GKN Weekly Update 2/22/10
Well, it’s that time of year: TAX TIME!!!
I’m going to see my accountant this afternoon to get my taxes done. So, for those of you who’ve never filed your taxes as a performance artist, let’s cover the basics…
Most of the time, actors and voiceover talents don’t have their taxes taken out from their paychecks. They issue W-9 forms to their clients and get 1099 forms at the end of the year. You should get one from every client who paid you more than $600 last year.
You’d be amazed at what you can write off! Among other things, I track mileage, tolls, parking, mailings, office supplies, and fees such as Voice123 membership and PayPal fees. This stuff adds up quickly!
If you work from home and have a designated office space/recording area, you can write off a % of your rent/mortgage. It’s based on square footage used as office space.
TIP OF THE WEEK: I strongly recommend setting up a quarterly estimated tax payment plan. That way you won’t have to pay your taxes in one lump sum come April 15. Pay around 10-20% of your income each quarter. Trust me, it eases the pain when you have to pay up!
QUOTE OF THE WEEK: Be a vigorous dancer. However, you’re under no obligation to join a conga line. Walker Lamond
STUFF!: Please go see “Transition” (the film I was the Assistant Director for) at the 6th NYC Downtown Short Film Festival Audience Choice Screenings on Thursday, February 25. It will be one of four films screened that evening and the films with the most votes wins a slot in a film festival! Tickets are sold out but I may be able to wrangle some for you if you want to go. Let me know…
Have a great week!