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How do you handle band money?
Joined: Sep 27, 2008 Posts: 1149 Damascus, Maryland 
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Posted on Oct 26 2015 10:03 PM
We're getting to the point of setting up gigs, and now I'm thinking about dealing with band money. How do you deal with merch purchasing/selling, gig pay, etc? If you'd rather not post publicly, I'd appreciate a PM. Everything will be held in confidence. I'm just tryin to come up with the least stressful, most equitable method of dealing with band finances. —Will "You're done, once you're a surfer you're done. You're in. It's like the mob or something. You're not getting out." - Kelly Slater |
Joined: Feb 26, 2006 Posts: 12159 Seattle 
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Posted on Oct 26 2015 11:29 PM
All of our money has always gone into a band fund. We've never pocketed a dime for anything other than pizza for the band. Band fund goes into recording albums, buying merch, paying for record pressing, etc... |
Joined: Mar 13, 2009 Posts: 2367 Twin Cities, MN 
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Posted on Oct 27 2015 12:55 AM
Three things to buy with band money: Any questions? |
Joined: Dec 26, 2013 Posts: 251 
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Posted on Oct 27 2015 04:04 AM
josheboy wrote:
This, and use some of it to bail band members who got caught in the act out of prison No seriously, in most cases we all take a small cut of the band's fee to cover our fuel expenses (as we usually all travel to gigs with our own cars) but at least half of it is put in a band fund. The full earnings of our merch sales go into that fund as well. That fund is then used to pay for studio time, new merch, artwork, hotel accomodation when not provided by event organisors, the occasional gear purchase (if it's in the interest of the band as a whole), etc etc... —"Duck Tape is like The Force: it has a light side and a dark side and it holds the universe together" https://www.facebook.com/pages/Speedball-JR/151771678181829?fref=ts |
Joined: Dec 17, 2012 Posts: 519 Vienna 
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Posted on Oct 27 2015 05:17 AM
hi!
http://www.surfgrammeln-san.org Last edited: Oct 27, 2015 05:17:56 |
Joined: Jan 04, 2011 Posts: 1588 Berlin L-Berg 
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Posted on Oct 27 2015 06:32 AM
JakeDobner wrote:
+1 — |
Joined: Jan 25, 2007 Posts: 1568 Brighton UK
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Posted on Oct 27 2015 06:33 AM
If you're very lucky, you won't reach stage 5. In the real world, you will probably reach it many times. I agree that this is a slightly cynical and world-weary view. A few people are able to make it work differently. They, I would suggest, are the lucky ones. —Last edited: Oct 27, 2015 06:35:25 |
Joined: Oct 01, 2014 Posts: 519 Streatham, London 
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Posted on Oct 27 2015 07:19 AM
The DB5s stick all the money in a box. We have a ritual that all money has to be touched by the drummer first...Lord knows where that came from. It's paid for an extra floor monitor and a recording session for a few songs to try and sell ourselves for more gigs. And after Halloween's gig we're clearing the whole fund out by getting suited up into these... https://www.sixtiesbeatwear.co.uk/product/chesterfield-suit-persian-blue/ |
Joined: May 09, 2008 Posts: 1399 Isle of Kent, MD
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Posted on Oct 27 2015 08:07 AM
On a serious note. If the band is making a small amount a year, then the box method is probably fine. If you have a band that is earning some real money, the IRS may consider this either hobby or business income. If you happen to get a gig that pays over $600 in one shot, chances are someone in the band will get a 1099 that will be reported as income to the IRS. We had a band that was averaging about $3-6K a year with gigs, cd sales, and online sales. We ended up forming a partnership, reporting the income and expenses and taking any income/loss on our personal returns. Not trying to be the downer, but the IRS is getting more and more sophisticated with its income tracking methods. If the band is making some money talk to an accountant. The IRS doesn't accept "everything we made we spent on the band" theory. IRS website —Surf.The most dangerous of genres... Surfcat MARCH OF THE DEAD SURFERS! (2024) - Agent Octopus BANDCAMP - Agent Octopus |
Joined: Jan 17, 2008 Posts: 2188 Atlanta, GA
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Posted on Oct 27 2015 08:33 AM
JakeDobner wrote:
This is pretty much exactly our model, too. Has been since the inception of the band. Any new members get the speech: "You will never make money with this band. You have to be here because you want to be here." That has also meant that no one has come out of pocket with this band. With the exception of some odd travel expenses here and there, we cover everything. I think that it has been the great equalizer for us. Keeps everything super simple and keeps the music the main thing! —
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Joined: Feb 27, 2006 Posts: 2063 Virginia, USA
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Posted on Oct 27 2015 09:46 AM
JakeDobner wrote:
Same —Paul |
Joined: Oct 08, 2014 Posts: 1073 Northern Ohio
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Posted on Oct 27 2015 10:34 AM
Da Vinci Flinglestein, The Syndicate of Surf on YouTube |
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Joined: Feb 27, 2006 Posts: 2063 Virginia, USA
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Posted on Oct 27 2015 11:41 AM
ArtS wrote:
Good point(s) too. We do have a tax ID#. You need one these days if you want to sell songs on iTunes etc. —Paul |
Joined: Apr 03, 2010 Posts: 3201 Jacksonville, AL
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Posted on Oct 27 2015 11:53 AM
We have made a fairly substantial amount during a handful of the years we have been active. But we have still yet to claim any of it. If we ever manage to get our touring schedule back up where it once was this will be a serious consideration. As far as the money handling goes...We take a few dollars for gas. But, beyond that, money made by the bands goes back into the band. —THE KBK ... This is the last known signal. We offer Sanctuary. www.thekbk.com |
Joined: Oct 18, 2010 Posts: 656 Boston, MA
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Posted on Oct 27 2015 12:06 PM
I am SO GLAD that we don't have this problem. But if we ever DO make money, I'll probably just pay the guys, as it's really "my" band. If we were to make a lot of money, I'd pay the guys and then pay myself. I deal with all band expenses. —Matt Heaton & the Electric Heaters |
Joined: Oct 05, 2011 Posts: 110 Eastern Berlifornia |
Posted on Oct 28 2015 06:23 PM
josheboy wrote:
Actually we sell number two of your list as merchandise. |
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Joined: Sep 27, 2008 Posts: 1149 Damascus, Maryland
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Posted on Nov 02 2015 10:21 AM
I find it interesting that so many of you do this. Someone discussed an audition with a band that does it on Talkbass, and the collective answer was "hell no". —Will "You're done, once you're a surfer you're done. You're in. It's like the mob or something. You're not getting out." - Kelly Slater |
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Joined: Jan 04, 2011 Posts: 1588 Berlin L-Berg
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Posted on Nov 02 2015 10:43 AM
I guess these people don't play surf music. I really despise the 'money making' attitude of some (mostly cover)bands and musicians. Glad it's not like that in the surf community (okay okay, mostly because we do not make any money with it, but hey...it's what we love doing). — |
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Joined: Apr 03, 2010 Posts: 3201 Jacksonville, AL
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Posted on Nov 02 2015 11:48 AM
SanchoPansen wrote:
The money making thing is always strange to me. I mean...I get it. Who wouldn't want to supplement their income with a talent they enjoy. And for a sect of the cover band community money is actually made. But anyone looking for a place in an all original band that starts yelling about payment is only showing that they either have a lack of experience in this musical world or that they are completely out of touch with the current environment. The economics of playing original music are not unknown. And they are fairly universal these days. I believe a lot of people have a very wrong idea in their heads in estimating how much they believe some of the more successful indi bands are making. These days I expect my BAND to get paid. That is a no brainer. We no longer play for free unless it is a local show to help support someone coming through on tour. This gesture is usually paid forward and only benefits us when we are on the road. As far as paying the members of my band goes...well...Wouldn't I love to do that? Of course I would. But that is just not reality. I do, however, make sure that finances are kept in order enough that members never lose money. At the end of it all we have a self-sustaining hobby that allows us to travel the country, meet great people, and see other great bands. And food isn't taken off of our individual tables. —THE KBK ... This is the last known signal. We offer Sanctuary. www.thekbk.com |
Joined: Nov 04, 2015 Posts: 4 |
Posted on Nov 04 2015 04:37 AM
We have a band fund. I find this the most easy way to deal with it. Though it's easy if the band is not the prime concern for income. |
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