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View Full Version : New Tax Laws??? Filmmakers can claim 100 % deduction???


Lance Crow
04-19-2005, 10:25 AM
I've been hearing a lot about this of late but thus far, neither my accountant nor myself has been able to pin down specifics...

Supposedly, in the fall of 2004, a new filmmaker friendly section of the tax code was passed which allows a filmmaker to claim any money he puts into "a qualifying audio-video" project as a deduction... all 100 % of it?!!!

I've heard it has something to do with section 181 of the tax code.

Can anyone confirm or deny this info?
Thanks.

cmmora
04-19-2005, 11:06 AM
I searched around the internet and came across this. I'm a writer not or accountant, so have your tax guy interpret what it all means. Also, if you can, ask him if short films with mini-budgets qualify.

Keep me posted.

cmmora




www.cfoyesq.com/ARTICLE DRAFT 1.0.htm (http://www.cfoyesq.com/ARTICLE)

www.legalelite.com/Email/e-smoore-tax.htm (http://www.legalelite.com/Email/e-smoore-tax.htm)

www.ad-mkt-review.com/public_html/docs/fs100.html (http://www.ad-mkt-review.com/public_html/docs/fs100.html)