SEVEN BIGGEST MISTAKES
Musicians are making when choosing an accountant
Your creativity drives your income but the financial side of music is anything but simple.
From royalties and touring to teaching and production, the wrong accountant could be quietly costing you thousands.
WE’VE GOT THE ANSWERS
Choosing an accountant who doesn’t understand your industry
Music income is not straightforward
Mistake:
Hiring a generalist who doesn’t grasp royalties, touring, or multi-contract work.
Fix:
Choose a music specialist who knows the business from publishing deals to performance income.
Overlooking multiple income streams
Most musicians earn from various sources: gigs, streaming, teaching, production, merch, and more.
Mistake:
Not tracking and categorising income properly.
Fix:
Work with accountants who optimise every source and keep your books perfectly tuned.
2
Missing Deductible Expenses
Travel, instruments, studio time, clothing, equipment — it all adds up.
Mistake:
Leaving legitimate expenses unclaimed.
Fix:
Use an accountant who knows exactly what can be claimed and how.
Ignoring International Tax Rules
Touring or collaborating abroad? You might be taxed twice if things aren’t handled correctly.
Mistake:
Not considering global tax agreements.
Fix:
Choose an accountant who understands Double Taxation Treaties and international compliance.
Not Structuring Income Correctly
Self-employed or limited company? Many musicians choose the wrong setup.
Mistake:
Using an inefficient tax structure that limits your financial flexibility.
Fix:
Get advice on the most tax-effective and protective setup for your situation.
Only Thinking About Tax Season
Great accountants don’t just react, they plan.
Mistake:
Only contacting your accountant when your return is due. Fix:
Work with someone who offers ongoing, proactive guidance to plan ahead for tours, contracts, and releases
Doing It Alone
You should be focused on your music, not your tax code.
Mistake:
Trying to manage complex finances yourself.
Fix:
Let an expert team — like AXIA handle your global tax, accounting, and structuring needs, so you can focus on creating.
At AXIA, we work with artists, bands, producers, and engineers worldwide ensuring your finances stay in harmony while you stay in rhythm. We can’t make you rich, but we can help you keep as much of your hard-earned money as possible.
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