Should Your Work Be Protected By An LLC?
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Recently Observer posted on a topic well worth considering – artists forming limited liability corporations (LLC) to shield their personal assets from being subject to lawsuits. By separating personal assets like home, car, personal bank accounts, etc., from the entity controlling the ownership and production of professional work, the personal assets are protected from lawsuits due to injury due to a sculptural piece falling, claims of copyright violations, breach of contract etc. Similarly, personal assets ...
Important Financial Management Elements of a Guest Artist Contract
It’s spring, so your artistic operations team might be in the thick of drafting and sending contracts to next season’s guest artists. Regardless of your contracting cycle or when you read this article, here are four important elements of a guest artist contract that your finance team will appreciate having included. Disclaimer: What is a blog post about a legal or financial topic without a disclaimer? This is not legal advice. You should not be ...
Keeping Your Books Audit Ready
For arts managers outside the finance team, the idea of an audit may seem either terrifying or mundane. Even some inside the finance teams, of organizations of all sizes, the annual external audit process can consume a significant portion of staff time and mental energy for several months of the year. The external audit process results in a document known as the audited financial statements, which provides a professional opinion that the organization’s accounting records ...
IKR? I'm keeping an eye on it and if Chrome releases an update that returns the ability to adjust the…