LUCY Academy
Money, tax & running it like a business · Lesson 1 of 6
Separating the music money from your money
20 minFoundationalFree
The first piece of music admin is a boundary. When royalties, show fees, merch takings and your rent all move through one account, working out what you earned means reconstructing a year from memory — and you will undercount your expenses, which means paying more tax than you owe.
What you’ll be able to do
- Set up a clean separation between music and personal finances
- Understand why mixing them costs you at tax time
- Know what a business entity does and does not change
- Ask an accountant the right question for your country
Inside this lesson
- 1The minimum
- 2Entities
In the app
Take this lesson in the LUCY app
Open it in LUCY and the lesson rewrites itself around the music you make, reads itself aloud while you work, and answers questions about your own releases. Free with your account.
- Rewritten around your genre and where you're at
- A coach that can see the releases in your account
- Narrated — put it on while you work
- A badge for the track when you finish it
Start this lessonFree with your LUCY account · opens the app if you have it
Don’t have it yet?