Taxes for Entertainment Creatives: Start the New Year Right and Get Ahead of Your Tax Season

Hosted by John Thomas and Kristy Clabaugh

$49

On Demand Webinar - For immediate download. Unlimited access for 1 year.

Start Learning

Please make sure you use the same email address as the one you use to sign in to Stage 32, otherwise you won't have access to your webinar.
apply Your coupon will be applied after you agree to terms below.

- or -

$49.00
TOTAL PRICE:
Overlay Icon

Stage 32 Next Level Education has a 97% user satisfaction rate.

John Thomas and Kristy Clabaugh

Webinar hosted by: John Thomas and Kristy Clabaugh

CPAs at Element CPAs

Kristy Clabaugh and John Thomas are Certified Public Accountants with over 20 years of experience providing accounting, tax, and advisory services to businesses and high net worth individuals. They are founding Partners of the Atlanta-based firm, Element CPA, PC, which has a unique niche focusing in the creative industry on both above and below the line for film, television, animation, and music sectors. Kristy serves on the executive board of directors as Treasurer for both the Georgia Production Partnership and Women in Film & Television Atlanta. John and Kristy are members of the Georgia Society of Certified Public Accountants and the American Institute of Certified Public Accountants. Full Bio »

Webinar Summary

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.

What You'll Learn

  • The 3 kinds of returns and what you will need for each
    • Personal Tax return
    • Loan Out Company Return
    • Corporate Tax Return
    • How they all “tie” together
  • Breaking down what you “really” need
    • What is deductible
    • What should you be tracking
    • The best ways to track expenses
    • Important dates to remember
  • Tips to save time and money
    • Choose the right tax preparer and accountant for YOU
    • Things you can do yourself and what should be done by a professional
    • Common mistakes or mishaps and how to avoid these
    • Ways to get and keep your finances organized
  • Q&A

About Your Instructor

Kristy Clabaugh and John Thomas are Certified Public Accountants with over 20 years of experience providing accounting, tax, and advisory services to businesses and high net worth individuals. They are founding Partners of the Atlanta-based firm, Element CPA, PC, which has a unique niche focusing in the creative industry on both above and below the line for film, television, animation, and music sectors.

Kristy serves on the executive board of directors as Treasurer for both the Georgia Production Partnership and Women in Film & Television Atlanta. John and Kristy are members of the Georgia Society of Certified Public Accountants and the American Institute of Certified Public Accountants.

FAQs

Q: How do I watch my webinar live?
A: If you received a confirmation that your webinar is on Go to Webinar, you will receive an email from Go to Webinar with further instructions for participating in the live webinar. You can also access your webinar link in your purchase history located under settings in the top right-hand corner of your Stage 32 profile.

If you received a confirmation that your webinar is on Zoom, you will receive a separate email from Zoom with further instructions for participating in the live webinar. Your login link will not be in your Stage 32 profile. If you did not receive your link via Zoom please email support@stage32.com.

Q: How do I watch my webinar on demand?
A: You will be able to watch your webinar on demand as many times as you’d like inside your Stage 32 profile. The recording is processed and posted between 24-48 hours after the webinar concludes. You can follow the instructions below.

YOU MUST HAVE A STAGE 32 PROFILE TO WATCH YOUR VIDEO – STAGE 32 IS FREE TO JOIN If You Already Have a Stage 32 Profile:

  1. Log into your Stage 32 profile
  2. Click "Settings" in the top right-hand corner (gear icon)
  3. Click "Purchase History"
  4. Choose this webinar and click the link to view
If You Do Not Have a Stage 32 Profile:
  1. Go to www.stage32.com
  2. Create a profile using the SAME email address you used to sign up for this webinar. The email addresses must match in order to watch the webinar.
  3. Once you have your profile set up, you can view the webinar by clicking "Settings" in the top right hand corner (gear icon)
  4. Click "Purchase History"
  5. Choose this webinar and click the link to view

Q: What is the format of a webinar?
A: Stage 32 Next Level Webinars are typically 90-minute educational broadcasts that take place online using a designated software program from Stage 32. Your webinar will be taught by a working industry professional with in-depth teaching on a topic. If you are able to attend live you will be able to ask your Stage 32 Educator questions during Q&A.

Q: What are the system requirements to watch my webinar live?
A: You will need to meet the following system requirements in order to run the webinar software: Windows 7 or later Mac OS X 10.9 (Mavericks) or later.

If you have Windows XP, Windows Vista and Mac OS X 10.9 (Mountain Lion): The webinar software does not support these operating systems. If you are running one of those operating systems, please upgrade now in order to be able to view a live webinar. Upgrade your Windows computer / Upgrade your Mac computer.

Q: What if I cannot attend the live webinar?
A: If you cannot attend a live webinar or purchase an on demand webinar, you will have access to the entire recorded broadcast, including the Q&A.

Q: Will I have access to the webinar afterward to re-watch?
A: Yes! Like all Stage 32 education, after the purchase of a live or on demand webinar, you will have on-demand access to the recording.

Q: How do I get a copy of the handouts provided?
A: If the webinar you take included handouts you can find them as downloads underneath your on demand video. You must be logged into your Stage 32 profile to view the video and get the handouts by clicking settings in the top right hand corner, then clicking purchase history.

Q: What if I need accessibility and accommodations?
A: Email support@stage32.com to request accommodations.

Thanks for your loyalty to Stage 32 Education. We value having you in the Stage 32 community.

If you have any further questions, we are always happy to help. Please contact Stage 32 support at support@stage32.com.

Testimonials

"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.

 

"I have a Bookkeeping Business specializing in the Entertainment Industry so I'm not the ideal audience for this webinar and didn't get my question answered but I love that Kristy and John are doing this! I see SO many Prod Cos and Crew Members who are so good at their craft but need help with the business/finance/tax end and and it's great that they are lending their expertise!"

-Kim I.

 

"They were extremely knowledgeable and gave great information."

-Patrice D.

Questions?

If you have a generic question about Stage 32 education you can take a look at our frequently asked questions section on our help page, or feel free to contact support with any other inquiries you might have.

Other education that may be of interest to you:

Introduction to Film and TV Accounting: Setting Up Your Entity, Understanding Tax Implications, Investor Distributions and More

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.

Advanced Level Accounting for Film & Television

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. -Clint A.   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” -Cassie G.   Really thorough but also easy to understand -Gerry T.   John and Kristy are the best! -Rodolfo B.

How To Write A Short Film That Gets You Noticed

You may be surprised by JUST how many successful filmmakers today began their career by writing short films. Everyone from Christopher Nolan to Ryan Coogler to Chloe Zhao to Justin Lin have short film writing credits to their name and used those projects to springboard their career. This is how new and untested creatives can prove their mettle, get their name out there and actually get their foot in the door. And you can do this as well. Whether you’re building up your filmmaking career, itching to write the next festival darling or award-worthy short film, or just love the short form format, you too, can master the art of short film writing. There are many reasons and inspirations for writing a short, but shorter doesn’t mean easier to write. One of the great challenges is that many people go into writing a short with the mindset of creating a proof of concept for a feature. While there’s nothing inherently wrong with this, this mindset tends to encourage a few logical fallacies, and in a strange way actually devalues the work. Short films require a fine balance of elegance and story economy. They require an innovative storytelling technique that usually takes years of practice and feedback to master. With the right guidance though, you’ll be able to master this in no time. Clay Liford is an award-winning independent filmmaker and director of photography whose many shorts include the Sundance hit MY MOM SMOKES WEED. His projects have premiered at Sundance Film Festival, SXSW, Munich, AFI Film fest and more. As a director of photography, Clay has shot over twenty-five features, including the SXSW award-winning films ST. NICK and GAYBY. His film credits also include WUSS, EARTHLING, SLASH, and MY MOM SMOKES WEED, a Sundance Film Festival favorite. As an indie filmmaker, editor, and writer, Clay has mastered the art of writing and making both feature length and short films. He is also a film production instructor at the University of Texas, who has become proficient at teaching his methods for efficiency and artistic self-sufficiency. Now he’s sharing what he knows with the Stage 32 community. Clay will take you through his proven and effective approach to writing an effective short films that get you noticed and advance your career. He’ll go over the REAL differences between shorts and features, what every short film needs to succeed, how to think like a director (even if you’re not one), and how to maximize your festival strategy. Most importantly, he’s going to introduce you to the concept of Iconography. You’ll have the opportunity to ask him questions, and by the end of this webinar, you’ll fall in love with this format and walk away with a new perspective and appreciation for the short film format. Clay's guidance will give you confidence to develop your short film and help you succeed in the short film market.   PLUS! Clay provides you with the following handouts: Overview of How to Write a Short Film - Things to Consider & What to Watch Out For Story Structure Diagram Breakdown of Film Roles on a Set Elements of a Lookbook Duties of a Director Suggested Reading List   Testimonials for Clay's Webinar:   "Clay had great energy and pace. He was able to explain things in different ways and with excellent examples." -Magi A.   "Clay didn't sugar coat anything - keeping the short within a tight budget and length is smart strategy & practical. I appreciated his honesty." - Shaan D.    

Developing a True Story Into a Film - How to Acquire IP & Develop, Write, Produce and Distribute the Project

With all the recent success for true story dramas including Harriet, Bombshell, Judy, Ford v. Ferrari, The Irishman (among many others), it’s an exciting time in the marketplace for non-fiction. If you have found a story that truly inspires you and know it will make a great film, sometimes it’s hard to know where to start to make that happen. The easy part is finding the right story, the hard part is knowing what to do with it. Whether it’s a book, a newspaper or magazine article, a documentary subject, or even if it’s the story of someone you’ve met or are related to, understanding how to get the rights and put the project into motion is paramount. To cover all your bases from the legal aspects to development to filming to distribution, you need someone who has been in the trenches time and time again. And we've got just the person, one of the most experienced independent film producers working today, to help you make sense of it all. Jim Young of Animus Films has created a successful career working in the true story space with films such as The Catcher Was a Spy (Paul Rudd) based off of the life of Moe Berg, Life of a King (Cuba Gooding Jr.) based off of the life of Eugene Brown, The Man Who Knew Infinity (Dev Patel) based off of the life of Srinivasa Ramanujan, Lovelace (Amanda Siefried) based off of the life of Linda Lovelace and the upcoming The People vs. Vegas Dave based off of controversial gambler Vegas Dave. Jim is a leading independent non-fiction producer, with almost two dozen films under his belt. And now he's bringing his extensive knowledge exclusively to the Stage 32 community. Jim will take you through the steps of acquiring the rights to a particular article, book or other printed material about, or the life rights of, a given person (or persons). From there he will cover writing and developing the script, getting buttoned up legally to avoid pitfalls in the pre-production and production phases, and help you navigate the process of releasing and distributing the film. He will provide real life case studies using some of his own films as examples to help you gain real world experience and make the process painless.   "Jim was an excellent educator. He really broke down the process of getting life rights in an easy to understand way and opened my eyes to some huge pitfalls I need to avoid along the way. Great examples from someone who's actually doing it right now, which is important. Thanks Jim!" -Jonathan R.

Understanding Option Agreements: Everything You Need to Know to Protect Yourself

Whether you're controlling some valuable intellectual property, looking to secure IP, or simply have a valuable property in the form of a spec script, TV pilot, webseries, digital series, or other filmed material, you are likely going to be confronted with signing or distributing an option agreement. It is imperative that you understand the various types of option agreements and what information should be included to assure that you are not only protecting your material, but yourself legally as well. As the content gold rush grows, option agreements have become more and more commonplace. It is the vital piece of the paper trail that will ensure you are exercising and getting all your rights as your project gets made. These agreements are designed to protect both sides of a given deal, but can be complicated and sometimes include unnecessary language or clauses that could serve to hold up your content or payment. before you sign on the dotted line, you need to understand what exactly is an option agreement, who has creative control, how much money can be made and what you need to include to protect your rights up front. Lane Shefter Bishop is an Emmy award winning filmmaker and producer who has set up over two dozen book properties - many of them only on book proposals and early partials - with studios, networks and production companies throughout the entertainment industry. She is the CEO of Vast Entertainment, a book-to-screen company with numerous projects at both studios and networks, including feature films for Fox 2000, Silver Pictures, CBS Films & Lionsgate, and TV films for Lifetime, as well as TV series with Phoenix Pictures, Atlas Entertainment, The Donner Company, Storyline Entertainment and Universal Cable Productions. She has been on both sides of option agreements and knows the ins and outs of what you need to take into account for your own option agreement. Lane will provide you essential practical knowledge on the ins and outs of option agreements and break them down step-by-step and section-by-section. You will know what is included in a typical option, what purchase price can be expected, what royalties can be expected, what reserved rights are and how to handle publishers releases, notarized addendums and author assignments. This is vital for authors and screenwriters who currently have or expect to have their own material optioned and want to know what monies they can expect to make, when, and how. But it is also highly beneficial for producers, directors, and talent looking to acquire their own underlying material for development- books, short stories, graphic novels, articles, etc.   Lane will provide you with a comprehensive, but easy to understand deep dive on option agreements. She will remove the fear and anxiety which will allow you to clearly and decisively protect yourself and ask for the important items that need to be included in all your agreements.     Praise for Lane's Stage 32 Webinar   “Very impressed with Ms. Bishop, both her formal presentation and the Q & A that followed.” - Steve Weintz   “The seminar was informative, insightful, well documented, entertaining, well thought out and delivered with a touch of humor. Wonderful!” - Katharine Carter

How You Can Write And Produce A Successful Holiday Romantic Comedy

Learn from an executive and producer with over 25 years of experience behind holiday and rom-com films such as A LOUD HOUSE CHRISTMAS, LOVE AT FIRST BARK, LOVE UNDER THE STARS, and more.   Are you ready to write or produce your feel-good story for audiences worldwide? Holiday-themed romantic comedies have become a year-round staple for television viewers. It goes beyond Christmas. There’s a holiday event every month and a “rom-com” on countless networks and platforms to celebrate it. In this exclusive Stage 32 webinar, you’ll learn how to write, develop, and produce a holiday rom-com. These films aren’t the same as straight Christmas movies or other romantic comedies. The holiday rom-com is its own genre, and you’ll find out the rules and norms that audiences require and how to break those rules effectively. You won’t just learn how to write these stories but also who the buyers are how and how to produce them. You will cover the budget ranges, how to generate the budget, how to monetize your film, and what you need to sell your film. It’s no longer just Hallmark telling these audience-favorite stories. Now, they’re being shown on networks and streaming platforms across the spectrum, giving you more opportunities than ever to get your project made. Your teacher is Matt Bierman, a studio executive and producer with over 25 years of experience. Matt has previously worked as an executive at Walt Disney Pictures, Paramount, Warner Bros., Village Roadshow, and more. He has also developed and produced movies for Hallmark and Nickelodeon. Matt has vast experience making low-budget holiday films and romantic comedies, including A LOUD HOUSE CHRISTMAS, CHRISTMAS WITH THE DARLINGS, LOVE AT FIRST BARK, LOVE UNDER THE STARS, and more. You’ll learn all about this hugely popular genre as Matt shares his vast knowledge and experience with you so you can discover how to jump into this in-demand genre by writing and producing your own movie today. Praise for Matt's Talent & Knowledge: “Matt Bierman is one of the best movie execs and producers that I have worked with” – Brian Levant, director of Jingle All The Way, A Christmas Story 2  

register for stage 32 Register / Log In