Yesterday, I went to LA and recorded my first SAG actor/actress for my animation I'm creating, which was an amazing and very surreal experience! But now I'm having issues figuring out how the payment system works and my SAG representative has been less than helpful in explaining.
I was told to find out if my actress was part of a loan out corporation or not, which she is not. Since she is not, I was told to 'hire an accountant', if needed 'withhold taxes and show a sheet showing withholdings' then send a check into SAG made out to my actor. I was talking with a friend who does a lot of accounting work, and we were both having problems trying to figure out what needs to be done. Am I withholding for Medicare, federal, social security, california income tax? Do I need to fill out tax forms for this, ect?
Also, how does it work with the agent's cut. The check is going to SAG addressed to my actress. After the actress receives the check and deposits it, does the agent go to the actress for his cut? Is this things I don't need to be worried about/handled without me?
Any information I can get would be incredibly helpful, because I'm incredibly lost right now. I just sort of assumed they'd send me a bill and I'd pay! Feel free to explain this to me like I'm a 3 year old, this is a bit beyond my knowledge level!
Chris Wilson
www.cwanimation.com
I was told to find out if my actress was part of a loan out corporation or not, which she is not. Since she is not, I was told to 'hire an accountant', if needed 'withhold taxes and show a sheet showing withholdings' then send a check into SAG made out to my actor. I was talking with a friend who does a lot of accounting work, and we were both having problems trying to figure out what needs to be done. Am I withholding for Medicare, federal, social security, california income tax? Do I need to fill out tax forms for this, ect?
Also, how does it work with the agent's cut. The check is going to SAG addressed to my actress. After the actress receives the check and deposits it, does the agent go to the actress for his cut? Is this things I don't need to be worried about/handled without me?
Any information I can get would be incredibly helpful, because I'm incredibly lost right now. I just sort of assumed they'd send me a bill and I'd pay! Feel free to explain this to me like I'm a 3 year old, this is a bit beyond my knowledge level!
Chris Wilson
www.cwanimation.com
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