Finance and Taxes for Musicians

  • Elaine Luttrull, Instructor

In this three-session series, artists will learn about earning more money, saving money, and preparing to pay your taxes (click for more details on each session). Sessions will be led by Elaine Luttrull, accredited financial counselor and CPA.

Making Money in the arts 

"I just need more money" isn't a business plan, even though it can seem like the simplest solution to financial woes. In this webinar, the third of the three-part series, we'll review the portfolio career framework to match your own strengths with opportunities to monetize those strengths. After all, diversifying your income - that is, earning income from a variety of activities - can protect your earning strategy throughout the year. as part of this webinar, participants will:

  • Define starring role, supporting cast roles, and production assistance work in the context of a portfolio career. 
  • Identify strengths and opportunities to monetize those strengths within a portfolio career.
  • Review pricing strategy basics to capture creative value. 

Budgeting to Save

Picture this: You never have to say yes to a project you'd rather refuse, just for the money. Reviewing where your money goes is the first step toward building that level of empowerment. 

As part of this workshop, participants will:

  • Identify obvious (and less obvious) creative and personal costs.
  • Estimate the amount to set aside in short-term and long-term savings. 
  • Estimate the amount of debt payments to cover. 
  • Explore systems to support healthy financial habits.
  • Connect portfolio career options to spending habits.

Planning for Taxes

If it is true that the only certain things in life are death and taxes, this workshop will make navigating one of those things considerably easier. We'll review federal and state income tax basics for musicians, and discuss common deductions claimed by creative entrepreneurs.

As part of this workshop, participants will:

  • Identify ordinary and necessary deductions common to musicians.
  • Review the overall income tax landscape for federal and state filings.
  • Identify records to retain for tax purposes and effective systems for tracking expenses and income. 
 

Series Dates & Times

Thursday, February 4, 11, and 18 | 7-8:30pm

Register by February 4

 

Instructor Bio

Elaine Luttrull

Elaine Grogan Luttrull, CPA-PFS, AFC* is a financial educator and the founder of Minerva Financial Arts whose work builds financial empowerment in creative individuals and organizations through workshops and one-on-one advising. Her workshops have been featured nationally by funders, state and local arts councils, and colleges and universities that serve creative individuals. 

Elaine teaches at the Columbus College of Art & Design, where she served as the Department Head for Business & Entrepreneurship from 2014-2018. Previously, Elaine served as the Director of Financial Analysis for The Juilliard School and in the Transaction Advisory Services practice of Ernst & Young in New York. She is the author of Arts & Numbers (Agate, B2 2013), and she contributed regularly to Professional Artist magazine. She is based in Columbus, Ohio where she serves on the boards of the Short North Alliance, Healing Broken Circles, and the Lark Play Development Center. 

 

Offered
  • Spring 2021
Minerva Financial Arts