Jacinta Lam

Senior Associate

“If you have the right resources, there is nothing you can’t do.” – Larry Swartwood

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Jacinta Lam

    How does the 2017 Tax Reform Impact Loan-Out Companies in the Entertainment Industry?

    In December 2017, new tax laws (called the Tax Cuts and Jobs Act) were enacted and became the biggest tax reform since 1986. These new tax laws heavily impact many individual taxpayers and businesses, including those in the entertainment industry. Two elements of the new tax act that especially affect entertainment and media companies are the deductions for loan-out companies and the choice of entity type. New QBI Deduction As discussed in our previous Media Clips blog, loan-out companies are […]

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      Loan-Out Company: Can I Benefit From This?

      A loan-out company is a business entity in which an individual is the sole owner as well as the employee who furnishes their personal services to outside production companies. It is very common for performers and high income earners in the entertainment industry to form a loan-out corporation or a limited liability company in order to provide themselves with liability protection and to take advantage of tax savings. Although some of the advantages of a loan-out company are obvious, taxpayers […]

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