some screenwriting money questions...:)

[victortiti89]

These are questions that just came to me today, and, even if I may never be in this situation, it's good to know, and maybe others will benefit from the answers as well...
1. If you have a representative(manager, agent, entertainment lawyer, etc.) and they help you sell your script, do they automatically take their share of the money or the entire sum enters your account and you are responsible for sending each of them the required comission?

2. How about the taxes you own to the government? Do you have to manage them yourself or will your reps also help you handle this financial side?

3. If you sell a screenplay from a different country, how do you pay your taxes? Do you pay both governments?(your country's and the US's)

4. If you win a screenwriting contest, do you owe any taxes? If so, do you have to pay them or will the contest organizers take care of this?

 

[WalterB]

1) that's something you agree on with your rep
2) ask them or ask an accountant
3) ask your accountant: they know the rules and laws of tax
4) probably your own responsibilty: most contests state it in the rules that the winner is responsible for all taxes.

 

[directorik]

I'll just support and reiterate what Walter said.

1. In most cases the agent will accept the check from the employer
and distribute the percentages to the proper parties. Then remaining
fee is then sent to the writer.

2. There are several way to handle taxes. Your accountant will help
you handle the financial side.

3. I do not know the laws of your country. Here in the States any
money earned is taxed.

4. Here in the States any money earned (even winnings) is taxed.
You have to take care of the taxes owed NOT the contest organizers.