Tuesday, February 20th
The Playroom Theatre, 151 W. 46th Street, 8th fl.
Speakers to include: Bailie Slevin, financial consultant with Entertaining Finance, a business management and financial consulting firm geared specifically toward creatives; Dave Spaulding, Enrolled Agent (EA), Chartered Retirement Planning Counselor (CRPC) and the Accredited Domestic Partnership Advisor (ADPA) and partner at Phillips Gold & Partners.
A look at the new tax laws with respect to organization & entity structure, tax rates and how the new law bleeds down to the individual, whether producer or performer. Apart from the rate changes, and substantial bracket swings, there are quite a number of other surprising things both incorporated in the new law as well as left out. There are major reductions in tax deductions at the entity level but a near elimination of miscellaneous itemized deductions on the individual level making it very difficult for the small employee-performer. The doubling of the standard deduction may help some, but there are no personal exemptions left in the tax code. We'll look at how the tax laws might impact donor giving, and alternate strategies for maintaining and possibly growing support. Has the target donor base changed because of the change in deductions? On the plus side, perhaps, there are benefits in the new law for the self-employed and small business owner of either a partnership or S-corporation that could reduce taxable income from these specific entities. Our speakers will guide you through this confusing government-imposed maze, and help manage expectations for artists.