My daughter was cast in a traveling production of a Broadway play. She will be earning $1200 for her 4 performances. The production company will be sending us a contract and application to the local actors union. She is not required to be in the union, but would there be a benefit? At her age do I need to report the income?
Basically what should I do to prepare her/our family for the income? Will she be paying taxes? Should we open a trust or just a savings account?
$1200 is not life changing but I see more gigs coming her way in the future. She really loves performing. I want to have her money saved for her in the most responsible way I can. What should I do?
Submitted August 02, 2018 at 12:57PM by coolhands1 https://ift.tt/2OziiGO
