Posts Tagged ‘tax advice’

Solving Tax Issues Without An Income

Any time you do not have an income it can be very stressful especially if you have to deal with tax issues. The very first thing you need to do is seek out a tax professional to help you get situated so that you do not have any problems with the IRS. Another thing you need to do is be sure that you have filed for your unemployment benefits online. Your benefits check will help you with any small expenses that you have including helping you pay for your bills while you look for a job.

Your Tax Professional

Be sure that you are up front and honest with your situation to your tax professional. You need to get a professional opinion on how to handle the situation so that it does not get out of hand. Paying taxes is something that everyone has to do, so be sure you do it correctly.

Working On An Income To Pay Your Bills

You need to also start applying for jobs so that you can get back on track and be able to afford any taxes that you may need to pay. If you need to work out a payment plan with the IRS, be sure that you do that so that you are not penalized.

Taxes without an income can be a hard thing to deal with so always think of ways to stay positive and proactive as opposed to handling your situation in a timely fashion.

Tax Credits for Hollywood Television Productions

There is a tax credit that the television production industry gets, and it is going to ensure that Hollywood will always make the kinds of shows you like to watch. It’s the Film and Television Tax Credit program, and it is creating a lot of jobs in California, which is great for you when you want to watch the best satellite TV shows possible.  This tax credit, which was drawn up in 2009, helped fund 165 projects, which has created numerous productions jobs in California.

Tax Breaks Extension

The tax breaks will run to July 1, 2013, which is the last day to get the tax credits, but the California State Legislature’s Art and Entertainment Committee passed AB 2026, which extends the tax credit into 2026, so there will plenty of time to cash in; this also shows that California is serious about film production and the livelihoods of the people it serves.  Opponents of the bill think it is just a big waste of money, and say that these film producers will tape in Hollywood anyway, so they are just money hungry. Those in favor of the bill point out that tax credits won’t be issued until a show is finished taping, so there’s less chance of the abuse that the opponents are afraid of. Jobs will be created, and the beloved TV shows and movies we all love to watch will be filmed right there in Hollywood, where they belong. To the supporters, they believe this is a win-win for everyone involved.

California is the birth place of the entertainment industry, and anything that can give them incentive to stay filming in Hollywood is a huge plus for everyone because it helps add to the bottom line of everyone who lives there, especially those working on production and taping. And as satellite TV consumers, we will never have to miss our shows and films that we like.