Logistics of Getting PAID For Music

[skie]

I was recently offered a non-exclusive publishing deal for a song. About to sign the contract. This is the first check I would be receiving and I was wondering do I need to start an LLC or some kind of official production company and make that the payee or can I use my first and last name and deposit into my personal account? I don't want to get screwed over tax implications. Would love to hear from anyone who collects checks for their music. Thank you!

[aeox]

I'd like to know this as well!

[QVprod]

You can just use your own name. Make sure you’re signed up for a PRO. As far as taxes, you’ll be personally liable for them. Setting up a company can be helpful regarding how taxes are handled (ie I’m no expert on that) as you can pay yourself as an employee, but you and your company would still be responsible for some taxes. I don’t believe it’s any different from any other freelance work.

[skie]

You can just use your own name. Make sure you’re signed up for a PRO. As far as taxes, you’ll be personally liable for them. Setting up a company can be helpful regarding how taxes are handled (ie I’m no expert on that) as you can pay yourself as an employee, but you and your company would still be responsible for some taxes. I don’t believe it’s any different from any other freelance work.

Thank you. Dumb question but what is a PRO?

[QVprod]

You can just use your own name. Make sure you’re signed up for a PRO. As far as taxes, you’ll be personally liable for them. Setting up a company can be helpful regarding how taxes are handled (ie I’m no expert on that) as you can pay yourself as an employee, but you and your company would still be responsible for some taxes. I don’t believe it’s any different from any other freelance work.

Thank you. Dumb question but what is a PRO?

Performing Rights Organization. In the US we have BMI and ASCAP.

[skie]

Thank you. Dumb question but what is a PRO?

Performing Rights Organization. In the US we have BMI and ASCAP.

Oh ok gotcha we got that covered already thank you sir.

[skie]

Anybody know if $150 for a contract review from a legitimate entertainment lawyer is fair? Seems to be.