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Trying to find a tax accountant for my video production biz...

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Jordan Woodworth
Trying to find a tax accountant for my video production biz...
on Dec 30, 2009 at 2:12:49 am

I'm having a hell of a time finding a tax accountant that knows what they're doing when it comes to handling taxes and advising for my video production business, it's an LLC with no employees, just me. I'm in north Seattle, anyone have any references or know a good way to find someone?


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Bob Zelin
Re: Trying to find a tax accountant for my video production biz...
on Dec 30, 2009 at 3:00:07 am

any accountant that handles small businesses, and knows how to write off expenses, can do this for you. If you have a construction company, or a plumbing company, or a video company - you have expenses that need to be written off, and ANY accountant (that is not H&R Block) can do this for you, if they are dealing with small businesses.

Bob Zelin




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Jordan Woodworth
Re: Trying to find a tax accountant for my video production biz...
on Dec 30, 2009 at 3:18:44 am

That\'s what I figured but the place I went to, which was reccomended by a friend because they had been doing his family\'s drywall business, they told me to charge sales tax on production services and then later I find out from a production friend that I hired that there is a sales tax exemption. It\'s stuff like that that I need to make sure the tax accountant I hire has a good understanding of. It\'s tough when you think someone knows what they\'re doing and apparently they also think they know what they\'re doing and then you find out that they don\'t.


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Todd Terry
Re: Trying to find a tax accountant for my video production biz...
on Dec 30, 2009 at 4:37:23 am

I think you must have just run into a dud.

As Bob says, most any CPA who handles small businesses should know all of that stuff inside and out. If you have any other friends who own their own businesses ask for another recommendation.

I'd suspect it would be easy to find someone, given the current state of things almost everyone is looking for more work, accountants included. Although we have been with the same CPA for 13 years and the economy in our particular area is still quite good, right now every week or two we get cold calls from accountants and CPA firms trying to win our business. They are hungry. You might have to interview a few to find the perfect one for your business, but surely they are out there.


T2

__________________________________
Todd Terry
Creative Director
Fantastic Plastic Entertainment, Inc.
fantasticplastic.com






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Steve Wargo
Hold everything!
on Dec 30, 2009 at 5:23:20 am

the IRS has a special set of rules for the production business. About 15 or 20 years ago, ITVA sat down with the IRS and hashed out a special set of rules that incorporated our freelancers, food expense (we get a full deduction for "catering" and "craft services" where no other industry gets that.

But now, your all probably going to ask me to prove that. I'll give it a shot.

Steve Wargo
Tempe, Arizona
It's a dry heat!

Sony HDCAM F-900 & HDW-2000/1 deck
5 Final Cut (not quite PRO) systems
Sony HVR-M25 HDV deck
2-Sony EX-1 HD .

Ask me how to Market Yourself using Send Out Cards


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Steve Wargo
Here it is.
on Dec 30, 2009 at 5:27:06 am

Here's the info: http://www.mca-i.org/en/art/?41

This is worth thousands of dollars to some of you. Don't forget to send me a check.

When you're looking for a CPA, ask if they're in tune with these guidelines. If not, print them a copy.



Steve Wargo
Tempe, Arizona
It's a dry heat!

Sony HDCAM F-900 & HDW-2000/1 deck
5 Final Cut (not quite PRO) systems
Sony HVR-M25 HDV deck
2-Sony EX-1 HD .

Ask me how to Market Yourself using Send Out Cards


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Todd Terry
Re: Here it is.
on Dec 30, 2009 at 6:31:40 am

Interesting, Steve...

Our CPA has always fully deducted both craft and catering services... and the usual half of "regular" meals and entertainment. As for catering, he's always told us that if we feed the cast/crew in the middle of the day so that doing so is germane to expediting the shoot day (as opposed to sending everyone away for lunch) that it is fully deductible. Conversely though... if, for example, a shoot day just wrapped and we invited the cast/crew to stay and enjoy a meal on us, then it is not deductible (well, not fully, we could deduct half as a regular meals/entertainment expense).

I was unaware though that that was peculiar to our particular industry.

It pays to have a bean counter who knows his or her stuff.


T2

__________________________________
Todd Terry
Creative Director
Fantastic Plastic Entertainment, Inc.
fantasticplastic.com






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