Entertainment Industry Income tax help

Entertainment Industry Income tax help

Every working Entertainer in the US is required to file his or her income tax returns on time and this means going through every receipt and transaction made throughout the previous year to make sure that everything is properly and accurately reported.

Unfortunately, filing your income tax return on time is a necessary hassle if you don’t want to be hounded by the IRS for neglecting your duties. Entertainers should obtain income tax help from a tax expert as an enrolled agent to make this much easier for you.

Income tax help for Entertainers can come in several forms. These days, you can find a number of software dedicated to helping taxpayers get their returns in order. There are also applications that are designed to calculate your tax dues and also provide you with easier ways of reporting deductions and income for the year.

Get a quick and free tax evaluation at 877-788-2937.

Income tax help for Entertainers mostly come from experienced tax professionals. Enrolled Agents, CPAs and tax attorneys usually offer income tax help to high-income entertainers and businesses who may need more help in reporting complicated transactions related to their tax returns. An experienced tax professional will make sure that everything is accounted for and that the IRS will not find any reason to doubt the credibility of the data that you have presented in your income tax return.

If you’re a low-wage earner, you can also get income tax help free of charge through a local taxpayer assistance center. However, slots tend to fill up quickly so make sure to schedule an appointment as early as possible. There are also universities and non-profit organizations that establish tax clinics during the tax season to offer assistance to those who may be encountering tax problems with the IRS.

Going for professional services

Hiring an enrolled agent or a certified public accountant for Entertainer income tax help is the best way to survive the taxation season unscathed. It takes the load off your shoulders because you will have someone else to help you file the right documents and fill out the forms correctly.

It’s important to note that certified public accountants and tax lawyers are only allowed to operate in the state where they are licensed. If you have businesses or transactions outside the state, you may not be able to obtain proper representation with your local accountant. On the other hand, an enrolled agent is allowed to provide income tax help in practically every state. This is why going for an enrolled agent for income tax filing assistance can be a wiser move.

Tax guidelines for the entertainment industry

Here are a few tips on filing your income tax return:

Make sure to gather all your pertinent tax documents long before the deadline for filing for this year. This will include your Form W-2 as well as 1099 forms as they apply. You will also need to have other documents with you such as gain/loss reports for investments that you have sold or obtained during the previous year, as well as your summary of tax deductibles.
Set aside some time to focus on your tax return. Schedule an appointment with your enrolled agent in advance to get this settled. You might want to do this as soon as possible because your tax pro is going to be really busy as the deadline looms near.
You might also want to note the important dates surrounding the filing of income tax returns. Mark the deadlines on your calendar so you don’t forget them.

For entertainment income tax help, contact Mike Habib, EA. Mike Habib is a Los Angeles Enrolled Agent who can help you get your income tax return properly prepared, or resolve any tax problem. Contact us at 877-788-2937 through this website for more inquiries.

Music Related Links – Entertainment

Billboard.com
Billboard is for everyone doing business in, or with, the music and video industries.

Music Industry News And Events – Chart Attack
Chart Attack is a publication that follows the Canadian Music industry.

Pollstar
For over 25 years, Pollstar has provided music business professionals with worldwide concert tour schedules, ticket sales results, music industry contact directories, trade news and unique specialized data services.

American Federation of Musicians (AF of M)
The American Federation of Musicians of the United States and Canada unite professional musicians through their Locals.

American Guild of Musical Artists (AGMA)
The American Guild of Musical Artists (AGMA) is a democratic union, governed by its members.

The Songwriters Guild of America
The Guild takes a stand on every issue of importance to songwriters and the music industry in general, including home taping, source licensing, derivative rights, author’s moral rights, the deductibility of business expenses, compulsory license, and copyright registration fees.

Grammy.com
The founding members of the Recording Academy wanted to recognize and celebrate the artistic achievement of not only talented musicians and singers but also important, behind-the-scenes contributors such as producers and engineers.

Recording Industry Association of America (RIAA)
The Recording Industry Association of America is the trade group that represents the U.S. recording industry.

National Music Publishers Association/Harry Fox Agency
Currently representing more than 600 American music publishers, NMPA has worked to interpret copyright law, educate the public about licensing, and safeguard the interests of its members.

National Association of Broadcasters (NAB)
The National Association of Broadcasters is a full-service trade association that promotes and protects the interests of radio and television broadcasters in Washington and around the world.

American Society of Composers, Authors and Publishers (ASCAP)
ASCAP is a membership association of more than 120,000 U.S. composers, songwriters and publishers of every kind of music and hundreds of thousands worldwide. ASCAP protects the rights of its members by licensing and distributing royalties for the non-dramatic public performances of their copyrighted works.

Broadcast Music Inc. (BMI)
BMI is an American performing rights organization that represents approximately 300,000 songwriters, composers and music publishers in all genres of music. The non-profit-making company, founded in 1940, collects license fees on behalf of those American creators it represents, as well as thousands of creators from around the world who chose BMI for representation in the United States.

SESAC Inc.
SESAC was founded in 1930, making it the second oldest performing rights organization in the United States.

Get a quick and free tax evaluation at 877-788-2937.

Motion Picture Related Links – Entertainment

Academy of Motion Picture Arts & Sciences (AMPAS)
The Academy of Motion Picture Arts and Sciences is a professional honorary organization composed of over 6,000 motion picture craftsmen and women.

American Film Institute (AFI)
The American Film Institute (AFI) is the nation’s preeminent arts organization dedicated to advancing and preserving the art of the moving image. Since 1967, AFI has served as America’s voice for film, television, video, and the digital arts, with innovative programs in education, training, exhibition, preservation, and new technology.

Independent Film & Television Alliance
The Independent Film & Television Alliance ®, formerly known as the American Film Marketing Association (“AFMA®”), is the trade association for the independent film and television industry .

Association of Film Commissioners International (AFCI)
The Association of Film Commissioners International acts as a liaison between the production industry and member film commissions, provides assistance in the development of film commissions globally, and other services for its members.

Independent Media Arts Alliance – Canada
Membership is open to any non-profit organization in Canada whose mandate is to encourage, promote and facilitate the independent production, distribution and exhibition of films, videos and electronic media works.

Motion Picture Association of America (MPAA)
The Motion Picture Association of America (MPAA) and its international counterpart, the Motion Picture Association (MPA) serve as the voice and advocate of the American motion picture, home video and television industries, domestically through the MPAA and internationally through the MPA.

National Film Board of Canada
Created in 1939, the National Film Board of Canada (NFB) is a public agency that produces and distributes films and other audiovisual works which reflect Canada to Canadians and the rest of the world.

Box Office
Box Office is a publication focusing on the movies, film, movie stars, theatre, and the film industry.

Directors Guild of America
The Directors Guild of America represents more than 12,000 members working in U.S. cities and abroad. Their creative work is represented in theatrical, industrial, educational and documentary films, as well as, videos and commercials.

Hollywood Reporter
Hollywood Reporter is a publication that provides current entertainment news in film, television, music, international, and web/new media.

Get a quick and free tax evaluation at 877-788-2937.

Guilds and Unions Related Links – Entertainment

AFL-CIO American Federation of Labor
The AFL-CIO’s mission is to enable working people to have a voice on the job, in government, in a changing global economy and in their communities.

AFTRA National Office
The American Federation of Television and Radio Artists (AFTRA) is a national labor union affiliated with the AFL-CIO. Its headquarters are in New York City and there are 36 local offices throughout the country.

Directors Guild of America (DGA)
The Directors Guild of America represents more than 12,000 members working in U.S. cities and abroad. Their creative work is represented in theatrical, industrial, educational and documentary films, as well as, videos and commercials.

International Alliance of Theatrical Stage Employees (IATSE)
The IATSE is the labor union representing technicians, artisans and craftspersons in the entertainment industry, including live theatre, film and television production, and trade shows.

Motion Picture & Television Fund
To enrich the lives of people in our Southern California entertainment community by continuously evolving to meet their heath and human services needs.

Radio and Television News Directors Association & Foundation
The Radio and Television News Directors Association & Foundation promotes excellence in electronic journalism through research, education and training for news professionals and journalism students.

Screen Actors Guild
The Screen Actors Guild and the people who represent it have become a powerful voice for performers. The Guild has come a long way over the years with the establishment of 20 distinctive branches around the country all serving actors.

SAG Pension & Health
The website for members of the Screen Actors Guild regarding their pension and health benefits.

Society of Singers
The Society of Singers is a nonprofit 501(c)(3) organization established in 1984. It is a group of concerned individuals devoted to addressing the needs of professional singers worldwide.

Women in Film
Women In Film’s purpose is to empower, promote, nurture and mentor women in the entertainment, communication and media industries to achieve their highest potential through a network of valuable contacts, educational programs and events.

Writers Guild of America
The Writers Guild of America, made up of two unions – the Writers Guild, East and the Writers Guild, West- brings together some 11,000 professionals who are the primary creators of what is seen or heard on television and film in the U.S.

Get a quick and free tax evaluation at 877-788-2937.

Television Related Links – Entertainment

Academy of Television Arts & Sciences (ATAS)
The Academy of Television Arts & Sciences – founded one month after network television was born in 1946 – is a non-profit corporation devoted to the advancement of telecommunications arts and sciences and to fostering creative leadership in the telecommunications industry.

Association of Independent Commercial Producers Inc. (AICP)
Founded in 1972, by a small group of television commercial production companies concerned with a single issue, today’s AICP has grown to represent exclusively, the interests of United States companies that specialize in producing commercials on various media – film, video, computer – for advertisers and agencies.

Canadian Association of Broadcasters
The Canadian Association of Broadcasters (CAB) develops industry-wide strategic plans, works to improve the financial health of the industry, and promotes private broadcasting’s role as Canada’s leading programmer and local service provider.

Corporation of Public Broadcasting
CPB, a private non-profit corporation created by Congress in 1967, is a leader in public broadcasting’s transition to digital educational and programming services for the American people.

Hollywood Radio & Television Society
The Hollywood Radio and Television Society is an organization of West Coast executives from the networks, stations, studios, production companies, advertisers, ad agencies, cable companies, media companies, legal firms, publicity agencies, talent and management agencies, performers, services, suppliers and allied fields.

NATPE- National Association of Television Programming Executives
NATPE’s mission is a commitment to furthering the quality and quantity of content, which means offering the wealth of our resources and experience to every content creator, no matter the medium.

Broadcasting & Cable
In print for almost 70 years, Broadcasting & Cable covers the television and radio business for the field s decision-makers. Along with its continually updated web site and daily fax newsletters, Broadcasting & Cable tracks developments in law, regulation, finance, programming, advertising and technology.

Hollywood Reporter
Hollywood Reporter is a publication that provides current entertainment news in film, television, music, international, and web/new media.

Federal Communications Commission (FCC)
The Federal Communications Commission (FCC) is an independent United States government agency, directly responsible to Congress. The FCC was established by the Communications Act of 1934 and is charged with regulating interstate and international communications by radio, television, wire, satellite and cable. The FCC’s jurisdiction covers the 50 states, the District of Columbia, and U.S. possessions.

Get a quick and free tax evaluation at 877-788-2937.

Theatre Related Links – Entertainment

Actors’ Equity Association
Equity negotiates minimum wages and working conditions, administers contracts, and enforces the provisions of our various agreements with theatrical employers across the country.

Society of Stage Directors and Choreographers
The Society of Stage Directors and Choreographers is a national independent labor union representing members throughout the United States and abroad.

Get a quick and free tax evaluation at 877-788-2937.

If you have received an “Intent to Levy” letter or a “Notice of Levy” letter from the IRS then you cannot afford to wait any longer! Do something to resolve your tax debt. It makes far more sense, and will probably be less costly in the long run, to resolve your tax problem with the IRS now, rather than dealing with the potential embarrassment and financial burden of having your employer garnish and levy your wage paycheck or your bank levy and freeze your bank account after receiving an IRS levy order to withhold funds from your bank account or your paycheck.

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