- Cash payments are reported to the Internal Revenue Service.
- You will be liable for taxing on this income.
Same Day Pay:
Same Day Pay = PAY DAY!
- Most of the time you will paid same day.
- Usually this payment is in the form of a business or personal check, however you can also be paid by cash as well.
Protect What You Earn:
Don’t let your money get stolen.
- Once you get that cash put it in a safe place.
- We hear stories all the time of models getting cash stolen on set or before they have a chance to get it in the bank. Don’t let it happen to you.
Check Your Checks:
It’s important to observe a few things when receiving a check.
- Make sure the payment is the same amount that you agreed on in the paperwork.
- The check should be dated for the day of the shoot, NOT a date in the future.
- Do NOT deposit this check into your bank account. Since these checks are larger than what you typically deposit into your account, the bank will hold the funds for one to seven business days, delaying your access to it.
- YOU MAY BE CHARGED A FEE TO CASH A CHECK AT THE BANK, IF YOU DO NOT HOLD AN ACCOUNT WITH THEM (USUALLY AROUND $5)
- IF YOU DO NOT NEED THE FUNDS IMMEDIATELY, YOU CAN ALWAYS DEPOSIT THE CHECK INTO YOUR BANK ACCOUNT and wait for the funds to be available.
Payroll is in the form of a check; you should follow the same banking guidelines as a normal check. However, there are a few key differences when dealing with a payroll check.
- Taxes taken out already like a regular job.
- That company sends the proper tax withholding’s you’ve marked on your W-9 Form the day of the shoot and sends it to the IRS.
- Generally, payroll funds are mailed to you or your agency 10 to 14 business- days after the shoot.