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GOP Tax Bill: Big Gains for Studios, Not for Showbiz Rank and File (Analysis)

December 19, 2017Media Mention
Yahoo!

WASHINGTON — The House and maybe the Senate on Tuesday are expected to vote on a massive tax plan, giving President Donald Trump a signature legislative achievement in 2017.

It’s being hailed by media companies, broadcasters, and Hollywood studios. However, a number of rank-and-file workers are worried that it will mean a tax increase.

That’s for good reason.

Under the legislation, actors who are paid as employees will no longer be able to reap the benefits of taking deductions for unreimbursed business expenses. Other changes to the tax code likely will not make up the difference, according to the Actors’ Equity Association.

tax bill will eliminate the deduction of ordinary and necessary unreimbursed business expenses, which means you won’t be able to deduct things like audition travel, or acting lessons, or even your union dues,” the organization said in a letter to their members in the past few days." data-reactid="22" type="text">“This tax bill will eliminate the deduction of ordinary and necessary unreimbursed business expenses, which means you won’t be able to deduct things like audition travel, or acting lessons, or even your union dues,” the organization said in a letter to their members in the past few days.

tax bill will eliminate the deduction of ordinary and necessary unreimbursed business expenses, which means you won’t be able to deduct things like audition travel, or acting lessons, or even your union dues,” the organization said in a letter to their members in the past few days." data-reactid="22" type="text">To view full article, click here