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Barry's Accounting Services, Corp.
1852 Flatbush Avenue - 2nd Floor
Brooklyn, New York 11210
(718) 677-4006
Client Update - quarterly newsletter

Music Blogs

Those blogs below have generated rave reviews when they were posted on Facebook. They were shared by many people on Facebook:

*Entertainment:- "The power of your brand"

posted on Facebook (Clem Barry) - 12/23/2016

An Artist or DJ who is 'starting-out' in this industry should quickly capitalize on his/her popularity and think long-term because a sustainable career that will produce MULTIPLE income streams would take time to build. Turn audiences into super fans and start building a sustainable business that would ensure you will continue to make money.

Branding is the marketing tool that successful Artists have used to get booked for concerts, product endorsements, and commercials. Those are the things that generate BIG fees and Ancillary incomes (appearances, sponsorships, in-resident Artist/DJ, etc.), beyond selling music albums. The Artist can also develop and market products that suit his/her brand (products that arguers well with the general public; and receive huge profits from monthly or quarterly recurring incomes on future sales). A professional business manager could help you leverage the power of your brand and ensure you make a lot of money in 2017. Feedback is appreciated. Happy New Year!!!

*Entertainment:- "It's all about the money"

posted on Facebook (Clem Barry) - 01/02/2017

Let's make money in 2017!!! Hell, yeah!!!
I received a phone call from someone in the entertainment industry. If you are in this industry, the context of our conversation would resonate or augurs well with your financial goal for 2017.

How could I make US$1-million performing at events in 2017?

It possible if you have a realistic plan and you get out of your comfort zone. There are Artists like yourself who are paid $1 million per show. How about you doing one of the following?
1) 5 shows at $200,000
2) 20 shows at $50,000
3) 25 shows at $40,000
4) A combination of parts of (1), (2) and (3).


This business is competitive. How do I get booked to perform at those events?

Every business is competitive. Focus on you attributes (competitive advantages) like Talent, Self-confidence, Offering, Connections, etc. You and your business manager must prepare a plan and present it ("Shop It Around") to Booking Agents who would showcase and position your talent to Event Planners and Event Promoters in the industry.


How do I find Booking Agents?

Your Business Manager would have a list of Booking Agents whom s/he does business with; and a list of Event Promoters who have connections to Booking Agents. Are you 'pumped-up' and ready to go? 

*The Entertainment Industry:- 3 Key People

posted on Facebook (Clem Barry) – 11/03/2016

People in the entertainment industry should use the services of at least 3-Key people (besides/apart from their entourage, etc.):-

1) A Booking Agent or Business manager to design a career plan and secure jobs/work for them. (To help them grow and sustain their brand and expand their career). A professional Agent or business manager would have a strong calendar of events on his/her raster of Event Planners and Event Promoters.

2) An Attorney to prepare or review their contracts, advise them accordingly; and help them defend their intellectual property rights (Royalties, Brand, Trademarks, Publishing, etc.) against unscrupulous people.

3) A Tax Accountant with a strong track record to engaged with effective Tax Planning Strategy to minimize your Personal and Business taxes and prepare financial plans and budgets; and organize, monitor and collect incomes/royalties from multiple sources including, international music sales, concerts, touring, endorsements, publishing, etc.; and monitor personal expenses, and long-term investments performances; and prepare their tax returns on time to avoid them paying thousands of dollars in interest and penalty to the government. I know I have 'opened' a can of worms, here. However, this has been my experience working in this industry and hearing/listening to complaints from Artists and DJ's. who have had problems with the IRS.



*Entertainment:- DJ Fees

posted on Facebook (Clem Barry)- 12/28/2016

DJ's, if you feel or believe you were underpaid when the people who hired you received BIG returns on their investment, here are TWO samples of the fees your colleagues are charging:

1) US$60,000 to US$250,000 per night
2) US$10,000 and more per set

Some of your colleagues have earned US$6 million to US$22 million in 2016)

NOTE: If your fee is too low some promoters may not take you seriously no matter how good you are. Let's keep it real. How many times did you undercharge promoters who promised they would hire you again and they NEVER call you back to do another gig? I am just curious.

Review your fee for 2017. A Professional Booking Agent would be able to help you set better prices and get you more lucrative gigs. Don't ignore help from insiders who know the "game". It is usually about SELF-CONFIDENCE and POSITIONING your talent alongside other DJ's in the industry who have the same talent like you but have more notoriety or recognition in the business than you. Hence, they command BIG paychecks. Don't take it personal. It is what it is; so let's keep it real. GOOD LUCK!. Feedback is appreciated.

*Entertainment: Artist Gives Warning

posted on Facebook (Clem Barry) - 01/18/2017

(Artist name omitted):- "I trust no one in the music Industry; and I have always hired a lawyer from day one... They would be like, "Hey, what's up!!?".... I wil be like, "Yeah, right!!  I'll be in the meeting as soon as my lawyer gets here". I may not be the best in math, but I'm an expert when it comes to monitoring and handling my money. However, when you are dealing with millions of dollars from multiple sources it is hard to keep up. That's where I need help....

Clem Barry:- Besided/Apart from hiring an Attorney you should also have a dedicated and experienced Tax Accountant who knows the intricacies of the industry:

1) Someone on your side whom you can TRUST to set-up and effecive Tax Plan, monitor and collect incomes/royalties from multiple sources including, international music sales, concerts, touring, endorsements, publishing, etc.

2) Occasionally, you would have to file lawsuits to recoup your royalties or you may be sued for not paying child support, alimony, etc. Your Attorney would be required to give the judge reliable financial information (including your Tax Plan and Tax Returns) that s/he has obtained from your Tax Accountant. That is how you would win your case.

3) Have your Tax-Accountant prepare an effective Tax Plan for youself and your business. Artists like yourself, on tours, must comply by filing multiple State tax returns. You are also required to file your Federal tax returns and stay out of trouble with the IRS. I am sure you are aware that a lot of people have been sent to prison for not filing their tax returns and paying their taxes. That includes seizure of their assets.

*Entertainment:- Is the industry heartless?

posted on Facebook (Clem Barry) - 04/21/2017

The entertainment industry is like any industry. It is a lucrative industry but it is hard to get in. However, once you get in and command the attention, publicity and big pay checks that come with your contracts and endorsements, you have become a star and a celebrity. Hence, you have arrived. However, maintaining that status isn't easy. You must stay focused, keep a strong fan base, maintain or improve your performances, position on the charts, ticket and merchandise sales, endorsements and contracts renewals. Therefore, you must think strategic in order to remain relevant.

Some people who were Dropped by entertainment companies fell on hard times because they were unprepared for sudden changes in their income and lifestyle. Hence, they labelled the industry heartless and cruel. They claimed that companies in the industry make people "Stars" and "Celebrities" overnight but does not prepare them for when their talent is no longer needed. Shouldn't that be the responsibility of their team (Business Manager, Career Coach, Financial Planner, etc.) that the Artist, Actor, Actress should have assembled in anticipation of this dilemma? If the Artist, Actor or Actress is a child, shouldn't preparation in anticipation of this dilemma be the responsibility of his/her parents or guardian?

Artists, DJ's, Actors, and Actresses are Idepenndent Contractors. They are NOT employees of the music and film companies (Sony, Universal, Time Warner, etc.). Therefore, it is incumbent on them to form their own Corporations and manage their careers like a business; or hire people who know and understand the intricacies of the industry. The music and film companies are in joint-venture relationships with them and provide them with financial support/advances; and access to major networks, mass markets and distribution channels, in exchange for a share in the upside potential (profits) of the joint-venture.


A day in the life of Clem Barry

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