Bob K Posted July 23, 2014 Author Report Share Posted July 23, 2014 Jan, remember too that FICA includes both Social Security and Medicare. The amount you pay in SS tax over your working lifetime determines the amount of your SS monthly benefit when you retire. So, don't minimize too much if you are healthy and expect to live a long time. By no means have I figured out how to maximize value. Somewhere there's probably a spreadsheet where you can plug in all the variables and know what's best as you proceed through your working life. Quote Link to comment Share on other sites More sharing options...
studiomprd Posted July 23, 2014 Report Share Posted July 23, 2014 philip: " This means that if you are on a job the rental costs for gear to cover the first 3 days after your stuff is gone or busted is on either you or the prod. co, not the insurance company. " ... and as we discussed in the separate thread, the production pays the rental (deductable) for those three days, except it isn't your equipment they are renting those three days, it is the replacement equipment. bobK: " By no means have I figured out how to maximize value. " Eric has! Quote Link to comment Share on other sites More sharing options...
Jim Feeley Posted July 23, 2014 Report Share Posted July 23, 2014 For more detail (mixed in with a little WAG) on the 72-hour insurance issue, check out this recent thread started and driven by Phil: Bob, when you're talking about the independent contractor kerfuffle in Minnesota, are you talking about a battle between the federal IRS or a state revenue agency? The link you provide goes to a MN government page; so that part's clear. But I don't understand how or if the federal IRS applies different standards to different states; I get that different offices might be staffed by people who chase after different industries and issues...but a different policy? A quick (and probably incomplete) Google search didn't provide any enlightenment. Any pointers to anything? For useful info on independent contractor vs employee status, I check out the always-helpful info written and/or edited by the lawyers a Nolo: Self-Employed Consultants & Contractors http://www.nolo.com/legal-encyclopedia/consultants-contractors And this article might be especially pertinent here: Preserving Your Status as an Independent Contractor Follow these strategies to avoid being reclassified as an employee. http://www.nolo.com/legal-encyclopedia/preserving-status-independent-contractor-30177.html Quote Link to comment Share on other sites More sharing options...
Tom Morrow Posted July 24, 2014 Report Share Posted July 24, 2014 'Accepts no liability' is lawyerspeak for 'is liable for and trying to avoid that liability'. It is actually sort of a nifty trick that even by signing their 'accepts no liability' thingy I can still sue them for what they were liable for all along. Quote Link to comment Share on other sites More sharing options...
OmahaAudio Posted July 25, 2014 Report Share Posted July 25, 2014 I always feel very good when I park in a supermarket parking lot that has "we cannot be held responsible for any damage to your car" signs posted. The proper wording would say "we refuse to be held responsible...". Legally the reply is "You sure as hell CAN be held responsible and you damn well WILL be held responsible if anything happens to my car..." Quote Link to comment Share on other sites More sharing options...
VASI Posted July 27, 2014 Report Share Posted July 27, 2014 I found this article from IATSE 695http://www.productionrecording.com/fyi/PDF_fyi/RentIns.FieldMan.11.3.pdf Quote Link to comment Share on other sites More sharing options...
Bob K Posted July 29, 2014 Author Report Share Posted July 29, 2014 Jim, the fight in Minnesota was between the IRS and production companies. Some of the companies and some freelancers (independent contractors) formed the Minnesota Film and Video Association to oppose the IRS. I still have some reports on the dispute written by association lawyers and accountants. Ultimately, the IRS published "Employment tax procedures: classification of workers within the television commercial production and professional video communication industries" in 1994. It's 18 pages. Then the MN tax agency adopted the new (or similar) rules. I didn't say the IRS applies different standards in different states. Someone else in this thread suggested that. Quote Link to comment Share on other sites More sharing options...
Jim Feeley Posted July 29, 2014 Report Share Posted July 29, 2014 Bob, thanks for the title and sorry for my misattribution. So searching on your title, I find this page from 2003 http://www.mca-i.org/en/art/?9#genguide Feb 1, 2003 5:45 PM CST Print | More options ▼ IRS Guidelines - Film & Video Industry Contractors Governing Employee-Contractor Issues in the Film and Video Industry The following guidelines may not take into account any recent changes in IRS regulations. However, this IRS Training Guide is still being used to train agents and is dated 1996 - http://www.irs.gov/pub/irs-utl/emporind.pdf Perhaps there's a more recent document, but I don't see it. Bob, thanks for this....interesting.... Quote Link to comment Share on other sites More sharing options...
Bob K Posted July 29, 2014 Author Report Share Posted July 29, 2014 Jim, the first document you linked is the same as what I have, except mine begins with Section 1. Intoduction, and it has two appendixes as well. My document says it was published by The Bureau of National Affairs, Inc., and "obtained by BNA May 13, 1994." I don't recognize the other document you linked. Bottom line, it appears the IRS recognizes that independent contractors working in the film and TV industry are legitimate. That contradicts what some people who posted here believe. It also appears that these guidelines are in effect across the country. Vasileios, thanks for linking the IATSE document. Looks like there's some good info about insurance there. Quote Link to comment Share on other sites More sharing options...
maniemjr Posted September 11, 2014 Report Share Posted September 11, 2014 I have refused to sign contracts that exclude my equipment from coverage, and will often get production to sign my contact which states they are liable for damages etc. I have had many things damaged, including recently a lost slate, all of which have been repaired or replaced at productions expense. You have to be your own advocate, nobody else is looking out for your interests for you, so make sure you are covered Hi Wandering Ear. Can I have a copy of the contract/waiver which I can make reference? Or anybody here? Thank you. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.