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  • Unregistered

    #1

    Entertainment

    Are there any expenses that are unique to actor or entertainment people? Do you know a publication to find out this info. I have looked to no avail. Thanks
  • Uncle Sam
    Senior Member
    • Jul 2006
    • 1462

    #2
    Entertainment

    There is probably a Market Segment Specialization Program guide out pertaining to this occupation. I suggest you go through a research library to check on the guides available.
    Uncle Sam, CPA, EA. ARA, NTPI Fellow

    Comment

    • Uncle Sam
      Senior Member
      • Jul 2006
      • 1462

      #3
      Entertainment

      I just checked my CFS Tax Research disc - there's a MSSP guide entitled :
      Entertainment Industry: Important 1040 Issues (4/95).
      Uncle Sam, CPA, EA. ARA, NTPI Fellow

      Comment

      • Black Bart
        Senior Member
        • Jun 2005
        • 3357

        #4
        Interesting question

        I once had a professional rassler (wrestler) for a client. For someone the size of a walk-in safe, he was quite fussy and meticulous -- carefully recording all expenses. He informed me (his professional opinion) that a substantial expense was the cost and laundering of small hand-towels used to soak up the sweat off his brow.

        So -- remember that your clients are working in a sweat-sop. Plan accordingly.

        If that's no help, then round up ten bucks and get this:

        Comment

        • solomon
          Senior Member
          • Aug 2006
          • 1012

          #5
          See IRC 274 and associated Regs.

          Comment

          • sea-tax
            Senior Member
            • Apr 2006
            • 971

            #6
            I once had a want to be actor and I gave him a deduction for an acting coach.

            Comment

            • Bird Legs
              Senior Member
              • Jun 2005
              • 990

              #7
              Theater & Acting expenses

              Have a client right now, wife is in Hollywood getting small parts in movies, commercials,
              etc. Her husband is in Austin,Tx. He told her that if she did not make enough from
              that career to cover at least 80% of her expenses by November, she was coming home.
              She been in Hollywood about 4 1/2 months.
              By the way, what expenses can she deduct? She has rent, food, meals, car expense,
              dues in the actors guild, clothing, cleaning, etc.
              She has gotten parts in different movies.
              Thanks.

              Comment

              • Black Bart
                Senior Member
                • Jun 2005
                • 3357

                #8
                Extraordinary and necessary expenses.

                Originally posted by Bird Legs
                Have a client right now, wife is in Hollywood

                Her husband...told her that if she did not make enough...to cover...80% of her expenses by November, she was coming home.

                what expenses can she deduct?
                If she's only got two months left to make it, she may have to invest in a casting couch.

                Comment

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