🎬 Actors & Estimated Taxes: A Quick Guide to Staying Ahead of the IRS

So, you booked the gig. Got the check. And now you’re wondering—"Wait… do I need to pay taxes on this already?"

Short answer: Yes. Long answer: Yes—but it’s not as scary as it sounds. Let’s break it down.

Why Actors Need to Pay Estimated Taxes

Most actors don’t get their taxes withheld automatically—especially if you're being paid as an independent contractor (via 1099). That means no taxes are taken out upfront, and the IRS still wants its cut.

If you expect to owe at least $1,000 in taxes this year, you’re generally required to pay estimated taxes quarterly.

Think of it like this: instead of one big tax bill at the end of the year, you’re breaking it up into 4 smaller payments. It's like paying for a Broadway show in 4 acts instead of all at once.

📅 When Are Estimated Taxes Due?

Mark your calendars. These are your cue calls:

• April 15 – For income earned Jan 1–Mar 31

• June 15 – For income earned Apr 1–May 31

• September 15 – For income earned Jun 1–Aug 31

• January 15 (next year) – For income earned Sep 1–Dec 31

• 
  

Note: If the date falls on a weekend or holiday, it's due the next business day.

How to Estimate What You Owe

Here’s a simple way to think about it:

• Take what you’ve earned so far this year (from acting gigs, voiceover work, modeling, etc.)

• Subtract any business expenses (headshots, coaching, wardrobe, mileage, etc.)

• Multiply the rest by around 25%–30% to get a ballpark figure for what you should be setting aside

• 
  

For example:

You earn $10,000 this quarter and spend $2,000 on legitimate business expenses.$10,000 - $2,000 = $8,000$8,000 x 0.25 = $2,000 → That’s what you’d send in as your estimated tax payment.

Want to be extra safe? Work with a tax pro who understands entertainment income (hi, I can help!).

Common Mistakes to Avoid

• Waiting until tax season to deal with it (the IRS may charge you penalties)

• Not tracking expenses (you could be paying more than you need to)

• Spending the full check without setting money aside

Here’s a golden rule for actors: Every check is not a paycheck. It’s gross income. Your job is to treat yourself like a business—because you are one.

Tips to Make It Easier

• Open a separate savings account just for taxes. Set aside 25–30% of each payment you receive.

• Use a simple spreadsheet or app to track what you earn and spend.

• Set calendar reminders a few weeks before due dates.

• Don’t wait until you're making "big money." Start the habit now.

Final Takeaway

Estimated taxes aren’t meant to stress you out—they’re meant to help you stay in rhythm with the IRS so you’re not scrambling later. Like memorizing lines or rehearsing before opening night, staying prepared makes everything smoother.

If you're unsure how to calculate what you owe or want a second pair of eyes, book a session with me. I specialize in working with actors and creatives just like you.

Let’s make tax time a standing ovation—not a nightmare.