Discover published sets by community

Consists of Social Security and Medicare taxes, primarily for individuals who work for themselves, including many entertainers.

Allows investors in theatrical productions to deduct their investment from their income in the year the money is spent.

Many states offer tax credits to encourage local production, which can reduce the tax liability for qualifying companies.

Entertainers from countries with an income tax treaty with the U.S. may receive beneficial taxing rights, reducing or eliminating double taxation.

Personal service corporations where an entertainer can be employed, potentially reducing overall tax liability.

Entertainers must report payments for the use of their name, face, signature, and other aspects of their persona as taxable income.

Deductible if related to the entertainment profession and considered ordinary and necessary.

Special tax status allowing for the deduction of performance-related expenses for those meeting certain income criteria.

Income from the sale of merchandise related to a performance or entertainer, which is taxable.

Limits the deduction of expenses for activities not engaged in for profit, affecting entertainers with inconsistent income streams.

When eligible tax deductions exceed taxable income, it results in an NOL which can be carried forward or back to reduce taxable income.

Income from online sales of music, movies, and books is taxable and may also be subject to sales tax laws.

Under TCJA, an individual's combined SALT deduction, including state income and property taxes, is capped at $10,000.$

Tax deduction recognizing the decreasing value of reserves for mineral, oil, or gas property.

Prior to the Tax Cuts and Jobs Act (TCJA), certain costs for entertaining clients were deductible.

U.S. tax obligation on foreign entertainers and athletes on income they earn while performing in the U.S.

Non-cash income received through the provision of services or sponsorship deals, which is still taxable.

Allows a 100% deduction of audio-visual work costs in the first year of investment.

These costs can be deductible as business expenses for entertainers.