No. of Recommendations: 2
oceanbluela writes,

As for Cindy's comment, "Guessing a big chunk of that 22K is going to her agents/managers.", that's not how her pay would be structured. It's customary for freelancers, especially big earners in Hollywood, to be incorporated, and all the monies they earn are paid to that entity. When the studio pays her, they will first deduct the agent's 10%, her manager's 20%, and her lawyer's 5%, and send that directly to them and pay her the net difference. Her accountants have a system set up for her corporation to pay her a constant monthly amount. So the 95,000 she is paid is hers, and she will be taxed as an individual on that. The rest in her corporation will be used for expenses and for her retirement profit sharing account.

</snip>


And I thought Financial Advisors skimmed a lot off the top. <LOL>

intercst
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement