Tax Time! Argh!

It's that time of the year and April 15 is just around the corner!  Did your child or teenage actor book a commercial or even multiple commercials?  Did they work a tv show?   Many people are surprised when their child actor gets a big tax bill or when they see how much has been taken out of paychecks from commercials, tv and film jobs.  And although I am not an accountant or legal advisor in this area I can say there are many things you can do to save on taxes or help get a bit of return on that money that was taken out for taxes.  Of course always get the advise of your accountant or CPA!

I just finished reading a great article that gives some nice tips on potential expense write offs for actors.  After reading this you may want to check with your accountant on what your child can deduct when he/she makes money from professional acting jobs.  Here's the article: Add Up Your Actors Tax Deductions.

It's never to early to get organized in this area even if you haven't made any money yet.  Like the saying goes "Knowledge is Power" and that can result in money power.  Saving receipts and keeping good records can be a lifesaver at the end of the year if your child earned a sizeable income.  It's an exciting time when your child books an acting job and they can even make an adult income, but don't be caught off guard by not knowing the laws relating to actors and taxes.

Happy tax season!  And to your child actors next audition and booking!

Call Robin Lorraine Photography for your child or teenagers next headshot!
Tel: 323-466-0585
robin@robinlorraine.com
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Robin Lorraine Photography Kids & Teen Headshots

Kids & teens headshots are my speciality!  Los Angeles

Robin Lorraine Photography photographs kids and teens of all ages for acting and modeling in the Los Angeles and surrounding area including Orange County, San Fernando Valley, Burbank, Sherman Oaks, Palmdale, Simi Valley, Ventura, Fontana, Riverside Corona, Toluca Lake, Compton, Torrance, Long Beach, Irvine, Foothill Ranch, Wittier, Arcadia, Northridge, Santa Clarita, Arcadia, West Covina and Hollywood!  Child actors, child models, teen actors and models.