Want to see your name in lights? New Jersey is offering incentives to attract the film industry. Learn how to take advantage in our latest tax highlight:
So You Want to Be a Movie Star
Probably all of us at one time or another have leaned back in our chairs while sitting in a movie theatre and thought “Wow, what would it be like to be a movie star.” Well, fear not, maybe all is not lost. The entertainment industry is definitely in a state of flux. No longer is it necessarily centered in California.
What’s In a Name: IRS Chief Counsel Answers – At Least for Rental Income
William Shakespeare’s Juliet thought that a name was arbitrary or irrelevant. Apparently, IRS Chief Counsel agrees, at least when it comes to determining if the definition of rental activity under the Passive Activity Loss rules controls whether income from such activity is exempt from self-employment tax.