In addition to tax returns and detailed income statements, lenders often ask for a profit and loss statement. This may throw you for a loop considering it’s something normally asked of a business not an individual, but in the bank’s eyes you are a business since you are a 1099 contractor!

If you lose your sanity as a musician — especially when music isn’t your full-time career — everything else goes down the drain. The whole thing relies on you taking care of yourself mentally, emotionally, and physically.

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