As entertainment accountants, Mauldin & Jenkins provides services to businesses and individuals throughout the entertainment industry. Our team delivers personalized service to athletes, actors, models, writers, musicians, producers, and directors all while providing added value. Our partners provide expertise in accounting, auditing, tax, and consulting. We cover all the details so you have a seamless experience.
Film Tax Credits
When qualified production costs made in Georgia exceed $500,000, there are two options to qualify for the Georgia Film Tax Credits:
- Have a voluntary film tax credit audit by the Georgia Department of Revenue
- Have an independent CPA firm perform agreed upon procedures and issue a comfort letter
The advantage of the audit is that the film tax credits amounts will be verified and certified by the state. The disadvantages are that it can take a considerable amount of time to go through the process and there is no two-way communication. Many production companies prefer to use an independent CPA firm in order to be able to sell the credits much sooner and add a consulting aspect to the process.
Georgia’s transferrable Film Tax Credit has proven extremely popular, contributing significantly to a sharp rise in film and television production in the state over recent years. With Georgia now recognized as the “Hollywood of the South,” high demand for this lucrative credit drove state tax authorities to revamp the program in 2020; updated rules including mandatory audits of productions that utilize the credit went into place on January 1, 2021.
Click the image to learn more about these mandatory audits and how Mauldin & Jenkins can help you.
Tax Planning and Compliance
We help our clients achieve their business and personal financial goals by taking a proactive planning approach to minimize tax obligations, and by providing the specific and relevant information to make educated planning decisions for the future. There are unique tax challenges and opportunities in the entertainment profession that we are equipped to handle.
We serve the following clients:
- Production companies, producers and directors
- Actors, models and writers
- Musicians and performers
- Professional athletes
Mauldin & Jenkins recognizes that a contributing factor to long-term success in the entertainment industry is the development of trusted relationships with professionals. To facilitate this, our high quality, comprehensive accounting and tax services allow our clients to focus on their personal continuing evolution and company’s success.