WE ARE EXPERT IN SAVING ACTORS MONEY.
our expert creative industry tax knowledge cannot be beaten.
Actors are unique when it comes to the world of taxes. We specialize in the acting profession, providing advice on the special tax rules that apply to individual actors, groups of performers and companies.
With over 10 years of experience working with thousands of actors, we are truly expert in your field. We offer friendly, easy to understand advice and support that cannot be beaten.
25% OFF TO MEMBERS OF SPOTLIGHT, MANDY NETWORK, EQUITY AND OTHER ORGANISATIONS.
Actors' Expenses and Deductions
One of the first steps that we will take when looking at your accounts is ensuring that you are claiming absolutely every expense you are eligible to as an actor.
Actors have a number of tax deductions that are unique to any other industry.
Below we have put together a list of some of the expense you are entitled to as an actor.
Clothing can be an extremely useful expense to claim on your tax return. As an actor, you almost definitely spend some of your income on work-related clothing, whether it be clothing for auditions, shoots or rehearsals.
Clothing is definitely one of the more obvious expenses to claim. However for a smooth and painless tax-filing season every year, it is vital that you are aware of your entitlements when claiming this expense. Many actors are subject to penalties and hold-backs due to overclaiming.
USE OF HOME AS AN OFFICE
Use of home as an office is an expense that all too often missed out by actors. If you use your home to apply for auditions, rehearse a script or any other work-related uses you are entitled to claim this expense.
You are able to claim a percentage of your household bills for your use of home as an office.
Our Client, Kurt Egyiawan in the “Safe as Houses” episode of THE EXORCIST
WHY AN ACTOR'S TAX IS NEVER STRAIGHT FORWARD
As actors, there are many facets to your income and expenditure, which differ incredibly from those of, say, a plumber or even a writer. This means filing tax returns for actors can be a laborious process.
'WHOLLY AND EXCLUSIVELY'
Legally, taxes claimed must be 'wholly and exclusively' for the purpose of work. However, the IRS view actors expenses as a very 'grey' area. For example, many of an actors expenses will be part-work, part-personal related and therefore will need to be apportioned.
Ultimately, as with many other creative professionals, everything an actor does can be related to their work. You have to know what is going on in the world of theatre and television and must subscribe to magazines, attend social gatherings, network events and not to mention trips to cinema showings. However, as with all matters tax, actors need to tread carefully when filing a tax return.