John Thomas and Kristy Clabaugh, Atlanta CPAs specialize in providing services to the film & entertainment industries both abroad and in the US. Their firm, located in metro Atlanta, provides consulting, accounting, tax and audit services helping production companies navigate the reporting requirements of International and local film tax incentives. They assist clients in all stages of project implementation from investor relations, entity structuring, waterfall projections, budgeting, pre-production and development, production accounting to post-production. John and Kristy excel in assisting clients with planning to ensure they get the most benefit from the film tax credits available. Their clients include those who produce feature films to acclaimed unscripted TV series and all in between. John and Kristy often participate as expert panelists at film festivals and other industry events. Website: www.elementcpas.com Twitter: @filmcreditz and @FilmDebits and @ElementCpas Instagram: @Kclabaugh01 and @Elementcpas Facebook: Element Accountants and Consultants Full Bio »
Throughout every phase of making a film or series, it’s vital to have a vision, but it’s paramount to make sure your books are in order make sure that you are running your project as a business and making money back for your investors. Losing either of these aspects will spell disaster for your project. Vision likely comes more easily to creatives—it’s why you set out on this venture in the first place—but if it’s not accompanied by strong financial records and a wherewithal of what to do, both to spend money and to earn it, you’re going to find yourself in a heap of trouble that no amount of vision can get you out of.
In the previous webinar in this series, Introduction to Film & Television Accounting, we discussed the things you need to know in order to responsibly get your project off the ground, including navigating tax incentives, finding and approaching investors, and working with loan-out companies. However your dealings with accounting don’t end here; they continue well through production. You might have wrapped your film, but there are still some serious i’s to dot and t’s to cross. How do you report your earnings and your spending? How do you handle payroll in accordance with the different guilds and unions? How do you prepare your taxes and how do you make sure you actually get those credits and incentives you’re owed? There’s no time to sit on your laurels. It’s more vital now than ever to ensure that your accounting is, well, accounted for.
John Thomas and Kristy Clabaugh are Atlanta-based CPAs that specialize in providing services to the film & entertainment industries both abroad and in the US. Kristy also serves on the executive board of directors as Treasurer for both the Georgia Production Partnership and Women in Film & Television Atlanta. Together they have worked on hundreds of film and television projects assisting clients in all stages of project implementation from investor relations, entity structuring, waterfall projections, budgeting, pre-production and development, production accounting to post-production.
John and Kristy will continue on from their first accounting webinar to share with you more advanced but equally vital aspects of handling the accounting on your film project. They’ll go over financial reporting requirements for any project, specifically your balance sheet and your income statement and teach you how to reflect your project as an asset, how to report investor obligations, both as loan payable and equity interest, and when and where the revenue hits. Next they’ll delve into the importance of quality production accounting and go over the guild and union rules you need to know while doing payroll. John and Kristy will walk you through cost reports and how they compare with the budget. Then they’ll teach you the nuts and bolts of tax preparation, which includes both federal filings like elections and K1s, and state filings, like resident/non-resident filings tax incentive and credit declarations.
Praise for John and Kristy’s Webinar
Both presenters really knew their stuff and presented it with clarity.
This advanced class was so helpful. John and Kristy got into the nuts and bolts of accounting in a serious way and gave me a lot more confidence in being able to handle accounting on my own project”
Really thorough but also easy to understand
John and Kristy are the best!
John Thomas and Kristy Clabaugh
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As creators we can get swept away in the excitement of having our film or television project greenlit. Imagining "lights, camera, action", the collaborative process and the excitement of having a successful and profitable project is the reason we pursue a life in film and TV. But, before you step on set and get rolling, you'll need remember that this is, in fact, a business. It's a business with a great deal of money at stake for investors who want to make sure their money is protected. In order to do this, you'll need to understand how to set up your project as an entity and the tax implications involved for you and your investors. It may be the least sexy, but certainly the most crucial component to putting together a film - the accounting process. Someone (or maybe even yourself) has taken a chance on investing in your dream, and that means that investment should be treated with care. Taking the important step of understanding what entity type you should set up and the tax implications that go along with it, will help you avoid major headaches down the road and give you the peace of mind that will allow you to concentrate on making your project the best it can be. Having your project setup correctly from the get go will also help you avoid costly mistakes with investor distributions. And, let's face it, you hope to show that you know the ins and outs and that you can deliver a successful project so your investors will stay with you and invest in your next film or TV project. John Thomas and Kristy Clabaugh are Atlanta based CPAs that specialize in providing services to the film & entertainment industries both abroad and in the US. Kristy also serves on the executive board of directors as Treasurer for both the Georgia Production Partnership and Women in Film & Television Atlanta. Together they have worked on hundreds of film and television projects assisting clients in all stages of project implementation from investor relations, entity structuring, waterfall projections, budgeting, pre-production and development, production accounting to post-production. John and Kristy will teach you the differences between an LLC, Corporation, S-Corporation and Foreign Entity and the common strategies that go along with each. You'll understand the tax effects of your selection and how dividends vs. distributions will work. You'll also learn how to work with tax incentives and financing. And, most importantly, you'll understand how to talk with your investors and what you'll need with K1s, Section 181, money flow, loan-outs and more. They will teach you everything you need to know to set up your entity correctly, protect yourself legally, give your investors the comfort and security that they're money is protected, and that you're in the best position to see a return. "This is the holy grail! John and Kristy are so knowledgeable about so many things with the business side of the film!" They made this part of the process actually fun!" - Wade N. "All I can say is wow. I have seen the light and now feel beyond comfortable putting together my next film." - Jennifer L.
The new year is an exciting time as you dream of all the new projects you'll be working on! But this year isn't really over until April 15th, when you've entirely completed the previous year's taxes. Get ahead of the headaches and make a strategy now with the help of entertainment CPAs. Personal taxes, corporate taxes, and loan out company returns. All of these tax returns are necessary for creatives, and they all tie together. Not to mention that what you can right off changes every year. You never want to pay more than you should, but do you know everything you can deduct? Whether you're looking back at the last year or looking at projects coming up, this webinar will get you organized and ready to tackle your taxes! Kristy Clabaugh and John Thomas are Certified Public Accountants and founders of Element CPA, an entertainment and creative-focused accounting firm. They know the ins and outs of production accounting, having provided over 20 years of experience in accounting, tax, and advisory services on both above and below-the-line areas of film, television, animation, and music sectors. Kristy also serves on the executive board of directors as Treasurer for both the Georgia Production Partnership and Women in Film & Television Atlanta. The duo will answer your questions so that you can apply this priceless knowledge to your projects and companies. Don't have the chance to watch this exclusive webinar live? Or do you want to be able to return to this fantastic information? You'll have access to this webinar for a whole year and can return to it again and again. Don't waste your valuable time making redundant spreadsheets, digging through unnecessary receipts, and stressing yourself out. Learn from some of the best in this webinar and walk away clear on what you need to do, what you don't, and ready to make tax time a breeze! "This is the holy grail! John and Kristy are so knowledgeable about so many things with the business side of the film!" They made this part of the process actually fun!" - Wade N. "All I can say is wow. I have seen the light and now feel beyond comfortable putting together my next film." - Jennifer L.
"Lisa is honest, raw with truth and very real with her knowledge. I appreciated how candid she was with the entire documentary filmmaking process. She was so incredibly detailed in each and every section. This was by far a master class on documentary filmmaking. Thank you Stage 32 and Lisa." - Tiffany F. Learn the steps you need to make a successful documentary hosted by Lisa Vangellow, Executive Producer of DISNEY +'s recent documentary World War Shoe produced with David Beckham. It's a great time to be a documentary filmmaker. The biggest distributors are hungry for documentary material to fill the pipeline. So what the principles that make a good idea for a documentary into a great finished product? How do successful documentarians create their films from start to finish? What are traps along the way you can avoid? And how do you ultimately get your film watched? In addition to her work with Disney +, Lisa Vangellow is an independent producer and director who has a project with actor James Franco. Lisa was previously Vice President of Development and Production at Arsenal, where she worked on projects including Push, Che: Part 2, and Let Me In. Over the course of three sessions, Lisa will offer her experience from the trenches to help filmmakers master the nuts and bolts of documentary film production and share step by step instruction on how you can produce a commercially viable film from idea to post-production. First, she’ll focus on the selection of subject matter and how to gauge its commercial viability. Lisa will take you through pre-production for a documentary film hitting on areas such as how to create a budget, hire your crew, get financing and explaining why you may want a lawyer to handle the nitty gritty. From there you’ll get an overview of different documentary styles and insight on how to create your story through the use of specific examples. Finally, Lisa will explain how to survive the post-production of your film to bring the entire project together and discuss your options for distribution. You will leave with an overall understanding of the documentary filmmaking process, an idea of what makes a good documentary, and how to execute these lessons in the real world. Even if you have little to no experience or if you have narrative film experience and are looking to try documentaries, Lisa will guide you towards the goal of completing a documentary film. PLUS! YOU WILL RECEIVE THESE DOWNLOADS: Budget Template Notice of Filming Template Documentarian Ethical Truths Guide Film Funds Resources
Learn what executives look for in the first five pages of your script from a producer with projects at HBO, Universal, Fox, CBS and more. "I just re-wrote my first five pages based on this class and Regina's incredibly insightful feedback, and wow! What a difference it made. This class is a "must take" Stage 32'ers!" - Shari F. The first five pages of your script are perhaps the most important of your entire story. Those initial pages must hook your reader from the very first word and entice them to follow you into the world your story has created. No matter the genre, those first five pages are key. Whether you’re submitting your script to a screenwriting contest, a manager, an agent, a producer, or director, your job as a writer it to craft those pages in such a way that the reader is compelled to keep reading. Whether you are writing your first script or your fiftieth, learning to make those first five pages sing is a critical skill. Your instructor on this journey is Regina Lee. Regina is a film and TV series producer and former studio executive who has worked with writers and talent of all levels to get their projects sold to studios and networks like HBO, FOX, BET, Lifetime, Starz, Universal Pictures, The CW, CBS and more. She recently teamed up with showrunner Rob Thomas (creator of iZOMBIE, VERONICA MARS, PARTY DOWN), Owen Wilson, and Emmy winners of This American Life to sell a pilot to HBO. She began her executive career at Universal Pictures, where she was the primary executive in charge of movies like THE FAST & THE FURIOUS 3, THE GOOD SHEPHERD, AMERICAN WEDDING, SEABISCUIT and more. Regina has a deep and accomplished history of elevating projects and helping them find success and because she's been both a producer and a studio executive she understands what it takes for scripts to break through. Over the course of three jam-packed sessions, Regina goes in depth on what NEEDS to happen in your script’s first five pages, what executives are looking for, the typical paradigms for a script’s opening, and how you can give executives what they want to see. You will leave this class with a solid understanding of how to get your reader hooked in only 5 pages or less! Purchasing gives you access to the previously-recorded live class. Although Regina is no longer reviewing the assignments, we still encourage all listeners to participate. More Praise for Regina’s Stage 32 Class "Regina offers great insight. This class instantly made me a better writer.” - David L. "Thanks for a wonderful class! Your efforts have been amazing." -Heather F. "Great class, very helpful and useful information." -John R.
State of the industry Why the majority of TV/Film comes from pre-existing IP "The Executive Bias" Pre-existing Fan Base/Fleshed Out World Adapting Books/Articles Where to Go! How To Choose Material Who To Contact For Film/TV Rights How To Close The Deal Case Study: Game of Thrones, Sex and The City Case Study: The Wedding Sting in the Atlantic, now going to be a film at Paramount Adapting Comic Books / Video Games Where to Go! How To Choose Material Who To Contact For Film/TV Rights How To Close The Deal Case Study (Comics): Guardians of the Galaxy (Marvel/Disney, lesser known/less successful comic became a blockbuster) Case Study: Jessica Jones (Marvel / Netflix) Case Study (Video Games): Assassin's Creed (FOX, to be released this December) Making it your own Most say DO NOT adapt your own material (leads to being too protective of your work/not as open to change) Fun thing about IP, when you build a world, it can keep being adapted into other mediums (Example: Orphan Black the comic book was one of the best-selling comics last year, adapted from TV show. Goes in both directions) The heart of this, however, is making sure the new versions are different enough from the old, AND have your voice in them. LIVE Q&A with Maggie!
Learn directly from Liz Profumo, Managing Attorney of the Immigration Firm D'Alessio Law Group! "Lots of info provided and all questions were answered. Thank you so much, you've made the first step much easier! So glad this webinar came up as I was feeling pretty lost and confused on how to go about it. I'm trying not to 'self-diagnose' as you said, but it has made me realise I need to get more professional experience and put myself out there more, to give myself the best shot at getting the visa." – Jessamie K. "[They were] very informative and gave great advice…All in all, I left the webinar very pleased and more informed!" – Herschel A. In this Stage 32 Next Level Webinar, Managing Attorney Liz Profumo and her team at DLG Immigration will walk you through the O-1 ‘Artist of Extraordinary Ability' Visa. Liz will deconstruct the issues that foreign nationals encounter when crossing the border, applying for visas, finding employment in a new country and relocating. You will leave the webinar knowing: Exactly what the O-1 visa entails. How to construct the resume of the visa. How to getting letters of support. What other visa options exsit if the O-1 isn’t a good fit for you. What to do - and not to do - at the border. How to identify and avoid immigration scams. Your host Liz Profumo has been practicing immigration law exclusively since 2007. Her practice is limited to immigration and nationality law and concentrates on temporary and permanent business and employment related visas for investors, artists, and entertainers, and she has assisted hundreds of artists, performers, and other industry professionals to realize their dreams of living in the United States. The associates at DLG Immigration have personal experience in the immigration process and the entertainment industry, and understand your logistical requirements as well as your legal requirements. They understand the types of documentation you will have and what to ask you for and are here exclusively for Stage 32 to help our members around the world pursue their dreams of working in the U.S.