Probably a really dumb question but when declaring your earnings for the current quarter, you even declare the percent of your income that goes to your reps? So the 25% of my money I never even see since it automatically goes to Agent/managers/lawyer, I still pay dues on that too, right? Just wanna make sure.
Paying WGA dues
Collapse
Announcement
Collapse
No announcement yet.
X
-
Re: Paying WGA dues
Yep, you pay dues based on your gross income, not net.
If it makes you feel any better, your employers are also contributing to your health and pension based on your gross income, not your net, as well.
That and the WGA health insurance is pretty much the best thing ever, in my experience.
Comment
-
Re: Paying WGA dues
Originally posted by McNamara View PostIt sucks, but yes. And as far as I can tell the payments to agent and manager are not deductible as biz expenses.
(Not to wander too far afield, but one of the benefits of incorporating is that taking a 25% deduction off the top on personal taxes will put you in the most-likely-to-audit pile at the IRS while a personal corp taking those deductions won't register so much as a shrug.)
Comment
-
Re: Paying WGA dues
Originally posted by Deion22 View PostI have a question. You can't use payment to agents/managers as deductions? So you have to take the full tax hit even though you are paying them? I thought you could deduct that?
Comment
Comment