Stephanie Iken, Attorney at Law

Good recordkeeping is one of the least glamorous parts of being a musician. It is also one of the most protective.

Keeping the right records helps musicians get paid correctly, resolve disputes, prepare taxes, and avoid unnecessary stress when questions arise months or years later. You do not need an elaborate system. You do need consistency.

Agreements and Communications

Musicians should keep copies of anything that reflects an agreement, including:

• Contracts
• Emails confirming pay, set times, or expectations
• Text messages or direct messages that confirm terms
• Amendments or changes made after booking

Even short messages matter. Save them in one place rather than relying on search history.

Payment Records

Track all income, regardless of size.

This includes:

• Performance fees
• Door deal payments
• Tips
• Merchandise sales
• Online income from streaming or merch platforms

Keep:

• Invoices or payment confirmations
• Venmo, PayPal, or Zelle receipts
• Cash logs for in-person sales
• Settlement sheets from venues or promoters

Small amounts add up, and missing records complicate taxes and disputes.

Expense Records

Expenses reduce taxable income and help you understand whether projects are sustainable.

Common expenses include:

• Equipment and repairs
• Strings, cables, and consumables
• Travel and lodging
• Rehearsal space
• Marketing and artwork
• Merch production
• Platform and distributor fees

Save receipts, invoices, and confirmations. Digital copies are fine if they are clear and organized.

Merch and Inventory Records

If you sell merchandise, track:

• What items you sell
• How many units you have
• Cost to produce each item
• Sale price
• Where items are sold

Inventory tracking does not need to be perfect. It needs to be reasonable and consistent.

Songwriting and Copyright Records

Keep records related to creative ownership:

• Songwriting splits
• Co-writer agreements
• Registration confirmations
• Dates of creation and release
• Producer agreements

Clear records prevent ownership disputes and royalty confusion later.

Band and Business Records

If you operate as a band or business entity, keep:

• Band agreements
• Ownership percentages
• Bank account records
• Internal payment splits
• Decisions affecting ownership or access

Mixing personal and band finances creates confusion quickly. Separate records help avoid conflict.

Platform and Account Access Records

Document:

• Who controls distributor accounts
• Who has access to streaming platforms
• Login ownership
• Admin rights for social media and websites

Access disputes often arise during breakups or disagreements.

How Long to Keep Records

Many musicians keep records for at least:

• Seven years for tax-related documents
• The life of a project for ownership-related documents
• As long as a song or recording continues to earn income

When in doubt, keep it.

Practical Tips for Staying Organized

• Use one folder system for everything
• Back up records digitally
• Save confirmations immediately
• Review records periodically
• Do not rely on memory

Simple systems work better than perfect ones.

Final Thought

Records are quiet protection. They support payment, ownership, and clarity when questions come up. Musicians who keep basic documentation give themselves more options and fewer surprises.

Disclaimer
This post is for general informational purposes only and does not constitute legal or tax advice. Recordkeeping requirements depend on specific facts, income levels, and applicable law. Reading this post does not create an attorney-client relationship. If you have questions about recordkeeping, taxes, or compliance for your situation, you should consult a qualified attorney or tax professional familiar with your circumstances.