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Federal Court Considers Blurry Lines Between Artist's Consultant and Business Manager
Business managers often provide a range of financial services to artists that go beyond the traditional bookkeeping and tax-preparation functions of an accountant. A business manager’s services may include, among others: strategizing how and when an artist receives revenues; preparing regular (e.g., monthly) financial flow statements that list income and expenditures; depositing and transferring bank and other funds; tour accounting; investment-planning and tax-planning advice; conducting and/or supervising royalty audits; and advising on estate planning.
What happens when a business manager gets involved in a dispute with one of the artist’s other advisers? A recent example is the litigation between the longtime business manager for rapper Nelly and a longtime consultant who has provided a range of services to the artist that include marketing and promotion, managing Nelly’s touring business and seeking endorsement deals.
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