Happy Tuesday! Members of my Get It Done coaching group have been asking about this topic, so this week I’m just diving right in: taxes.
A lot of actors have been worried about the new tax law that went into effect on Jan 1. To put it very simply, in lieu of being able to deduct business expenses as an individual, we get a higher standard deduction. But as actors, between headshots, marketing materials, acting classes, coachings, audition mileage, we incur a LOT of expenses before we ever start making any money, and normally we’d be able to deduct these expenses from our taxes. This isn’t the case anymore. BUT. Before you freak out, watch this week’s #GuruTips. I share a resource that can hopefully provide a little more insight to this hugely important topic.
Is this new tax law a problem for actors? Well… it may or may not be. Get a free resource list from @ActResourceGuru that sheds some light on the topic! #actorslife #workingactors
I know it’s confusing. We’re all in the same boat, but it’s likely that unless you’re making a living solely as an actor, this doesn’t affect you. Remember, none of this is official tax advice! Be sure to consult a tax professional who can answer your questions in more detail.
Hopefully this free download can help clear some things up. It contains resources and interviews that have helped me a TON, and I think they’ll help you too.
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