Advice on creating LLC or INC as a screenwriter? Once you have that set up, if you got paid for another position in the entertainment industry aside from writer, can you also have it go through your company (i.e., producing, directing, assistant directing, etc)
Preference on LLC or INC?
I know some advice have been, don't do it until you're making $100+K annually, but what if you're on the cusp of that? Let's say you're sure your option will be exercised next year and you'll get a check for 75k for that script. On top of that, there's a potential another project of your could go some time next year for another 75k or so. Would it be worth it to just create your loan out (llc or inc) at the top of the year then so that you can reap the tax benefits in the event those checks do some later in the year?
Preference on LLC or INC?
I know some advice have been, don't do it until you're making $100+K annually, but what if you're on the cusp of that? Let's say you're sure your option will be exercised next year and you'll get a check for 75k for that script. On top of that, there's a potential another project of your could go some time next year for another 75k or so. Would it be worth it to just create your loan out (llc or inc) at the top of the year then so that you can reap the tax benefits in the event those checks do some later in the year?
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