Avatar
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    Default Re: Is a band a business??

    one more thing nightingale!! when you sell something for example $100..do you claim that as income on you tax at the end of the year...I highly dought it!..Go float your boat about taxes some were else
    Die Lügen sind wie Schneebälle: je weiter man sie fortwälzt, desto größer werden sie: Lies are like snowballs: the farther they roll, the greater they grow

  19. #19
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    Default Re: Is a band a business??

    I would only suggest that a band make a business if they are actually making a living of off what they do. If it's their primary source of income and they are putting out alot for expenses, it's worth it come income tax time. I highly doubt that any local bands make a decent buck here in the soo from what i've been hearing about how much the bars pay out. In my opinion, until you sign a recording contract I say screw the business idea and just get out there and party on!!

  20. #20
    Senior Member Hey Mr DJ's Avatar
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    Default Re: Is a band a business??

    Quote Originally Posted by nightingale View Post
    I'd be really careful about not claiming the money you are making (no matter how little). The business that is paying you is most certainly claiming their payout. Therefore the government will be looking to your tax return for the income (even if you didn't get a T4). Like BlueSky said, you'll be red flagged and possibly audited.
    If a bar owner pays out in cash and the band doesn't give a receipt, there is no paper trail that leads back to the band so if the bar owner wants to claim it as an expense he is the one that will get flagged. \

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