Debt Management for Actors

The Business

New York

Debt Management for Actors

Sandra Karas, David Maurice Sharp, Timothy Sekk, and Dominic Comperatore

Monday, November 17, 2014

Monday, November 17, 2014



SYNOPSIS

Suzy Orman once said, "Every financial worry you want to banish and financial dream you want to achieve comes from taking tiny steps today that put you on a path toward your goals." Mounting debt from credit cards and student loans may feel Sisyphean in its struggle but you have the power to change the size of the debt. Managing debt takes discipline and savvy fiscal management. Fortunately, these skills can be learned. Like acting, it is a craft.  Listen to a panel of experts share how to make informed decisions on managing debt. Then, watch that debt hole shrink.

Discussion topics include:
*The good and bad qualities of debt
*The pros and cons of saving and investing while paying off debt
*Resources for debt management assistance


PANELIST BIOS

Sandra Karas
Sandra Karas is a member of Equity and SAG-AFTRA and an attorney in private practice in the areas of Financial Planning, Tax, Estates, Trusts, Contracts and Business Law. She is a frequent lecturer on tax, financial, estate and long-term planning, trusts and advanced directives to the theatrical industry and as well as to the legal and accounting communities. She is also a working actor and currently serves as a Member of the New York Local Board of SAG-AFTRA and Secretary-Treasurer of Actors’ Equity Association. Among other union leadership roles, she chairs Equity’s House Affairs Budget Committee and the SAG-AFTRA’s local Reinstatement Obligations Review Committee. She has authored articles on taxation for Equity News and other publications for more than 30 years. Ms. Karas spearheaded an effort to lobby for legislative reform in the Internal Revenue Code that resulted in the 1986 Tax Reform Act’s creation of the Qualified Performing Artist provision to allow for dollar-for-dollar deductions for low-income performers. This remains the Code’s first and only provision of its kind to address the needs of our industry and has benefitted thousands of members of AEA and SAG-AFTRA. Ms. Karas also currently serves as Director of the Volunteer Income Tax Assistance (VITA) Program located at the Actor’s Equity building in New York and has been a pro bono preparer and instructor for more than 30 years. Ms. Karas has a BFA from Ithaca College, a MA from Schiller International University in Berlin, a MFA from University of North Carolina at Chapel Hill and a JD from Syracuse University. She holds licenses in the areas of tax accounting, securities and investments, and the law, and is admitted to practice in all New York State courts, Federal District Court, United States Tax Court and the United States Supreme Court.

David Maurice Sharp
David Maurice Sharp's unique background allows him to relate to his audience both as an artist and as a financial professional. He danced with the Mimi Garrard Dance Theatre from 1993 to 2001, as well as with other companies including Lucinda Childs, Blondell Cummings, Sean Curran, Rachel Lampert, Heidi Latsky, Lonne Moretton, and Anna Sokolow. His choreography has been performed at such venues as Lincoln Center, La Mama, Soho Rep, Ensemble Studio Theatre, and HERE; and his video work, Shadow Dance, received a Silver Award from the Dance on Camera Festival. Most recently, as a financial professional, David worked for KCC LLC as a Director of their New York office, specializing in US and international restructurings, particularly those that involve public securities. David was a founding member and initiated the formation of the Thriving Artists Investment Club, a limited partnership established by a small group of artist / friends to educate one another about investing and personal portfolio management. David's book, The Thriving Artist: Saving and Investing for Performers, Artists, and the Stage & Film Industries, will be published in March 2015.

Timothy Sekk
Timothy Sekk is a founding member of the Artists Financial Support Group, an organization that seeks to educate artists on debt management and financial self-advocacy. He is a member of SAG-AFTRA and AEA, and has worked off-Broadway and across the country at Portland Center Stage, Cincinnati Playhouse in the Park, The Repertory Theatre of St. Louis, Baltimore Center Stage, Northern Stage, The Acting Company, and the Shakespeare Theatre Company. Television credits include Elementary, Person of Interest, Boardwalk Empire, All My Children, and the upcoming HBO series, Codes of Conduct, directed by Steve McQueen. He will next be performing in Splendid's by Jean Genet at the Centre Dramatique National in Orléans, France. Timothy holds a BA from Vassar College and graduated with an MFA and $126,000 in student loan debt from NYU's Graduate Acting Program. Visit www.artistsfinancial.org for more info.

Dominic Comperatore - Moderator
Dominic Comperatore is the founder of Empire Tax Prep, specializing in taxes for performers. An actor and licensed tax preparer registered in New York and California, he is also the designated preparer for the New York clientele of Chuck Sloan & Associates, one of the leading authorities on taxes for performers. As a working actor in film, television and theater, he brings an intimate knowledge of the issues particular to performers when dealing with the IRS. He maintains a bi-coastal clientele and is a proud member of SAG-AFTRA and AEA.