The Business Of Acting: Tax Tips For The Working Actor Pt. 2

Tax season will be here before you know it, so yesterday we began looking at some of the expenses that actors can deduct when it's time to itemize their taxes. We shared a number of actors' business expenses yesterday, but here are a few more that you should be keeping track of:

• Theater books, scripts, sheet music, rosin, tapes, records, etc.
• Portion of home phone bill used for business
• Cell phone and internet bills
• Theatrical wardrobe
• Theatrical wardrobe maintenance (dry cleaning, tailoring, etc.)
• Theater, film and concert tickets
• Rehearsal studio bills
• Accompanists
• Home office
• Trade papers
• Work-related travel expenses

When you itemize your taxes, and factor in the appropriate deductions, it can make the difference between owing Uncle Sam and getting refund! So be sure you find a tax professional that can help you will all of your tax filing needs.

On another note, when discussing taxes for the working actor, you may hear some actors pondering whether they should incorporate or not. Did you know that many filmmakers who embark on new film projects set up a corporation for each film they produce? This helps filmmakers protect their personal property in the event of lawsuits during the filmmaking process. This also protects each project from any debts or liabilities incurred by any other films they make.

Well in the 1930s, actors began to follow suit and incorporate themselves, a strategy that's still used widely today. It can be especially useful for actors who want to eventually produce their own projects, or have more control of their money. However before you consider incorporating, it's important that you speak with an attorney. Additionally, due to the amount of money incurred by forming and maintaining a corporation, it's probably best that you wait until you're making on average $200,000 per project and working consistently.

$200,000 per project sounds like a lot of money doesn't it! But don't worry. I know you'll get there eventually. If you're ready to start working towards that goal visit www.EliteCastingNetwork.com and check out our auditions today!

5 Ways Live Theater Can Help You Become A Better Actor

You will find that there are a number of opportunities on Elite Casting Network ( www.EliteCastingNetwork.com). But often, many actors who have dreams of one day seeing themselves on television or in film only focus on those opportunities, completely passing over live theater or other casting notices.

It’s important not to limit yourself when you’re first starting out and go after every opportunity that’s available for you. And if you’re an actor, live theater is one of the greatest ways to help you become a better actor and further your career. There are several reasons why:

• Live theater offers instant audience feedback. There’s no better way to judge the effectiveness of your performance than by immediate laughter, tears, gasps or applause.

• If you make a mistake on stage, no one is going to yell “Cut!” and allow you to take it from the top. Live theater forces you to nail your performances, as well as become a master of recovery and improvisation in the moments when you do make errors.

• Live theater performances often run several days a week, for a number of weeks. Multiple performances are a great opportunity to hone your craft, experiment with different techniques, and learn what it feels like to truly master a role.

• Training is essential to becoming a great actor, however many actors credit working with other talented performers as a great way to learn important lessons about the craft. Live theater allows you to learn from other more experienced performers over a long period of time.

• Agents and managers often go to plays to scout talent. I was just at a play last weekend and while in the lobby after the show, an agent approached the lead of the play and expressed an interest in representing him.

So you see, live theater can help you master your craft, AND open a lot of doors. Check out the casting calls for live theater on our website. I know you’ll grow to love live theater and see the benefits of performing on stage in no time!

Picking A Monologue

Every actor should have a monologue that they can perform for agents, managers or casting directors. It’s a great tool to showcase your talent, and impress industry professionals who are in a position to help you take your career to the next level. It’s very important that you put a lot of thought into selecting a monologue. You’ll need to commit it to memory and rehearse it until it’s perfect – which will take a lot of work. So you want to make sure you pick something really great the first time around.

You’re probably wondering how you go about picking a monologue that helps you shine. Here are a few tips that will help:

• Pick a monologue that showcases your strengths. If you’re great at comedy, then pick a comedic monologue. If you’re a dynamic dramatic actor, then you’ll want to pick something that allows you to show your dramatic range.

• Make sure your monologue is age appropriate. While you might do a really great job at portraying an 80 year-old woman when you’re only 16, you want to pick a role that you could actually book in the real world.

• If you select a monologue that’s an excerpt from a full-length script, be sure to read the entire script to completely familiarize yourself with the character.

• While you want to standout, don’t opt for monologues with foul language or make use of obscene gestures. You want to wow your audience, not offend them.

• Shy away from monologues that require you to use a dialect for the duration of the performance, especially when performing for agents or managers.

Once you’ve selected your monologue and mastered it, it’s time to start performing it! Take a look at the list of managers and agents on our website ( www.StarSearchCasting.com ) - we’ve got thousands located all over the U.S. and they’re waiting for you to blow them away! Be sure to let us know how it goes!