Learn the 5 companies you have to register your music with in this e-book: Music Royalties Demystified
Summary
In this episode of the Breve Music Podcast, host Jermaine Harris discusses financial strategies for musicians when they start earning money in the music industry. He highlights the importance of distinguishing between recurring and one-time payments and emphasizes the need to set aside money for taxes. Jermaine suggests using tools like Mint.com and QuickBooks for tracking income and mentions the necessity of considering quarterly tax payments. Additionally, he advises on allocating funds for investment, savings, and personal use, especially for those just beginning to make money from their music. Jermaine explains the decision-making process between saving and investing, detailing the benefits and drawbacks of both options. He concludes by mentioning that future episodes will cover different investment methods such as 401ks, IRAs, real estate, and more, inviting feedback and suggestions from listeners.
Interested in connecting with Jermaine?
Email: info@brevemusicstudios.com
Website: Breve Music Studios
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Equipment:
HyperX QuadCast (LINK): https://amzn.to/3QynddK
Beyerdynamic DT 770 Pro 80 Ohm (LINK): https://amzn.to/445hYoK
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