Actors/entertainers – make sure you get paid through a loan-out corporation, not as a W2 employee! This allows you to deduct expenses like your team and avoid high tax brackets on all income.
Taraji P. Henson said she loses 50% to taxes – but with a proper loan-out corporation, you only pay high rates on your net income after expenses. Deduct team fees, insurance, etc. first!
Fight to use a loan-out company and keep more money. If producers resist, negotiate – offer payroll tax savings for them, you cover your own insurance, etc. Retain control over your pay structure!
Hollywood is struggling – social media stars are the big new talent. Use the tools available to put yourself out there! Feel free to reach out with any biz questions.
