Accounting And Tax Services For Writers

accounting and tax services for writers

Accounting & tax services
for writers who want to live

the creative dream

Can you live your creative dream as a professional writer AND ensure your accounting & taxes are in order?

Absolutely! Writers’ Room CPA offers professional accounting and tax services for writers designed specifically for creative professionals.

As a successful professional writer – whether you are a screenwriter or a TV writer in Los Angeles or New York — you are living the dream. But you can’t exist on dreams alone. To help you navigate accounting, budgeting, payroll and taxes you need the knowledge of tax and bookkeeping experts who understand entertainment accounting. At Writers’ Room CPA, it’s OUR creative dream to make all your numbers add up. After all, accounting and tax services for writers is our passion.

accounting & tax services for writers

Hi, I'm Trina Rozen, CPA

Writers’ Room CPA offers accounting and tax services
designed specifically for writers.

As an entertainment accountant with more than 15 years of industry experience, I understand the unique financial needs and challenges writers face.

I began my career in entertainment accounting at Cast and Crew Payroll in Burbank as the Manager of their Accounting Team. As the Director of Accounting at CBS Studios for over 10 years, I made note of the many costly mistakes that creatives make and I vowed then to help you navigate the ins and outs of accounting and tax compliance.

I’ve designed and implemented a series of tax-saving strategies and can’t wait to put them to work for you!

Get Control
Over Your Finances

Avoid Costly
Mistakes

Outsource Payroll,
Bookkeeping, & Tax

Get Your Financial House In Order Now!

Financial Services & Packages

As a professional writer, you are also a small business owner. Like any other small business owner, you are responsible for all the operations of your business – tracking expenses, bookkeeping, tax accounting, complying with local business codes, paying taxes, saving for retirement and more. Keeping accurate financial records can be overwhelming when all you really want to do is create!

Working with Writers’ Room, CPA can help you:

  • Comprehensive Monthly Bookkeeping
  • Full-Service Payroll
  • Manual Payroll Calculations
  • Tax Planning
  • City Business License Filing
  • State Compliance Filing
  • Establishing IRS-qualified Solo – 401K
  • Establishing profit-sharing plan
  • Tax planning for annual retirement contributions
  • Tax planning for screenwriters with long term projects

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Comprehensive
Compliance

  • monthly bookkeeping
  • shareholder payroll services
  • annual business license filing
  • annual tax preparation

Comprehensive
Compliance + Tax Planning

  • monthly bookkeeping
  • shareholder payroll services
  • annual business license filing
  • annual tax preparation
  • manual payroll calculation
  • tax planning

Business
Management

  • monthly bookkeeping
  • shareholder payroll services
  • annual business license filing
  • annual tax preparation
  • manual payroll calculation
  • tax planning
  • Audit representation
  • business management (bill pay)
  • annual 1099 filing
  • additional employees

Enjoy Financial Freedom

At Writers’ Room CPA, we understand the most pressing of your needs – budgeting your income to maintain your lifestyle and at the same time being able to reserve enough cash to pay taxes and set aside money for retirement.

We fully support you with accounting and tax services targeted expressly to writers.

  • Get answers to questions about your taxes that keep you up at night
  • Get serious about tracking and saving money through professional accounting and bookkeeping practices
  • Get ready to build a foundation for retirement for financial security for the coming years
  • Get guidance on your professional business structure whether you are a sole proprietor or S-corporation
  • Get the tax accounting services and bookkeeping services you know you need

You Write the Words. We Write the Checks.

FAQ

Accounting & Financial Strategies For Writers

You started writing because you love it, but it can be years before you become a “working” writer. Eventually as your craft blossoms into a profit-generating enterprise you will begin to wonder — at what point does it make sense to incorporate?

The short answer … You are ready to incorporate if you consistently earn $150,000 and above on annual basis. Other important considerations are your legal, agency, and management fees. Are they above $15,000 annually? If you do not pay more $15,000 or 10% of your earnings, it might be more beneficial for you to be an employee of the production company who pays an employer share of FICA taxes on your behalf. You might be advised to start a Loan Out to be able to write off expenses, however, someone earning less than $150,000 might not generate enough business expenses to offset Employer FICA taxes. I perform a comprehensive review of client’s expenses to determine whether incorporation makes sense.

It’s worth incorporating only when the amount of money you save offsets the administrative cost of establishing and maintaining the corporation.

Writers and other creative artists can establish what is known as a “Loan-Out S-Corporation.” This means that the corporation will “loan out” your creative services to the production companies for which you write.  A Loan-Out S-Corporation is a one-shareholder entity. Even though the main benefit of corporate structure is a limited liability for the owner(s), it presents numerous tax benefits for Writers.

The Loan Out S-Corporation is a desirable business structure for some writers who have consistent and solid earnings and pay significant legal, agency, and management fees.

A very important calculation to perform prior to incorporation to ensure that the tax benefits of having a Loan Out S-Corporation outweigh the record keeping, payroll service, tax preparation, and corporate compliance taxes. It is a complex calculation with many movable parts dependent on Writer’s overall income and expenses. The goal of this calculation is to save enough in personal income taxes for the Shareholder to offset compliance and record keeping costs of the Loan Out S-Corporation.

Loan Out Corporation is complex and requires professional record keeping, a subscription to payroll service and a separate tax return. Consequently, a writer should engage a qualified Accounting Firm that specializes in Entertainment Accounting to handle all corporate reporting requirements.

In addition, we strongly recommend hiring an attorney when forming an S-Corporation. For the majority of our clients, their entertainment attorneys will set up their S-Corporation at no additional charge.

Sole Proprietor – Schedule C Filer
Some of my clients are happy sole proprietors for years and love the simplicity of the business structure, minimal filings, less fees paid for compliance, and the simplest tax structure. Another pro for being a sole proprietor is that it is easy to start as well as to close. You don’t need the assistance of an attorney and you can use your own name as a business name.

S-Corporations – “Loan Out”
S-Corporations are more complex. They require separate tax returns and a payroll service. We strongly recommend hiring an attorney when forming an S-Corporation. For the majority of our clients, their entertainment attorneys will set up and keep up their S-Corporations at no additional charge.

Writers and other creative artists can also establish what is known as a “Loan-Out S-Corporation.” This means that the corporation will “loan out” your creative services to the production companies for which you write.

A Loan-Out S-Corp is a one-shareholder entity which loans out personal services of its shareholder. Even though the main benefit of corporate structure is a limited liability for the owner(s), it presents numerous tax benefits for writers.

The Loan Out S-Corporation is a desirable business structure for some writers who have consistent and solid earnings and pay significant legal, agency, and management fees.
Another important aspect to consider, do the tax benefits of having a Loan Out S-Corporation outweigh the record keeping, payroll service, tax preparation, and corporate compliance taxes? Loan Out Corporation requires professional record keeping and subscription to payroll service. Consequently, a writer should engage a qualified accounting firm to handle all corporate reporting requirements.

Get Your Financial House In Order Now!

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