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Band expenses

#205
vqlt said:
Yes, my first thought is that we are bankrolling her daughters dream that is what makes me leery of this situation. I'm going to monitor the situation closely. Hopefully some of the expenses are tax deductible. Thanks for all the advice
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I have a lot to comment on all of the above.

A) The prices sound realistic provided you are getting quality services. Sure, you could all of the above cheaper but again it depends what the group is after.

B) You keep mentioning the tax deduction. I would advise to talk with a tax accountant ASAP. I don't know how it works in your country but where I live (and I did something similar already) it would make sense to either found a corporation for the band, or at least a personal entity/freelance registration for your son, so that he can file all the money spent on these activities as expenses. IMPORTANT: In that case in order to get tax deductions you would have to pay taxes, which means that if the entity does not generate enough income (aka taxable income) you won't be seeing any money coming back.

C) The fact that band generates small to zero revenues is not necessarily bad. They are obviously viewing this as an investment. Naive? Perhaps, but I am sure you have heard all these stories about those early investors of Google, Apple, Windows etc.

D) I think the second most important thing to meet with the manager and ask her why this plan of action has been chosen. If you do not get any/enough/satisfactory answers, then perhaps you should let your son know that this will probably go very bad down the road.
 
#206
mellowinman said:
I'm still trying to get over $3,500.00 for a VIDEO
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Tell me about it. Sheesh, they could shoot an awesome indie video themselves, using an iPhone loaded with that "8mm Vintage Camera" app. They could also EASILY record a professional 4 or 5 song EP for around $1000. Even LESS if it wasn't "professional" and did it themselves.

This all seems suspicious to me. This is 2014, not 1963. We can do so much more OURSELVES these days, right?
 
#208
If you have no ownership in the band then you shouldn't have to invest a cent, the owner of the band should be investing her own money to pay for the musicians, videos etc if the band earnings are insufficient.
If you are expected to invest, your ownership should be proportionate to the percentage you invest.
 
#209
Li Youwei said:
If you have no ownership in the band then you shouldn't have to invest a cent, the owner of the band should be investing her own money to pay for the musicians, videos etc if the band earnings are insufficient.
If you are expected to invest, your ownership should be proportionate to the percentage you invest.
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+1 From what was outlined in the contract she should be paying your son to play in this band as a hired gun.
 
#212
The more I think about this, the more I decide that the OP should absolutely NOT do this, and that he should look at Jive1's advice, and the advice of some others on here. This is a guy willing to invest $ in his son's musical future! He should get him to Band Camp; possibly enroll in some music school; even consider helping the kid put a real band together.

This Disney/Nickelodeon band has little chance of making it; if they do make it, there is little chance of any kind of security or loyalty; and the mom/manager has a lot of @*&% nerve even considering making hired guns pay to be involved.

My advice is RUN FAR AWAY from this. This is bordering on a scam.
 
#213
vbchaos said:
Not if you want to walk around as mom-ager yelling and shouting at everybody for not doing their job. I guess that is where it comes down to
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I guarantee you, "mom-ager," has now become a real word, that will be used henceforth.

It has such wonderful extra meaning, because not only does it juxtapose "mom" with "manager," but it also can imply "mom" and "teenager."

How very, very lovely.
 
#214
mellowinman said:
I guarantee you, "mom-ager," has now become a real word, that will be used henceforth.

It has such wonderful extra meaning, because not only does it juxtapose "mom" with "manager," but it also can imply "mom" and "teenager."

How very, very lovely.
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I really like this term ;)

But too be absolutely honest, I was not me who introduced this very nice and wonderful word.
However it is nice to finally have an US translation for "Eislauf-Mami" (that's the german version - 'ice-skate mother'). I guess the term is about 20 years old when mothers pushed their daughters to become ice-skate stars and were willing to pay everything
 

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