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Tony
Your site is so great, it makes researching the business sooo much easier having all the info in one place! thankyou thankyou thankyou.
Amada, aspiring actress, Sydney, Australia

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Hi Tony!
Most people don’t even take the time to tell a person how to reach their goal. I want to thank you for everything and for responding to my messages. Sometimes I just test people to see if they really care about my career and you do. You can continue to send me some tips on how I can accomplish my goals, because you inspire me a lot. Thank you for caring.
Jeffrey, Dallas, TX

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Hi Tony!
Just wanted to say that this site is FANTASTIC! It's helped me quite a bit and it's now my #1 bookmarked item, which means I'm going to be visiting here regularly :) Thanks again,
Rob, aspiring actor, Canada

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Hi!
I absolutely love your site - it's SOOOO helpful and very impressive!
I am a frequent visitor and have signed up for the newsletter, plus I think it's so good I have recommended it to all my acting friends! Thank you for creating such a wonderful website!
Mischa, UK

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Wow Tony! I would just like to comment on how much you have affected my life.
First of all, any questions I have are answered extremely fast, and not only that, you give me a very helpful answer every time. Also, by reading your newsletters, I obtain just the right information that I need to succeed in the acting business. I am so happy I discovered your site, and I hope you know how much we actors appreciate you. Thanks again, and I can't wait to read your next newsletter!
Laura Doukas, Actress

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Tony,
I did what you said and…I got two interviews with two agents! Thank you! Sorry but can I ask you…how do I prepare to go meet the agent? What do I have to do?
Marsha P., New York, NY, USA

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This site has taught me a lot that I needed to know without dragging me all over the place.
Lauren, actress, Atlanta, GA

Tax Advice for Actors

Tax advice for actors: A mini actor tax guide

Filling out your tax returns properly is, aside from fulfilling one of your requirements as a law-abiding citizen, all about getting the most out of your money. What does that mean? It means that by knowing the tax laws and what you may and may not deduct, can make all the difference. It could make the difference for example for you being able to take another acting class this year, getting new headshots, doing something else you need for your acting career or even just being able to take a nice vacation.

Many actors waste a lot of money each year simply because they are not informed about exactly how to fill out their tax forms and what they can write off or deduct from the taxes they need to pay.

This is also true for the parents of child actors as there are laws stating that minors must file tax returns as well for their earned and non-earned income if above a certain amount.

Here is some more taxt advice, some things you need to know and that could be possible write-offs when filing your actor taxes, your income tax return.

  • Your filing status
  • Your exemptions
  • The difference between w-2’s and 1099 income
  • Which earned income credits you qualify for, if any

Which professional expenses are deductible such as:

  • Moving expenses
  • Health insurance
  • Profit from self-produced productions
  • Professional training including acting classes, singing, acting career classes, etc.
  • Clothing including costumes
  • Fees & Commissions (Agents, managers, etc.)
  • Travel-related and transportation expenses, including mileage, taxi, train, subway, etc.
  • Meals & Lodging
  • Office supplies and expenses
  • Promotional expenses including your actor website, headshots, post cards, etc.
  • Professional services to include resume services, photo shoot, reproductions,
  • Vehicle expenses
  • Medical and dental expenses
  • Charity & donations
  • Other taxes you file
  • Earned income credits
  • IRA accounts and taxes

With regard to tax advice, these are just some of the many things you need to know when you pay your actor taxes.
In the Acting Career Quick Start Home-Study Course we go into a bit more detail about tax advice and where to get it and give participants a list of 50 possible expenses that actors can deduct.

My advice would be to hire a qualified tax accountant to do your taxes the first time around when you have a year in which you worked a pretty good amount. But don’t be fooled. Even if you hire a tax accountant, you still need to prepare well for your meeting with him/her.

This is some of the best tax advice I can give you. Here are two things you will want to do to be able to get the maximum benefit out of your tax consultant and save as much money as possible, which really means paying the least amount of taxes possible.

  1. Keep good records of everything you earn and of everything you spend.
  2. Keep all your receipts for everything you spend while travelling to and from work (acting jobs), while you are working and anything you do to prepare for your acting job.

If you do those two things, you should be in a good position to maximize your benefit of having a tax consultant. Also, knowing what you can and cannot deduct can save you an embarrassing and time-consuming IRS audit.

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