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.


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

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