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March 20th, 2006, 02:52 PM
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#1 |
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Major Player
Join Date: Nov 2004
Location: St Louis, MO
Posts: 227
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"Writing it off on my taxes"
On a movie I worked on the producer was sure to get reciepts for everything. Reason being it is somehow possible to create a one-man production company and write things off for taxes.
I'm an HR-Block kind of guy and was never good at doing taxes, can someone explain what this producer was doing?
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(insert long list of expensive stuff) Last edited by Jeff Miller; March 20th, 2006 at 04:55 PM. |
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March 20th, 2006, 03:08 PM
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#2 |
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Major Player
Join Date: Nov 2005
Location: Jupiter, FL
Posts: 565
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If you work as an independent contractor you can write off things such as meals, gas, mileage and so on. Talk to your accountant about it and they will tell you in more detail what you can and can't write off. I worked as an independent contractor last year and was able to write off many things related to my work. I also formed an L.L.C. this year. Not too bad in Florida. It cost me about $500.00 to form the company. This way you can write off everything related to your business/work. I am the only person working for my company at this time, so to answer your question yes you can do this.
Also check out www.mycorporation.com. It's fairly cheap to incorporate and there are tax advantages to doing so. Hope that helps. Mark Bournes Shark Video Productions |
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