Updated 01/15/2012

ACTORTAX®

Serving the Performing Arts community since 1985  

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Hello and welcome to the newly designed website from ACTORTAX®,

We have simplified the shape and content of this website since the earlier version crashed and burned. This is   now, basically, a one page website from which and through which you can become a client and get everything you need to help us do your income taxes. Or you can just gather information so that you understand taxes that much better. We are available 365, M-F during regular business hours (9 to 5 EST) (PLEASE). We become available  on weekends from February through April ("tax season").

 

Click here for important information concerning self -employed individuals

 

 

BECOME A CLIENT

Navigating this website is quite easy.  

At the top of each page there is a table of contents just like the one shown above. It consists of green buttons and page titles. The titles are somewhat cryptic but do suggest what they are about. Just click on a button below a title and you will be whisked away to the top of that page. At the end of each page is  a BACK TO BEGINNING  link to bring you back to this location so that you will be able to continue your journey on the high road to tax preparation by way of  ACTORTAX®   All active links are in BLUE usually witht he words: CLICK HERE...

 

                                                                                              

 

Getting started:

If you are NEW to this website, we suggest that you  start with our GOALS page or HOW it works and then check out our RATES for service and ,at that point, check out joining our E-MAIL LIST and then REGISTER to become a client.  Of course you can make any other stops along the way like your friendly tax preparer or our history or perhaps even our tax tips page. 

If you have visited this site before,  go any where you like within the site.  Just click on the buttons shown above to choose your starting place.

It is up to you, but please stay a while and look around. We hope you like what you see.

Click here to learn how ACTORTAX works

When you see this       you have reached the bottom of the page you are looking at and you can return to the TABLE OF CONTENTS and visit another page OR you can just scroll down to the next page. Easy peasy....

 

This is David Kieserman, if it makes any difference.           

(Actually it does,  if you use your mouse and click on his nose in B & W pic, or click on the link below the pics. )

                                                                                         

                                         Click HERE to meet your friendly tax preparer

 

Enough chatter!! please get in touch with us if we can be of any assistance to you in terms of your taxes (or your child's taxes if you have an actor or actress living with you under the age of 18) such as preparation and filing, questions, communications from IRS or just plain chatting.   We are here for you if you need anything.

 

 

 

CLIENT REGISTRATION FORM

If you do not wish to become a client at this time but just to join our E-MAIL list, click here to skip this first form

 TO BECOME A CLIENT:.

To become a client, please read over this registration form carefully and then fill out all spaces shown below that apply to you. When completed, click on the SUBMIT button the bottom of the form. This will transmit the button below and send it directly to the ACTORTAX® mailbox where it will be acted upon promptly.

You can choose to snail-mail this form using regular postage To do this "SELECT" the entire page, make a hard copy through your printer, fill it out by hand and mail it with proper 1st class postage to ACTORTAX®, 163 Phila St., NY 12866.  You can also choose to be billed through Pay Pal or attach a check\money order for the refundable) deposit to the form if you mail it.  If you mail this form please mail it to ACTORTAX®; 163 Phila St., Saratoga Springs, NY, 12866

NEW CLIENTS: (please read)  It is important for us to know how you came to contact ACTORTAX®. Please indicate  below how you found us by entering a single word in the URL box shown before sending us this form:  refer; advert; web search; other.

Items marked with ** are required for proper processing. All others are optional at this time..

Please read this agreement carefully before proceeding

By submitting this form, I hereby engage ACTORTAX® to calculate and complete my Federal and home State income taxes and E-file those returns for tax year 2011.  I agree to submit all requested materials to ACTORTAX® in a prompt and orderly fashion. Further, I agree to carefully read all documents submitted to me for my review and approval (if necessary) during the preparation process.  ACTORTAX® agrees to use the information I submit in a similarly prompt, professional and responsible manner within the tax law as published by the IRS.  When the return is completed and ready for my approval, prior to E-filing, ACTORTAX® further agrees to notify me of that fact via a written invoice and a sample of the first two (2) pages of the proposed Federal for my perusal and approval as well as any forms that I am required to sign and return to ACTORTAX®.  When billed, I agree to pay the balance due to ACTORTAX® in a prompt manner via my personal check/money order or by credit card via Pay Pal.  Once I have paid the balance due, my tax return(s) will be E-FILED and I will be notified as to the results of that filing. All materials I have submitted to ACTORTAX® will be returned to me at the expense of ACTORTAX.

I understand that I assume full and final responsibility for the contents of the tax return(s) once I have signed the required Federal e-filing form (FORM 8879 and any other required e-filing forms from state agencies.) All calculations in the return will be based on the figures that I submit in response to the ACTORTAX® questionnaires.

I agree to pay a good-faith (non-refundable) deposit of $60.00 with this submission. This deposit will be subtracted from the final balance for services rendered by ACTORTAX®. My payment method is specified below. I further understand that if ACTORTAX® makes an error of any sort in my tax returns and that error results in additional taxes for me and/or a penalty against me, ACTORTAX® agrees to pay only the penalty charges.

Addenda: 

1. I fully understand that all tax returns prepared by ACTORTAX® will be E-FILED (electronically) directly to the IRS except in special circumstances (i.e. residence out of the country, etc.). If a paper return is requested by the client, there will be a $35.00 surcharge added to the invoice to be paid prior to the E-filing of the return. If the E-filing deadline is missed due to my tardiness in providing information and a paper return is REQUIRED, the same $35.00 surcharge will apply.

2. Finally, I understand that the invoiced amount due to ACTORTAX® for services rendered, MUST be paid in full before my tax return will be E-filed.

Please fill in all spaces that apply to you.

Items marked with ** are required for proper processing. All others are optional at this time..Please fill in all spaces that apply to you.

**Name
Date of Birth (month/day/year)
SS Number ONLY PUT YOUR SS # HERE IF YOU SNAIL MAIL THIS FORM
**Street Address
Address (cont.)
**City
**State/Province
**Zip/Postal Code
**County (not country)
Work Phone
Home Phone
FAX
**E-mail
URL (your website if you have one)

Enter today's date**  

Enter your marital (tax filing) status as S, M, H of H (head of household) or MS (M filing as S).**

Choose one of the following options:**

BILL me for $60.00 non refundable deposit via Pay Pal
Snail-mailed, $60.00 deposit check is attached.
Snail-mailed, bill me for deposit via Pay Pal

Select any of the following options that apply by checking appropriate boxes.**

Received SALARY income (W2) in 2011.
Received SELF EMPLOYMENT. income(1099) in 2011.
Received CASH income for work in 2011.
Received INTEREST and/or DIVIDEND income in 2011.
OWN A COMPUTER WITH ADOBE READER 9 OR 10 INSTALLED.
BOUGHT my residence in 2011.
OWNED my residence before 2011
RENTED my residence during 2011 AND/OR  USED PART OF IT FOR BUSINESS
CHANGED residence (MOVED) over 50 miles during 2011.
TOURED/TRAVELED for career during 2011
Had  MEDICAL expenses during 2011.
INCORPORATED A BUSINESS during 2011.
RENTED PROPERTY TO OTHERS during 2011
Paid/Received ALIMONY during 2011
Received UNEMPLOYMENT $ during 2011
Was GUARDIAN OF MINOR CHILD during 2011.
INVESTED in stock market during 2011
Paid QUARTERLY (ESTIMATED) TAXES to Feds/State in 2011
Received $ from SOC. SEC. ADMIN in 2011
Was 18 years of age or younger during 2011
Provided 50%+ of SUPPORT for another person (adult)  in 2011.
I wish to pay the  FINAL PREPARATION FEE VIA PAY PAL

Suffered a FINANCIAL LOSS caused by theft or some other means not of  my own doing

If I am entitled to a refund for 2011, I wish to have it deposited directly into my checking account and will provide ACTORTAX® with the necessary information to facilitate this kind of deposit.

If I am entitled to a refund for 2011, I wish to have it mailed to me at my home or to an address which I will specify at a later date.

(Return to the top of this form   to check your entries and THEN  click on SUBMIT button.

If you decide not to submit this form, 

and then click on any GREEN BUTTON above or any BLUE  (this is not a link) letters and continue your visit.

to table of contents

 

 

 

E-MAIL LIST SIGN UP

Please fill out this form. You can fill out all boxes or just those that are required. You name and E-mail address will be placed in our E-mail address book for all mailing and notices that we send out. This signup imposes no obligation on you in any way. You can change your E-mail address whenever you need to at no cost or obligation.

When you have filled out this form, scroll down to the bottom and submit the form by clicking on the SUBMIT button. A confirmation page will appear for one final check of the information you are submitting. If ok, proceed to any other page in the website by clicking in the navigation list to your left

There is no obligation involved in submitting this form to ACTORTAX®.

Please provide the following contact information:

All information is optional unless marked Required.

First Name

Required..

Last Name

Required

Street Address

Address (cont.)

City

State/Province

Zip/Postal Code

Country

Work Phone

Home Phone

FAX

E-mail

Required

Select any of the following options that apply:

Please add me to your E-mail address book
Please add me to your snail-mail address book
Please add me to both your E-mail and snail mail address lists

CLICK   HERE TO RETURN TO THE TOP OF THIS PAGE   TO MAKE ANY CORRECTIONS NECESSARY BEFORE CLICKING ON "SUBMIT THIS FORM NOW"

If necessary, go to table of content

 

 

 

ACTORTAX®

Serving the Performing Arts Community since 1985

Since 1985 we have tried to keep our prices for services rendered, competitive and fair. We basically have not raised our fees since 1995. For tax year 2008 we reduced our prices to 1992 levels because of the recession. For 2010 we returned to our regular rates. 

For 2011, we find it necessary to raise our rates, slightly.

TAX PREPARATION RATES

TAX YEAR 2011

Single new Client: $185.00 (base)

Single returning Client:  $170.00 (base)

All clients under the age of 18: $150.00 (base)

Married new client filing jointly:  $210.00 (base)

Returning married client filing jointly: $200.00 (base)

Married new client filing as single: $210.00 ea. (base)

Married returning client filing as single: $200.00 ea. (base)

Returning widow(er) or Head of Household: $200.00 (base)

New widow(er) or Head of Household: $200.00 (base)

N.B. base rate includes a Fed form 1040 w/one schedule and 1 home state return with all forms

E-filing is NOW required for all ACTORTAX® clients but is FREE

FREE direct deposit of refunds

FREE phone and e-mail consultation (all year)

Old fashioned paper return (if required: $35.00 (extra)

Copy of tax return for your files: FREE

Extra schedules beyond 1 in return: $35.00 each

Extra states beyond home state: $85.00 each

Amended tax return: error by client: $125.00 (extra)

Amended return: error by ACTORTAX® : FREE

ACTORTAX®  pays all postage TO client

Client pays all postage to ACTORTAX®

A good faith (non-refundable) deposit of $60.00 is required w/registration

Refer a new paying client and received $35 discount

1-800-366-2829

Sign up by 1/31/12 and receive $50 off final fee

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Become a friend of David Kieserman on FACEBOOK or add TAXBUG1 to your AOL IM, and ask tax questions at anytime...

 

 

 

ACTORTAX®

 Serving the Performing arts Community since 1985

 

Our Services

Hello and welcome to the SERVICES page of the ACTORTAX®  web site.

Was that you who asked, "What do you do at ACTORTAX®?"

Well, we try to save performing artists and others as many tax dollars as possible. 

We also provide free year-round tax advice to our clients who contact us from all over the country and, indeed, the world.

We keep all client records for at least three years as required by the IRS even when a client is no longer a client.

We publish what we believe to be the only bi-monthly Tax Tips from ACTORTAX® Newsletter for the performing arts community in the USA. It is free to clients and costs only $10.00 per year for all others.

We pay for all incoming 800 calls from clients, friends and people seeking information.

We are registered as an ERO (Electronic Return Originator) with the IRS and, as such, we are able to file tax returns electronically for FREE. These e-filed returns yield fast and accurate refunds (usually within 2 weeks instead of six/eight weeks.)

Last, but not least, we prepare tax returns for members of the performing arts community (and others, of course) with care and diligence so that each client pays the lowest tax allowable, saves as many tax dollars as possible and receives the largest legal refund (if one is due).

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We specialize in individual tax returns for employees and self-emloyed subcontractors.

 

 

 

How it works...

 

1. You fill out a coupon and mail it with a good faith deposit (check, money order or credit card) which is subtracted from your final fee... and you are officially a client...(you can attach it to an e-mail message if you know how to create a PDF document).

2. We mail you (via snail mail or printable e-mail) a multi-page questionnaire which you fill out as completely as possible...

3. You mail the forms back to us with all of your pertinent income documents (W2s, 1099, interest statements, etc) but no receipts and/or cancelled checks... We do NOT do "shoebox returns." (a shoebox return happens when the tax payer piles receipts etc into a box, dumps it on a preparer's desk and says, "you figure it out!")

4. From this material, your return is prepared and you are notified (in the form of a letter/invoice again by letter or E-mail) of the results of that preparation... We call or E-mail you if we have any questions about your material and/or situation.

5. You pay the balance due for services (shown on the invoice) and your tax return is filed electronically by ACTORTAX® (if you wish) or filed personally by you, via snail mail (if you wish)...........It's that easy...

Note: If you are to receive a refund, electronic filing (E-file) delivers that refund in about 2 weeks. Regular filing by mail can take up to 10 weeks to deliver a refund)

Note also: Any taxes due are payable to taxing athority by check or credit card. 

 

            Click HERE for our current rates. or HERE for a current sign-up form

                     Click HERE to join our mailing list and receive a free newsletter

                                     Click HERE to go back to the The Table of Contents

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Who we serve..

When ACTORTAX® was started in 1985 ouri first few clients were actors, only. However, as word got around and as we advertised more widely, we began to attract clients .from an ever-growing list of professions. Now we are pleased to say that our clients currently nclude...

ACTORS, TECHNICIANS, DIRECTORS,

CHOREOGRAPHERS, TEACHERS, RESTAURANT

MANAGERS, WAIT PEOPLE, BANKERS

FILM/TV PRODUCERS , STYLISTS, PHYSICAL TRAINERS,

as well as...

STOCK BROKERS, , PLAYWRIGHTS, ATTORNEYS,

VOICE OVER TALENT,

DANCERS, LITERARY AGENTS, EXEC. ASSISTANTS,

SMALL BUSINESS OWNERS, BAR TENDERS,

AND

A THEATRE OWNER/PRODUCER.

These clients are spread over at least - 28 + states,

3 cruise ships,  5+  national tours, & 2+ foreign countries

With ACTORTAX®, you are in

good company!!!

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in the table of contents 

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IRS TAX RATES THROUGH 2012

YOU CAN USE THIS PAGE TO GET A "BALL PARK ESTIMATE" OF WHAT YOUR INCOME TAX WILL BE THROUGH TAX YEAR 2012.  ONCE YOU KNOW THAT YOU CAN STRUCTURE YOUR SALARY AND SELF-EMPLOYMENT INCOMEAND/OR ESTIMATED TAX PAYMENTS) TO BE SURE YOUR TAXES ARE PAID IN FULL BY MID-MAY OF EACH YEAR.   AT THAT POINT  YOU CAN CHANGE YOUR W-4 FORM AND YOUR EXEMPTIONS IN SUCH A WAY THAT YOU WILL GUARANTEE  YOURSELF A REFUND  AT TAX TIME AND OWE NO ADDITIONAL TAXES TO THE FEDS FOR THAT YEAR. (TOO LATE TO DO ANYTHING ABOUT 2011)

The following is a list of the Federal income tax (rates which have recently been extended so as to be in effect until December 31, 2012.  These rates have been the rates since 2001 and 2003 and there is no change for 2010, 2011, and 2012.

There have not been any tax cuts involved in extending these rates nor any tax increases of any sort.

Note: Taxable income is the calculated income after all deductions and personal exemptions have been subtracted.

 

PLEASE NOTE: DURING THE 2012 PRESIDENTIAL AND CONGRESSIONAL ELECTION CAMPAIGN, THERE WILL BE A LOT OF NEWS COMING OUT OF WASHINGTON, DC AS THESE RATES ARE DISCUSSED.  THE RESULTS OF THAT DISCUSSION WILL NOT TAKE EFFECT UNTIL JAN.1 2013 

 

2011 THROUGH 2012 Tax Rate Table

To use this table: find your filing status (TABLE 1, 2 3, OR 4), then find your taxable income range (left column) and then read your tax calculation on far right.

 

Table 1 -Sec.1(a) - Married Individuals Filing Joint Returns or Surviving Spouses  

 

       If Taxable income is...                                            The Tax is

                                                         

                Not over 16,750                                                   10% of the taxable income

                Over $16,750 but not over $68,000                    $1,675 plus 15% of the excess over $16,750

                Over $68,000 but not over $137,300                  $9,362.50 plus 25% of the excess over $68,000

                Over $137,300 but not over $209,250                $26,687.50 plus 28% of the excess over $137,300

                Over $209,250 but not over $373,650                $46,833.50 plus 33% of the excess over $209,250

                Over $373,650                                                     $101,085.50 plus 35% of the excess over $373,650

 

 Table 2- Section 1(b). - Heads of Households  (HH)

      

      If Taxable income is...                                            The Tax is

                                                            

                Not over $11,950                                                10% of the taxable income

                Over $11,950 but not over $45,550                    $1,195 plus 15% of the excess over $11,950

                Over $45,550 but not over $117,650                  $6,235 plus 25% of the excess over $45,550

                Over $117,650 but not over $190,550                $24,620 plus 28% of the excess over $117,650

                Over $190,550 but not over $373,650                $44,672 plus 33% of the excess over $190,550

                Over $373,650                                                     $105,095 plus 35% of the excess over $373,650

 

Table 3 - Section 1(c). - Unmarried Individuals (S)  (other than Surviving Spouse and Heads of Households)

 

       If Taxable income is...                                            The Tax is

                Not over $8,500                                                 10% of the taxable income

                Over $8,375 but not over $34,000                    $837.50 plus 15% of the excess over $8,375

                Over $34,000 but not over $82,400                  $4,681.25 plus 25% of the excess over $34,000

                Over $82,400 but not over $171.850                $16,781.25 plus 28% of the excess over $82,400

                Over $171,850 but not over $373,650              $41,827.25 plus 33% of the excess over $171,850

                Over $373,650                                                   $108,421.25 plus 35% of the excess over $373,650

 

 Table 4 - Section 1(d). Married Individuals Filing Separate Return (MS)

 

       If Taxable income is...                                            The Tax is

                Not over $8,500                                                     10% of the taxable income

                Over $8,375 but not over $34,000                        $837.50 plus 15% of the excess over $8,375

                Over $34,000 but not over $68,650                      $4,681.25 plus 25% of the excess over $34,000

                Over $68,650 but not over $104,625                    $13,343.75 plus 28% of the excess over $68,650

                Over $104,625 but not over $186,825                  $23,416.75 plus 33% of the excess over $104,625

                Over $186,825                                                       $50,542.75 plus 35% of the excess over $186,825

 

If you have any questions about this chart, call 1-800-366-2829

 

 

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Contact Us  or "them".. 

in any of the following ways during regular ibusiness hours (please)

365 days a year...

TOLL FREE: 1-800-366-2829

or at your cost 

FAX: 1-518-587-7809\

E-MAIL: 

actortax@ix.netcom.com

or

 

NEW: Become a friend to David Kieserman on FACEBOOK or make "taxbug1"   

                         a buddy on IM and ask tax questions at any time

To contact IRS: dial 

or on the web:  irs.gov

ON THE WEB VISIT US  @: www.actortax.com (already here!!)

SNAIL MAIL: 163 Phila Street, Saratoga, NY 12866

 

NOTE : If touring or calling from a distant place, please consider the time differential and time your call according to (U.S.) Eastern Time.

 

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 Early sign-up discount $50.00

 11-800-366-2829    

Refer a paying friend: earn $35.00

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UP-TO-DATE TAX NEWS

UPDATED 01/26/12

NEWS ITEM 1

...  for the Self-employed 

There are many benefits that come from being your own boss. If you work for yourself, as an independent contractor, or you carry on a trade or business as a sole proprietor, you are generally considered to be self-employed.

Here are six key points the IRS would like you to know about self-employment and self- employment taxes:

1. Self-employment can include work in addition to your regular full-time business activities, such as part-time work you do at home or in addition to your regular job.

2. If you are self-employed you generally have to pay self-employment tax as well as income tax. Self-employment tax is a Social Security and Medicare tax primarily for individuals who work for themselves. It is similar to the Social Security and Medicare taxes withheld from the pay of most wage earners. You figure self-employment tax using a Form 1040 Schedule SE. Also, you can deduct half of your self-employment tax in figuring your adjusted gross income.

3. You file an IRS Schedule C, Profit or Loss from Business, or C-EZ, Net Profit from Business, with your Form 1040.

4. If you are self-employed you may have to make estimated tax payments. This applies even if you also have a full-time or part-time job and your employer withholds taxes from your wages. Estimated tax is the method used to pay tax on income that is not subject to withholding. If you fail to make quarterly payments you may be penalized for underpayment at the end of the tax year.

5. You can deduct the costs of running your business. These costs are known as business expenses. These are costs you do not have to capitalize or include in the cost of goods sold but can deduct in the current year.

6. To be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your field of business. A necessary expense is one that is helpful and appropriate for your business. An expense does not have to be indispensable to be considered necessary.

NEWS ITEM 2

Online Tax Center Offers Tools and Resources for Small Businesses and Self-Employed 

If you're a small business or a self-employed individual who needs answers to tax questions, educational materials or tools to help you run your business, check out the IRS's Small Business and Self-Employed Tax Center on this website.

This one-stop shop offers extensive resources and online tools to help small businesses and self-employed persons by providing resources such as:.

  • Small business forms and publications

  • Online applications for an Employer Identification Number

  • Employment tax information – federal income tax, Social Security and Medicare taxes, FUTA and self-employment tax

  • Tax-related news that could affect your business

  • Small business educational events

  • IRS videos for small businesses

  • A-Z Index for Business, a fast way to find information

The site provides important federal tax information for all stages of owning a business, whether you’re starting, operating or closing a business.

Other resources available on the IRS website include:

The IRS Video Portal:
Tax questions?  Learn about tax topics through video and audio presentations on the IRS Video Portal.  The video portal contains archived video of live panel discussions and audio from national phone forums, as well as other webinars and video clips.

IRS Audits Video Series:
"Your Guide to an IRS Audit” takes the viewer through the steps of an audit from notification to closing. The video series is composed of scenarios that demonstrate the stages of each type of audit: correspondence, office and field. The scenarios address issues that are common to audits of small businesses.

Virtual Small Business Tax Workshop:
The IRS Virtual Small Business Tax Workshop is an interactive resource to help small business owners learn about their federal tax rights and responsibilities. The workshop contains nine stand-alone lessons that can be selected and viewed in any sequence. The workshop is available online 24 hours a day, seven days a week from any computer. It can also be ordered on CD.

Tax Calendar for Small Business Taxpayers:
The Tax Calendar for Small Businesses and Self-Employed – Publication 1518 – is available online or as a printable PDF file. This 12-month calendar is filled with information on general business taxes, IRS and Social Security Administration customer assistance, electronic filing and paying options, retirement plans, business publications and forms, and common tax filing dates. Each page highlights different tax issues and tips that may be relevant to small-business owners, with room on each month to add notes, state tax dates or business appointments.  You can also download the tax events into your calendar or subscribe to the tax calendar events.  The calendar provides the small business owner with a ready resource for meeting their tax obligations.

NEWS ITEM 3

The IRS has finally approved all forms for filing so tax returns can now be completed and E-filed. This has been the case since January 18, 2012.

iNEWS ITEM 4 

Obtaining Copy of Return or Transcript

The IRS has a new toll-free number for requesting free transcripts - 800.908.9946. You can follow the message prompts, or complete Form 4506T, Request for Transcript of Tax Return, and mail it to the address listed in the instructions. To obtain an exact copy of a previously filed and processed tax return with attachments (including Form W-2), complete Form 4506, Request for Copy of Tax Return, and mail it to the address listed in the instructions, along with a $57 fee for each tax year requested. Copies are generally available for returns filed in the current year and previous six years

News Item 5: This is not new news, but form 4868 (extension) is for the filing of tax return paper work only. If additional tax is owed at the April 15 deadline it must be paid before that date or along with the extension application to avoid late payment penalties when it is actually paid. As always, filing an extension has nothing to do with the deadline for paying the income tax.

News Item 6: The standard deduction has been raised for 2011 along with the personal exemption amount, the college tuition credit, the child care credit, the foreign income exemption amount, the foreign paid tax credit amount as well as the mileage allowance for un-reimbursed business/career travel. You should consult carefully with your tax preparer to be sure you qualify for these items that are all subtractions from your tax return and may help lower your final tax liability and/or raise your expected refund.

News Item 7: Once again there will be no extra charge for the E-filing of tax returns by ACTORTAX® E-filing is getting closer and closer to be required in place of "old fashioned" paper tax returns. It is already required for NY with paper returns only in use for previous years and other special reasons. ACTORTAX® will also NOT charge for the preparation of the form required for a taxpayer calculated excise tax credit on long distance calls. There will be no charge for the calculation of estimated taxes nor the special program that allows ACTORTAX® to calculate and suggest proper exemption numbers and withholding amounts to be entered on the form W4 at places of salaried employment.  (see 8 tidbits in ACTORTAX®Tax tips newsletter)  

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More news to be posted as it becomes available

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ACTORTAX®
Serving the Performing Arts Community Since 1985

MISSION STATEMENT...

Since its beginning in 1985, ACTORTAX® has had a two-part mission which has never really changed.

1. TO SAVE PERFORMING ARTISTS AS MANY TAX DOLLARS AS IS HUMANLY AND LEGALLY POSSIBLE...
It is difficult enough to make a living in the performing arts. It should not be similarly difficult to hold on to as much of such hard-earned income as possible.
AND

2. TO PROVIDE GOOD AND RELIABLE TAX PREPARATION SERVICES TO PERFORMING ARTISTS (and others) AT A REASONABLE COST... ALL YEAR LONG...

We continue to pursue these goals for all returning and new clients. Please consider ACTORTAX® as your tax preparation service in the future. Your consideration is appreciated.
If you are a current client, thank you for your continued confidence in our service
If you are not currently a client, we will be glad to answer any questions that you might have about ACTORTAX®  and/or your personal tax situation.

Call 1-800-366-2829 any time during regular business hours

ACTORTAX IS AVAILABLE FOR YOUR CONVENIENCE ALL YEAR LONG DURING REGULAR BUSINESS HO

 

 

 

 

 

 

 

                 ACTORTAX®

 Serving the Performing arts Community since 1985
 

TAX TIPS FOR YOU...

The content of this page reflects the opinion and experience of your friendly tax preparer. The following are suggestions only... suggestions that have proven advantageous to ACTORTAX® clients since 1985.

Click on any of the following tax tip areas and go directly to the tips that apply to that area: or simply scroll down the page to read those tips in which you are interested. This page will be updated regularly as new tips become applicable.

TIP 1. You can shelter your income from taxes in several ways. These include contributing to a tax deductible IRA, Keogh or 401K plan (at your place of employment) or investing in tax free mutual funds. The ROTH IRA is tax free when you take the proceeds (after age 59) because you pay taxes on these IRAs each year. This is a different kibd of protection. Another way to shelter your income is to buy your "home" and rent it out when you are not using it.

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TIP 2. When setting up your W4 at a job, claim "single" (usually) with one exemption. Instruct your paymester to take a few dollars extra each week at both federal and state levels. The higher the number of exemptions claimed the less withholding is taken and the higher your take-home pay is. You have a smaller paid-in-advance balance and your refund (if you get one) will be smaller.

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TIP 3 Start early (in December at least or earlier) to find the tax professional who is just the right one for you. Go way beyond price in making your selection. Some questions to ask include how long in the business? how many returns each season? availablity throughout the year? approximete or average number of client tax audits? Sign up "the best" as your professional as early as possible. 

 

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TIP 4. If a good part of your income comes from self-employment, you should consider paying estimated quarterly taxes. Your tax preparer will help you  set up a payment plan and calculate how much to pay every three months. 

 

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TIP 5. Procrastinate no further!!. Bear down and get those past-due (undone) tax returns filed ASAP. They MUST be done. They will not just go away. So, do those past-due tax returns as early and as quickly as is humanly possible.

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TIP 6. It is now possible to split your refund, if you are getting one, into a direct deposit to more than one place (account). You can deposit part of your refund into a checking account and another part into an IRA account or regular savings account. Check with ACTORTAX® or your own tax preparer for details. This is only possible if you choose to deposit your tax refund directly into a bank.

 

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Check this page on a regular basis to stay abreast of new tax rules and regulations

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  •     ACTORTAX®

     Serving the Performing arts Community since 1985
  •  

  • FREQUENTLY ASKED QUESTIONS

 

Every tax season and throughout the rest of the year, ACTORTAX® receives a plethora of questions about taxes.

These questions and concerns come mainly via telephone or email.They come from clients, friends, curious taxpayers, agents and even other tax preparers not familiar with the performing arts as a career field.

Here are the 10 most often asked questions and suggested answers. If you have other questions not listed here please contact us ASAP at 1-800-366-2829 or by email at 

actortax@ix.netcom.com

or submit your questions via our "mailing list form" (click mailing list on the left of this page)

Click on any topic in the following list and go straight to that question

 

        Q1.. One of my employers (a friend) says he pays me OFF THE BOOKS. How does that work and what does it mean?

A1....There is no such thing. All payments are on someone's books somewhere. Keep track of these payments and be sure to declare them as income, at tax time. Your preparer will know what to do with these figures. "Off the books" really means that the employer is trying get out of paying his/her share of your self-employment tax which is required by law. This is not in your favor and he/she is NOT your friend by paying your in this manner.  

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Q2..."CLOTHING"   I believe I have to wear suits and good looking clothing to my AUDITIONS and "go sees." Are these deductible as career expenses?

  A2.. Not in the least!! Costumes for a show are deductible ONLY if they cannot be worn on the street. Audition clothing is definitely NOT deductible along with audition "haircuts.". Just forget about it! .

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Q3...What is a TOUR?

A3..A tour is any job that requires you to be away from your home over night (for at least  one night.) If your are working away from home over night, you are on tour! Virtually all expenses incurred while on tour (1 night or 1 year) are deductible for tax purposes..

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Q4..What should I do about MY APARTMENT in NYC (or where ever) while I am on tour?               What if the tour lasts a year? What about if I go on five or six tours? What about in between?

A4.   Keep your living space in your name no matter how long or how often you are away on tour. Do not think you can give your parent's address as your home between tours unless you pay rent there and have your "things" there and actually live there. (vote, register your car, etc).The IRS can disallow all touring expenses as deductions if you cannot prove that you actually live where you say you do.

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Q5...What is the best thing to do with all of the extra money I have since I landed a terrific job with whatever company/show/soap/tour? How can I HOLD ONTO more of it in my take-home pay envelope?

A5...First, open an IRA (regular or ROTH) and promise yourself to add to it every year or as often as is possible. Keep your promise to yourself. Do not buy annuities or fancy life insurance plans. An IRA in a bank is the way to go. Consider buying a condo, a coop or a house of some sort. The best long term investment plan involves owning real estate. Put some money into a high interest medium length Certificate of Deposit or money market account where getting at you money is very difficult to do. Use your head in all money matters and talk to professionals not other performers about investing.

Also, set your exemptions properly on your W4 form at your salaried jobs. Single? Claim 1 or 0. Married? claim 1 or 2. But never claim 8 or 9 even though you are allowed to. If you claim 8 exemptions, you will have more take home pay but may owe additional taxes at tax time.

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Q6...How can I file my PAST YEARS' TAXES without paying a big penalty or going to jail?

A6... You are not going to jail unless you try to perpetrate a fraud of some sort with your tax returns. You may be forced to pay a fine and interest on past due balances but if you are owed a refund for any of the last three years you will get that refund. If you were entitled to a refund for a year beyond three years, you will not get that refund but neither will you be charged a penalty or interest. The best way to file past years is to go to a good tax person and follow his/her instructions, but FILE your past tax returns NOW!!

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Q7... How can I avoid being AUDITED BY the IRS?

A7... Since most audits are random in nature, there really isn't much you can do to avoid one if it going to happen to you. However, the way to avoid having your tax return attracting the attention of the IRS for a "closer look" is to work at controlling the "red flags" that might go up when your return contains some extraordinary material. Keep your deductions within the national limits. Declare ALL of your income no matter how you received it. Keep your exemptions (on the W4 at work) in a proper range (no more than 4 if you are single...1 is better) Be sure you explain all extraordinary entries such as large medical bills or large expenses while on tour. Your tax person should be able to advise you on how to do these things. If you do your return yourself, do it correctly or there is a good chance you will be audited. The IRS has very good computers and a very long memory. 

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Q8... What should I do if I get an AUDIT NOTICE from a tax agency like the IRS or my home state tax people?

A8... Read the letter you receive very carefully. Decide what it is about. Contact your tax person ASAP and he/she will tell you first to send him/her a copy and then to answer the letter in the time allowed by the IRS. DON'T PANIC and don't throw it in a drawer or behind the refrigerator and hope it will go away. It won't. Follow the advice of your tax person as long as that advice is not "send them a check immediately." Also, don't leave the country and don't start using someone else's social security number. (I know peoplewho have done this!!!) Don't ask other taxpayers what to do. Deal with only professionals in the tax preparation business. The IRS and many state tax agencies often make mistakes, lose parts of returns or simply experience computer glitches so any audit letter you receive must be read carefully and understood perfectly. It could be their mistak

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Q9... WHAT ABOUT THE W4 I have to fill out at work? How many exemptions should I claim so that I pay the proper tax but still have some take-home pay at the end of each week?

A9... See question 5, above and then read this answer.

The more exemptions you claim, the bigger your take-home will be. The lower the exemptions claimed the more tax is withheld each week. In the USA we pay our taxes IN ADVANCE through withholding payroll deductions. The higher your withholding "balance" on deposit with the government, the better your chances of paying all of your tax bill (before deductions) by May of any given year. Many performing artists make the mistake of claiming 8 or 9 exemptions on the W4 when they start a new job and find that they owe additional taxes at tax time. Best solution: if you are single claim 0 or 1 (tops) if you are married (with or without children) claim an accurate number covering all of your family members BUT have your spouse claim "single - zero" It works to cover your joint tax bill. 

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Q10 ... Can I claim MY COMPANION as an exemption even though we are not married in the conventional sense? And if not, why not?

A10... No, not as an exemption. The feds do not recognize same sex marriages although some states do. Until the feds change the law, your companion must file his or her own tax return. However, you might be able to take your companion as a deduction IF you provide more than half of his/her support and he/she has a limited income. Your tax person can give you all of the details on this. SAG has a health plan that is available to companions but any benefits paid to you for yur companion are counted as income to you (the insured) for example. Check into all the tax-related things that are available for companions and work actively for changes in the law. But at the moment, the answer to this general question is "NO." 

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This list will be updated on a regular basis. Your suggestions will be greatly appreciated.

 

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Glad to answer any question submitted to us. Check this page regularly.

 

 

 

 

 

 

 

  ACTORTAX®

Serving the Performing arts Community since 1985

Why we do Taxes...

Why does an actor who has had his union card for over 40 years, makes a living at acting and teaches others the craft, do income tax returns for other performers?

It's simple! I love numbers and hate taxes (owing them, paying them, hearing tax horror stories and like that). Each year I complete the taxes for hundreds of my fellow performers (and  lots of other folks) and I love the process!!

I took courses in tax preparation, joined the National Association of Tax Professionals (NATP) and learned how to make a computer do what I tell it to do. (Still learning!)  My study of taxes through various journals, discussions with the IRS and my fellow tax preparers makes me feel even better about numbers and how they can also do what we want them to do.

A final note: at no time does ACTORTAX® ever break the law for its own purposes or the purposes of a client. We use the law to benefit our clients, not break the law just to get bigger refunds, etc. Believe me, I have been asked and I won't do it.

Thanks for visiting this website...come back soon...

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  David H. Kieserman

 

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                 ACTORTAX®

 Serving the Performing Arts Community since 1985
 BACKSTAGE PAGE

 

Since BACKSTAGE MAGAZINE is so important to so many of us in the performing arts as a source of information and guidance;  and since the magazine has been so good to ACTORTAX® for many many years, we have decided to provide a direct link to their web site for those of you who have a strong need, desire or interest in their thoughts.

There may a linkback to this site in the BACKSTAGE web site under "tax services." Check it out.

Go to www.backstage.com by simply clicking on the link below. You can come back here by clicking on your "BACK" icon (usually an arrow) or finding a link on their site. 

 Click here to go directly to www.backstage.com

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WHO IS THIS MAN AND WHY IS HE  LOOKING AT YOU LIKE THAT?

He is David H. Kieserman, the founder, manager and main tax preparer of ACTORTAX® but he has another life, you know...
So what do you want to know about him?
David has been a professional actor since 1961 when he received his Equity card while playing Doolittle in the first out of NYC production of MY FAIR LADY.  He got his SAG card in 1970 just before working in My Old Man for PBS
Since 1961 he has appeared in theatres in 18 states, done at least 30 major films, three soaps, six national commercials, two cruise ships and a long run as the Boy's Father in THE FANTASTICKS, Off-Broadway in NYC and many other places. (He has done over 400 performances)
He did Mushnick in LITTLE SHOP OF HORRORS... in Boston and Tokyo (86-87) as well as understudying the role on the National Tour.(84)
A high school teacher and college professor of theatre for almost 40 years, David has directed and "teched" a multitude of productions; served as a judge and Assistant Producer for the AMERICAN COLLEGE THEATRE FESTIVAL, (in DC); studied in Greece, India, England and France; acted in good "old fashioned"summer stock (both rep and long run); and started ACTORTAX® in 1985.
He is married to Judith and has two fine daughters- Rachel and Esther. (He loves biblical names.) Rachel is a software consultant and section supervisor with Apple Computer in Austin, Texas . Esther is a MIcroscopist at the Johns Hopkins Medical Center /U of MD in Baltimore.
David lives in Saratoga Springs, NY in a brick town house with Judith, Lucy the beagle, (their new dog) and his computers (5 "count 'em 5") from  which he runs ACTORTAX® and does taxes for performing artists in 38 states, four cruise ships and two foreign countries.
Is that enough information about the man who does or may do your taxes? If not, call 1-800-366-2829 and ask some more questions about taxes or whatever. He adores chatting! (During business hours only, please!)
Thanks for visiting this web site... You are always welcome...

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_______________________________________________________________________________

 Since When??

(A Brief History)

ACTORTAX® was started in December of 1985 by David H. Kieseman who was appearing in THE FANTASTICKS off-broadway at the time. Several members of the cast requested that David help them their taxes for tax year 1985. The fee was $15.00 for each return.

Realizing that he might be"onto something interesting, and understanding the heavy responsibility he was taking on with each client to "get it right", he enrolled in a special professional course in tax preparation sponsored by the National Association of Tax Professionals. (repeated for 3 years running).

The following year (1986)while he was working in the Boston production of LITTLE SHOP OF HORRORS, David agreed again to do taxes for his fellow actors.

Suddenly, along with some of the actors from the preceding year and the actors in Boston, David had a small business of his own... a part of the American dream.

ACTORTAX® has been growing ever since and David  has never looked back.

 

 

 

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Tax Tips from Actortax®

A Tax Newsletter for the Performing Arts Community

Volume 22, Number 6             © 2012 David Kieserman           Winter-Spring- 2012

To read the stories and items in this newsletter clcik on any of the links shown below and proceed directly to that item.

       Payroll tax holiday extended 2 months - meaningless tempest in a teapot

Major income tax hike, for all, likely in 2013

Ideal tax return result is no refund and no additional tax due

2011 Tax returns cannot be filed until IRS finishes work on forms

E-filing of tax returns REQUIRED in NY and many other states

Same-sex marriage tax returns can be prepared in specific states

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2 month extension...

 There was a great to do over the extension of the employment tax holiday  for all Americans who work for a living and receive slaryies from which taxes are withheld. A two month extension was just plain silly and had and has no real impact on the average salary/take home pay.  Most ACTORTAX® clients saw very little difference in their pay checks during the 1st year of this holiday designed to give the impression of a tax cut to a great many people. It was not a tax cut and will never be one.  It is just a holiday which actually was (is) another attempt by the administration to provide another "stimulus" to the American economy.  Previous stimulus programs failed and this one did too.  It should have been extended for a full year or discontinued but extending it for 2 months was an exercise in futility.

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BIG tax hike in 2013, probably

   It is likely that there will be a big, even massive, tax hike for most Americans as of January 1, 2013 if the coming election in November, 2012 yields no change in the administration in the White House. The first cause will be the discontinuance of the tax rates established and in effect since 2001 and 2003.  If not extended these taxrate will return to the higher levels in effect before those dates. The tax hikes, if they take place, will be "across the board" for all, influence the death tax and the tax on capital gains income as well as all other taxes.  There may be also a Value Added Tax (VAT) which is the same as a national sales tax.  There is a good possibility that this tax hike will not take place if there is a major change in the government in DC. A new administration will probably extend the 2001 and 2003 tax rates  by making them permanent.

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Ideal results on a federal tax return...

Most people consider getting a refund and not owing any extra taxes when they file their tax return to be a perfect result of the filing process.  Actually, the ideal tax return result is no refund owed and no additional taxes owed at filing.  Let us explain.  A refund is simply an overpayment of income taxes made suring the whole year in the form of withheld taxes from your salary. This over payment means that during the year the take home pay of any individual is lower than it could be. The actual tax due for most people is paid by May or June and the overpayment is extra money citizens loan to the government, interest-free for the rest of the year,  It is better to have only the required amount of tax withheld as of May and receive the remainder in the take home pay. This is controlled by the form W4 filled out on the job the taxpayer. The final result of a strategy like this is that the final tax returns shows no or a little refund but also shows no additional income taxes due at the filing deadline,  No refund, no tax due and more money in the pocket from June through December.  Perfect...

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ACTORTAX®  clients anxious to get going

 As the New Year came in, numerous clients began calling stating they were ready to "get going" on theirtaxes.  The problem is simply that the IRS is not ready to process income taxes return YET because they have not approved all of the forms that are required in tax return.  There are several new forms that are required this year because of rising governmental regulaions and requirements.   When the IRS finishes what it has to do, work on tax preparation can begin.

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Required E-filing is coming into reality

The IRS is moving toward a requirement concerning E-filing vs paper tax returns. Ultimately it will have its way and E-filing will be required for ALL tax returns complete with special waivers for paper return and fines for taxpayers and tax preparers who try to file by paper.  The states will follow suit and ALL tax returns will be electronically filed and ALL additional taxes will be paid by credit cards or direct bank transactions.  Many states already have this requirement in operation (such as New York) and more are folllowing suit all the time.  Paper returns will become more and more rare with special documents having to be filed to do a return that way.  For those who miss the e-filing deadlines and fail to file the appropriate papers for a paper return, will see themselves fined and penalized.  The entire tax code MUST be rewritten.

______________________________________________________________________

Same sex marriages will require special tax prep procedures

Now that "same sex marriages" are a reality in several (6) states, special tax prep procedures must be understood andfollowed in those states.  The federal tax code does not recognize same sex marriages and will have no provisions for dealing with them on the federal return.  However. states with recognized sex unions,  have redone their tax codes to allow for this new phenomenon.  The taxpayer will be fully responsible for making his/her marital status clear to his/her tax preparer.  There will probably be an increase in the fees charged by most tax preparers to provide for this new filing status.  In most states allowing "SSM filing status", a separate state tax return will have to be filed for each partner before combining them into one state return. Complicated? Yes, but very doable. Be sure to tell you tax preparer everything about your filing status.

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Special Information and Privacy Statement

1. We accept checks and credit cards in payment of our fees.   Personal checks are more than welcome. We only ask that they be good and cashable.  We accept credit cards through PAY PAL. You do not have to have a PAY PAL account to use this service. We instruct them to get in touch with you, and then you follow their instructions to pay the balance due.   There is no charge to you for using PAY PAL but there may be a charge from your credit card company for the transaction but that is normal.   Please indicate how you wish to pay our fees when you are billed by us.

2. No tax return will be E-filed or filed at all until all outstanding charges from ACTORTAX® are satisfied.  Once a tax return is.  E-filed and accepted by the taxing authority, the client will receive a full copy of the return and all papers originally submitted to ACTORTAX®.  This client copy should be retained by the client in a safe place for a minimum of 3 years. The first two pages of the federal tax return copy should be retained for ever.

3  PRIVACY STATEMENT:  ACTORTAX® will never share the contents of a client's file with any third party except in the case of a properly executed court order and the written permission of the client.  If a client requests that a portion of his/her tax return to pass that material to a third party for any reason, ACTORTAX® will copy the material requested and send it to the client. What the client finally does with that material is up to the client.  We further guarantee that we will never participate in any form of outside or third party investigation into a client's financial situation unless a signed and dated request to do so is received from the client.

4. ACTORTAX® is required by law, and the regulations issued by the IRS that control tax preparer ethical behavior, to retain a copy of each year's tax return for a period of at least three years.  We follow this rule to the letter even if the client is no longer an ACTORTAX® paying client.  There is usually a small charge if a client requests copies of material from any year retained by ACTORTAX® but this is conditional on the nature of the material being requested.

5.  If ACTORTAX®  makes an error in the data entry into a tax return and this error causes the taxpayer to pay additional tax, penalties and or interest being charged by the taxing authority, ACTORTAX® agrees to pay the penalties that are charged.

6. If a client makes an error in reporting details to ACTORTAX® in the support materials submitted in the preparation procedure, and this error results in additional tax, penalties and/or interest charged by the taxing authority, the client is totally responsible for these extra charges.

7. If a client requests that an amended tax return be prepared and filed as a result of a client error in the original rtax eturn, there is a fee for the amendment preparation. (See the rates  page in this web site for the fee amount)   This fee must be paid in full before the amendment can be filed.

8. If an amended tax return is required as the result of an error made by ACTORTAX®, there will be no fee for the preparation and filing of the amended return.

Please be sure that you have read this material and understand it. Questions? call 1-800-366-2829

 

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