if you want to get paid for your AIC shows...

[erikamay]

i included this in the last meeting notes, but since there weren't a lot of folks at it, i wanted to repeat it here...

for all shows in march and beyond, the AIC will write checks to pay troupes/artists. at the end of 2007, the AIC will then issue 1099s for all cummulative payouts in excess of $600 (as required by the IRS).

this means you need to do one of two things:

1. if you have a troupe checking account and tax ID, send it to me. PMs will work.

2. if you DO NOT have a troupe account or tax ID, please send me the legal name and SSN of the individual who is willing to be the designated paid artist for your group. note: this person may be responsible for the related taxes at year end.

without this info, i won't be able to cut your troupe a check for any performances in march.

stay awesome,
erika

[DollarBill]

So the AIC has an EIN?

[shando]

This is good. It also brings up a question about our relationship with the Hideout. Does all box office revenue for AIC shows go through the Hideout and then they turn around and give us the proceeds for AIC's portion? Or does AIC handle all the proceeds and then cuts a check to the Hideout (and CT I guess for the CageMatch) for our rent? This is just a curiosity question, although I imagine there are tax implications for the AIC and the Hideout and ColdTowne depending on how this is done.

[acrouch]

Currently the box office income gets split at the box office before it goes through either organization (Hideout or AIC).

[shando]

Currently the box office income gets split at the box office before it goes through either organization (Hideout or AIC).

Cool. So for reporting purposes, AIC's revenue from the show is half the show take, and there are no rental costs that AIC has to track. Is that correct?

[Wesley]

How would the finance committee or some troupe that has set up their troupe as a business and gotten a tax ID number like to hold some sort of information session/roundtable on how to do this?

[acrouch]

Currently the box office income gets split at the box office before it goes through either organization (Hideout or AIC).

Cool. So for reporting purposes, AIC's revenue from the show is half the show take, and there are no rental costs that AIC has to track. Is that correct?

Yes, I believe that is correct.

[shando]

If AIC and the Hideout were savvy, you could call the difference between the normal rent on a given show block and what AIC actually makes and call that an in-kind (and tax deductible) donation.