Lutz and Carr provides tax advisory, planning and compliance services to film and television producers, directors, writers, on-screen and on-stage talent, and those serving the industry. Our accountants also offer these services to all types of creative artists, including musicians, painters, sculptors and others. For more than 70 years, our accounting firm has helped these clients navigate their current tax positions, protect their wealth, maximize tax savings, and prepare for their future needs.
Although similar in some ways, those operating in the entertainment industry and creative artists also have divergent and specialized needs. We understand those needs and have the experience and knowledge to guide our clients efficiently and effectively in navigating their current tax position, managing their finances, and minimizing their tax liability.
For clients in the entertainment industry and those serving the industry, our entertainment accountants frequently advise on the tax benefits and potential pitfalls of working through a loan-out company and oversee these companies’ administrative and compliance functions.
For creative artists, we also carefully consider the artist’s ownership rights and determine how best to preserve each artist client’s legacy. Often that requires utilizing complex estate planning techniques, such as charitable giving and establishing private foundations in the artist’s name. Artists also rely on us for sales tax compliance services when making occasional or one-time large sales of their work under their state’s remote seller rules.
As part of our Entertainment Industry and Artists Group services, our accountants perform an in-depth year-end analysis to maximize our clients’ tax savings across federal, state and local jurisdictions throughout the U.S. and advise on and address tax implications when entertainment companies and talent work internationally. We ensure our clients can take full advantage of all available tax credits and incentive programs and make recommendations regarding their upcoming cash needs.
Lutz and Carr handles comprehensive in-house payroll processing, serving as the IRS reporting agent, which enables us to sign and file payroll tax returns and make payroll tax deposits and payments on behalf of clients utilizing this service. This is a value-add few accounting firms can provide.