Hollywood Panics Over Potential Loan-Out Corporation Risks
Hollywood was thrown into panic when payroll company Cast & Crew announced that the California Employment Development Department (EDD) planned to issue warnings to loan-out companies, potentially disrupting the way freelancers in the industry are paid. Although the EDD later clarified it was not banning loan-outs, the incident highlighted the financial complexities and benefits of these corporate entities, which allow freelancers to manage their income and taxes more effectively.
