Aaron Marcus explains which entertainment expenses actors and models can deduct on taxes. Movie tickets and streaming subscriptions may qualify, but he avoids claiming small deductions to dodge audit triggers. He recommends a conservative approach and points to a workshop with tax attorney Timothy Buck for more.
Hi, I'm Aaron Marcus, and welcome to another quick tip series. This one is dealing with taxes and can you take this as a deduction. So let me first preface this video by saying I'm not a CPA, not an accountant, not a lawyer, can't give you legal advice. I can only share with you information about what I heard and what I practice. So a question that's come up for me a number of times that I got from people is, You know, for actors and models, can you deduct the purchase of a movie ticket? Because a lot of models also do acting as well. But here's my understanding. My understanding is yes, that is a business expense. However, I also just wanted to let you know I never deduct purchasing a movie ticket for my taxes. I also, like for instance, I I pay a monthly fee for Netflix, which allows me to watch movies and television shows. Technically, I believe that I am allowed to deduct that. I don't. And here's the reason why. You know, I don't want to do anything that could potentially set off any bells and whistles that could grab people's attention, have people wonder, you know, whether this is a legitimate deduction or not. So I play things pretty conservatively, and I don't— And look, the reality is that these things Aren't a fortune for me anyway, so it's not like a huge loss. But I just write down the deductions that I know are absolutely clean and clear and there's no questioning, you know, about the deduction. So yes, my understanding is that you're an actor, you certainly can take that deduction when you are purchasing a movie ticket. You are watching a performance, you are learning, but it's not something that that I do, just because, like I said, when I'm doing my taxes, I'm pretty conservative with my deductions. So I hope this was helpful to you. Also, just to let you know, I've got an incredible online workshop about how to save money on your taxes. You will also learn great ways of preparing and putting your taxes together. I've got a wonderful guest, Timothy Buck, who is an actor and a tax attorney, and you can get more information about this by clicking the link below. I'm Aaron Marcus. Can't wait to talk with you again soon.
