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In this must-listen episode of the Inner Circle Podcast, Shane and Lydia Hurlbut dive deep into the financial realities of the film industry with accountant and business manager Russell Hand. Whether you're a seasoned filmmaker or just starting out, this episode is packed with actionable financial wisdom to help you navigate the business side of your creative endeavors.
"You borrow money when you don't need it, because when you need it, they won't give it to you." –Russell Hand
Russell shares his expertise on the importance of incorporating as an S Corp for freelancers earning over $150,000, and how to avoid common tax pitfalls. He also provides clarity on which expenses are deductible for filmmakers and how to document them properly. Understanding the nuances between LLCs, S Corps, and C Corps is demystified, empowering you to choose the right business structure.
Even if you're living paycheck to paycheck, Russell offers practical tips on budgeting, saving, and investing for the future. He also sheds light on the various types of insurance needed in the film industry, and how to choose the right coverage for your needs.
Tune in now to gain actionable advice and real-world examples to help you make informed decisions and build a secure financial foundation for your creative career.
Subscribe to the Inner Circle Podcast for more valuable insights and interviews with industry experts. Share this episode with fellow filmmakers and creatives who want to take control of their financial future.
More from Shane Hurlbut, ASC for cinematographers and do-it-all filmmakers:
