Since details of the GOP tax bill emerged, Actors’ Equity Association has sounded the alarm bell, raising awareness about potential ramifications the legislation could have on the financial habits of actors. Now, the nation’s union for stage actors and stage managers is offering a touring seminar to help members unpack the impact of the legislation and plan for financial stability as the bill becomes law.
The workshops, led by Equity Treasurer, Sandra Karas, were designed to help union members learn best practices for organizing records, preparing for audits, and understanding the shifting rules for the tax-filing process.
As the GOP bill was passing through Congress, Equity unleashed its activist wing to lobby against the bill’s passage. The most dangerous shift in the new bill, Equity contended, would be that actors would no longer be able to itemize deductions.
Itemized deductions allow individuals to repurpose the tax charges associated with industry-related costs. For example, for years, actors were able to “write off” union membership, stage makeup, networking meetings, and even subscriptions to actor-specific resources like Backstage from their taxes. Year after year, freelancing actors
The original article can be found here: http://feedproxy.google.com/~r/backstage/News-Features/~3/wWYTkoGffSw/
Powered by WPeMatico