Registering a Band as a Business

[the_only_singer]

http://www.music-law.com/bizofband.html

Hmmm...seems pretty interesting. I might just have to do that. I have had quite a bit of experience in the business world but for some reason this idea never really occured to me.

Thoughts?

[TravisBarkerrules]

Seems to good to be true and more complicated than what it says.

[the_only_singer]

Wow, someone finally responded.
Well, it definately is and will be more complicated. Nothing is as easy as it sounds in text. I have done plenty of business research (though never had any formal business training, though I have helped run a friends business) because I plan on starting a computer repair business soon and hope to own a bar/venue in the future.
I have looked into this a little further, though I haven't talked to my accountant about it yet, and it seems to be partially true.
I believe your band has to make a certain amount of money in a years time to be considered a small business that is eligible for certain tax deductions of greater value. Then of course it will be different for different areas.
There is a lot of steps to it all but I intend on doing what I can. Tax deductions are great and as far as I am concerned it would give your band a certain level of professionalism.

[TravisBarkerrules]

Yeah sounds like thats right. I forgot about the whole you have to make this much money for it to count thing.
But thats cool stuff man good luck starting your business and what not.
Rock On

[the_uber_penguin]

It's much easier in the UK. Just set a business bank account, and the bank take care of the rest.

[Aus_rock_god]

All you need in Australia is an ABN. Tax deductions on strings and instruments is more than welcome.