Financial Advice

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  • Advice

    Bargains in New York

    Even when the economy is good, actors can use bargains. Here are some favorites of the Back Stage staff.

  • Advice

    Day Jobs You Don't Have to Hate

    "I love teaching," declares New York actor Michael Mastro. "It took me a long time to admit that. I used to feel that if I wasn't making the majority of my income from acting, then I was a failure."

  • Advice

    Budget or Move It!

    Back Stage asked three actors to track their spending for one month to see how they're faring. A pair of financial experts then offered advice on how these ambitious thespians can best attain their financial goals.

  • Advice

    Saving for a Rainy Day

    You have to pay your agent 10 percent and your manager 10 percent; why not 10 percent for yourself as well? Take that money right off the top and put it away for a rainy day.

  • Advice

    New Way to Deal with Credit Card Debt

    As the recession continues and companies cut costs, the consequences for actors are acutely felt: fewer productions, fewer auditions, and fewer bucks coming in.

  • Advice

    Travel for Business

    On occasion, you may get the opportunity to tour with a show or to shoot on a location that's well beyond your normal travel circles. The IRS calls it "traveling away from home" when your job requires you to be away from home substantially longer than an ordinary day ...

  • Advice

    Ordinary and Necessary Expenses

    When deducting career-related expenses on your tax return, remember that you must have paid or incurred them during the tax year for which you're filing, and they must be "ordinary" and "necessary" in your line of work.

  • Advice

    Preparing Your Own Return

    Every year, I caution people to be careful about preparing their own tax returns. Coming from a tax preparer, this advice may appear self-serving, but it isn't. Just the other day, something happened that called into question the idea, so heavily promoted in TV ads, that doing your own ...

  • Advice

    It Ain't Over 'Til...

    Yes, the income tax filing season is over—for those of us who are in the income tax preparation line of work and for you, too. Or is it? You have put together all those slips of paper reflecting wages or independent-contractor income or interest income or dividend income, and ...

  • Advice

    Audit- Da-Fé

    I am sure you are aware that the Internal Revenue Service audits tax returns. This is just to make sure we are telling the truth on our returns. The IRS uses these audits to collect data on how honest the public is in filing its tax returns. If there are ...