Charles L. Sussman, CPA
President

Charles Sussman, President and Founder of Sussman & Associates, is a prominent entertainment business manager who specializes in world-wide business and financial management, royalties and tax planning. With over 30 years experience, Sussman has become one of the entertainment industry’s leading financial advisors.

Prior to founding Sussman & Associates in 1994, Sussman had an accomplished career as the managing partner at Prager and Fenton’s California office. During his 15-year tenure with Prager and Fenton, Sussman specialized in accounting and business management. He performed or supervised over 150 royalty and participation examinations in recording, music publishing, infomercial, direct marketing, and motion picture industries. Sussman has acted as litigation support for divorce, accident and royalty cases. He has also testified at the California State Senate Hearings on record company accounting practices.

Sussman is an active member of the American Institute Certified Public Accountants (AICPA), Tennessee Society Certified Public Accountants (TSCPA), California Society Certified Public Accountants (CSCPA), Association of Independent Music Publishers (AIMP), California Copyright Conference (CCC), Academy of Country Music (ACM), Country Music Association (CMA) and the National Academy of Recording Arts and Sciences (NARAS). Currently, Sussman is Chairman of the Outside Audit Committee for MusiCares and the GRAMMY Foundation. He is on the boards of the non-profit organizations Women Rock for The Cure and The New York Restoration Project. He previously served as President and Treasurer of the California Copyright Conference. Sussman chaired the California CPA Society Entertainment Conference in 1990 and served on the California CPA Society Sports and Entertainment Committee from 1985-1994. He is also an alumnus of Nashville’s prestigious Leadership Music program. 

Sussman has been a guest lecturer and featured speaker on royalty, tax and business management at several universities and conferences including: UCLA, University of Southern California, Belmont University, Middle Tennessee State University, California CPA Society, Beverly Hills Bar Association and Tennessee CPA Society. 

Sussman is a Certified Public Accountant who studied at Northeastern University, University of Miami and West Coast University, earning his undergraduate degree in accounting and business. When not working, Sussman enjoys spending time with his family, playing golf and collecting cars.

Sussman & Associates, founded by Charles Sussman in 1994, is a distinguished entertainment Certified Public Accounting firm specializing in international business and financial management, royalties and tax planning. Sussman brings over 30 years experience to his extensive client base, including renowned recording artists, entertainers, songwriters, producers and entertainment industry associations.

The following is a list of the services S&A can provide:

BOOKKEEPING

• Pay client’s bills
• Review invoices for accuracy and payment
• Deposit incoming checks and cash into client’s bank accounts
• Track income that is due
• Payroll functions including filing necessary payroll tax returns and forms
• Apply for credit cards and loans
• Arrange for services such as utilities and telephones
• Arrange approval process for all bills and payments
• Review cash flow and discuss any foreseeable problems
• Prepare monthly cash flow reports for each bank account, detailing all cash receipts and disbursements

TAX AND ACCOUNTING

• Maintain necessary accounting books and records
• Prepare personal and business income tax returns
• Prepare income tax projections as needed to pay required estimated tax payments
• Advise clients on how to set aside the funds necessary to meet income tax liabilities
• Assist with the domestic and foreign tax issues entertainers may encounter
• Review and implement tax saving ideas to minimize tax liabilities
• Assist clients with tax problems such as tax notices, liens and audits
• Prepare budgets
• Review and compare budget to actual

TOUR ACCOUNTING

• Manage financial aspects for touring artists ranging from the largest stadium tours to club tours
• Handle day to day activities such as paying bills, depositing incoming moneys, payroll and dealing with vendors
• Assist in negotiation of vendor agreements
• Prepare and/or assist in preparation of tour budgets
• Provide a comparison of the tour budget to actual
• Update road reports in real time via an electronic system
• Work with record companies to obtain tour support and provide appropriate documentation
• Prepare state tax budgets to reduce state taxes withheld
• Prepare and work with other local professionals to reduce foreign tax liabilities
• Review show settlements, agency commission statements and merchandise statements as necessary
• Prepare a complete financial statement at end of each tour

ROYALTY REVIEW AND ADMINISTRATION

• Full time, in-house experienced royalty administrator
• Review incoming royalty statement for accuracy
• Track due dates of royalty statement and advances to insure timely receipt
• Negotiate and prepare mechanical and synch licenses
• Provide tour set lists to performance rights societies
• Provide cue sheets to performance rights societies
• Negotiate and set up domestic and foreign administration and publishing deals
• Prepare royalty statements for band members, outside parties, co-writers, co-publishers
• Prepare commission statements

ROYALTY EXAMINATIONS, MOTION PICTURE, MERCHANDISE AND PARTICIPATION

• Examine major record labels, independent record labels, music publishing companies, motion picture/television companies and distributers, and merchandise companies
• Review for compliance with the royalty and participation terms of the applicable agreements
• Compile and report questions, interpretations and specific errors occurring due to the complexity of royalty and participation contracts and outdated accounting systems
• Examinations will provide accurate accountings of earnings and underpayments

BUSINESS STRUCTURE PLANNING

• Review the various options for setting up corporations, partnerships and limited liability companies
• Analyze and provide recommendations as to the best type of entity to form for each business activity
• Coordinate with the client’s attorney for the formation of any entity

INSURANCE

• Coordinate with qualified insurance agents to review insurance needs
• Review and compare quotes on the necessary insurance policies
• Review the insurance agent’s recommendations with our clients
• Provide suggestions for minimizing insurance premiums
• Review insurance needs on a regular basis
• Modify insurance appropriately as circumstances change
• File and track medical insurance reimbursements and claims

FINANCIAL PLANNING

• We work closely with our clients to develop realistic financial goals
• Coordinate with investment advisors to find the best investment options
• Review and implementation of retirement plans
• Review and coordinate estate planning with appropriate legal counsel
• Consult on the purchase of major assets such as real estate, automobiles, business’

SUMMARY

We work hard to develop a close business relationship with our clients based on strong communication, mutual respect and trust.

Our clients include up and coming artists as well as established individuals. We have been able to effectively service clients based in various states throughout the country, in addition to international clients working within the United States.

An entertainment CPA firm specializing in International Business Management, Royalties, and Tax Planning for over 30 years.