Taking an accounting degree to the music industry

Patrick Templeman graduated from the Fisher School of Accounting with a passion for accounting and the music industry. Today, he blends those two passions together as a Managing Director at PS Business Management, where the company provides “concierge level accounting services” to some of the biggest names in music.

The firm does tax prep and planning for artists like The Who, the Arctic Monkeys, Lizzo, Billie Eilish, Leon Bridges, Maggie Rogers and many others, but tax prep is only the beginning of their services. Templeman (BSBA ’98, MAcc ’98) and his team make sure bills are paid, help make sure clients and their business have proper insurance (liability, work comp, equipment, errors and omission, life, and disability insurance), deal with budgeting for tours and records, ensure that tour managers are accountable with money received, help with payroll, account for and analyze royalty statements, and many more responsibilities to help artists achieve financial success.

Some of the responsibilities blend between business and personal. Many clients rely on Templeman’s team to help them budget to purchase a car or a house, then guide them through the process and get them the best financing terms available.

“Any time they want to make a big purchase like a car or a home, they call us,” Templeman said. “It’s a very concierge-level accounting service.”

When his clients head overseas on tour, Templeman leans on his Fisher School experience to make sure their international taxes are handled correctly. He has fond memories of taking an International Tax class with Dr. Gary McGill, currently the Director of the Fisher School of Accounting, during his time on campus.

“I deal a lot with international tax issues, much to Gary’s credit,” Templeman said. “We mitigate international taxes when our clients go overseas to make sure as little is withheld as possible. But all the accounting principles I learned at Fisher are directly applied in what I do. So many basic accounting principles are second nature to me because of what I learned at Fisher and the great education I received.”

When Templeman graduated from the Fisher School, he was set to move to San Francisco whether he had a job or not. He interviewed with some of the Big Five accounting firms to have backup plans in place, but his eyes were always set on the music industry.

His ideal job was at Bill Graham Presents, where Graham started his company as a concert promoter. When Templeman was in San Francisco interviewing with some of the Big Five accounting firms, he received a call from Bill Graham Presents asking if he’d like to interview for a staff accountant position at legendary San Francisco music venues The Fillmore and The Warfield. He got the job, and his passion for music only grew.

After a few years, the company opened The Fillmore in Denver, and Templeman moved there to become a controller for the entire Rocky Mountain region. He worked there for a few years, settling shows at Red Rocks Amphitheatre, the Pepsi Center and The Fillmore, as well as working on budgets and overseeing their financial statements.

Templeman decided he didn’t want to work as a controller or CFO for a large corporation, so he decided to take a job at Madison House, an artist booking and management company. He was doing tour budgets, tax planning and tax reductions for many clients. Templeman discovered how much he loved working directly with clients and helping them get their finances in order.

He later moved to New York and talked to a couple firms in the city. That’s when he met Phil Sarna, who founded PS Business Management. The two immediately hit it off, Templeman joined PS Business Management, and they’ve worked together for 16 years now, officially becoming partners in 2016. 

Templeman and his wife, Lauren, moved to New Orleans in 2015.  He opened a PS Business Management office there, and since then, they have added two daughters to their family, Caoilainn (5) and Ainslee (2). 

“We love the city of New Orleans, and it has proven to be a great landing spot for business, family and community,” Templeman said. “We all proudly cheer on the Gators every fall Saturday amid a sea of Purple and Gold!”