Tuesday, April 15, 2008

Tax Time

Guess how many W-2's I had this year?

9

Add to that a few 1099's and you've got yourself a real headache. For those who are already bored, lost, confused by all those numbers... A W-2 means they took taxes out, or could have or should have. A 1099 means they didn't. Both report earnings.

As an actor working professionally, you will be paid by a talent payroll company and your wages will be taxed. One benefit to this is that you can, after your one day of work on Medium, file for unemployment. One drawback is that the IRS thinks that you were an employee of a Payroll company for a day, and they're none to happy when you try to explain to them that you are an actor, by definition a perpetually freelance job, and that you give 10% of this income to your agent, and yes you should be able to deduct that, and...

Lost you again, huh? Ok, that's my point. Hire an accountant. Let them deal with this. Because tax laws weren't built for artists but a knowledgeable professional (not H&R Block) will be able to help you write off all that needs writing off. If you should ever go through an audit, as I did two years ago, you'll be damn glad you did. (I beat them, by the way.)

More helpful hints here.


Tuesday, April 1, 2008

Google is Good

You have to love any corporate giant that can play an April Fools Joke.