BOSB FINAL STUDY GUIDE

Question 1

The form you fill out when beginning work as an employee

Answer 1

W-4

Question 2

The form you receive at the end of each calendar year indicating your total
salaried earnings and the total you have paid in taxes

Answer 2

W-2

Question 3

received by an independent contractor, as opposed to a salaried employee

Answer 3

1099

Question 4

indicates earnings on which no taxes have been paid

Answer 4

1099

Question 5

a form on which you can claim personal allowances in order to alter the
amount of taxes removed from your paychecks

Answer 5

W-4

Question 6

not a form mailed at the end of a year indicating tax liabilities

Answer 6

W-4

Question 7

upon graduating from an accredited institution with a degree in theatre, to what are you entitled at each job
interview or audition? List entitlements of which you are aware.

Answer 7

ABSOLUTELY NOTHING

Question 8

What do you call the feeling that some artists exhibit after leaving school that communicates they
feel they deserve a successful career?

Answer 8

Certainty

Question 9

Many agents routinely do what?

Answer 9

run google searches on their clients

Question 10

What is “a listing of all of the characters who appear in [a] script and some descriptive information
about each role to be cast”?

Answer 10

Breakdown

Question 11

Casting directors often make up their minds about your rightness for a role in the first—

Answer 11

2-3 seconds

Question 12

Your acting resume should be no longer than __________.

Answer 12

A Page

Question 13

Which can artists (actors, designers, and directors) NOT claim as a tax deduction?

Answer 13

D.) None of the above. (almost always can be used as a tax deduction)

Question 14

Which is crucial to successfully deducting business expenses from your taxes?

Answer 14

Keeping Receipts, understanding what can be deducted, actually filing taxes

Question 15

For how long should you keep tax receipts related to you as a business in case of an audit?

Answer 15

3 years or 7 years

Question 16

Are individual artists (designers and actors) considered for-profit or not-for-profit business in terms
of taxes?

Answer 16

for-profit

Question 16

If you are paid on a 1099, you are considered an independent contractor and therefore probably not
covered by the producer for _______________________.

Answer 16

Workers Comp./compensation

Question 17

What is the term used to describe the mixing of personal and business financials in record keeping?

Answer 17

commingling of funds

Question 18

What is defined as the money earned beyond total expenses?

Answer 18

Net Income

Question 19

Which are authorized by law, and by their clients, to submit and pitch them for all appropriate work
opportunities?

Answer 19

Talent agents

Question 20

“Of the 100,000 or more people in the United States who consider themselves professional actors,”
about what percent actually make their livings as actors?

Answer 20

2-3%

Question 21

What does LORT stand for?

Answer 21

League of Resident Theatre’s

Question 22

Offer two examples each of good vs. bad debt.

Answer 22

Good: Buying a house, college/student loans, reasonable car

Bad: pyramid scheme, gambling, high interest cards

Question 23

Which is not a potential premature move in the business?

Answer 23

D.) none of the above

Question 24

What is a show bible?

Answer 24

full series info (more for TV), all contacts, auditions, interviews, connections

Question 25

When targeting buyers, which should you know?

Answer 25

Your type, the people working on a project, the types of characters in a project

Question 26

Your bullseye is a role in which your performance is what?

Answer 26

Flawless

Question 27

Which term refers to the lines you’ll be required to recite at your audition?

Answer 27

copy/sides