PDA

View Full Version : Taxes


ihavebiglips
09-07-2006, 09:06 PM
Just curious...

Do you working writers get to deduct movie tickets, dvd purchases/rentals, home theater systems, etc?

It's not like I can just claim to be a writer (unsold) and claim all this crap, right? That'd be nice, considering the 600 dvds and home theater crap I've bought. :|

ihavebiglips
09-07-2006, 09:44 PM
I'm not a "working" writer, but I've made a little money off options that I wanted to keep, so I've deducted the cost of almost everything you listed.

According to my understanding, those are all deductible expenses for screenwriters. I've deducted them the last 4 years in a row and the IRS hasn't balked or audited me yet...

Interesting... wanna option my donkey pitch for 3 bucks?

ihavebiglips
09-07-2006, 10:02 PM
Let's hear the pitch... :D

Um... a semi-successful screenwriter buys a three dollar pitch from a donkey, so the donkey can claim a bunch of sh!t on his taxes? :bounce:

earlyman75
09-07-2006, 10:45 PM
You've started a bidding war! I'll give you $3.50, and I'll attach my Uncle Larry, who looks very much like a donkey, as the lead.

Beat that.

ihavebiglips
09-07-2006, 10:47 PM
Man, good thing I didn't reply to Boski yet. Going once, going twice...

Seriously though... what is the criteria for claiming this stuff? An option works for Boski, obviously...

I should have my brother set up his own Production company, and he can option stuff from me... haha, take THAT IRS!!!

ihavebiglips
09-07-2006, 11:16 PM
I guess I shouldn't complain. Though I work on a government contract, I'm on an island in the South Atlantic, so my salary is tax free...

Just realizing how much I've spent on movies and sh!t lately got me thinkin'. :bounce:

Jake Schuster
09-08-2006, 07:29 AM
The answer for me is yes, plus my accountant (who deals with a lot of people in the entertainment business) deducts mileage driven from my home to the cinema. :D

LateNightWriter
09-08-2006, 11:57 AM
If you are attending the Expo this year, there is usually a tax class offered by a screenwriters' tax accountant (sorry, I forget his name) which is very informative -- and entertainingly presented, btw. The instructor also distributes an excellent packet of instructions to follow.

In the class I took, when someone asked the inevitable question, "How can I claim a Schedule C as a screenwriter if I haven't made any money for over three years? Doesn't that make the IRS consider me a 'hobby'"?, he replied (paraphrasing) -- "The Ford Motor Company hasn't made a profit in years. Are they a hobby?" He went on to explain that all you have to do is prove that your intention IS to make money, i.e., you are sending out query letters hoping to get repped, produced, etc., and that proves you are a valid business.

Late Night Writer

ihavebiglips
09-08-2006, 06:23 PM
If you are attending the Expo this year, there is usually a tax class offered by a screenwriters' tax accountant (sorry, I forget his name) which is very informative -- and entertainingly presented, btw. The instructor also distributes an excellent packet of instructions to follow.

In the class I took, when someone asked the inevitable question, "How can I claim a Schedule C as a screenwriter if I haven't made any money for over three years? Doesn't that make the IRS consider me a 'hobby'"?, he replied (paraphrasing) -- "The Ford Motor Company hasn't made a profit in years. Are they a hobby?" He went on to explain that all you have to do is prove that your intention IS to make money, i.e., you are sending out query letters hoping to get repped, produced, etc., and that proves you are a valid business.

Late Night Writer

That kicks ass.... now to pound out my donkey script, so's I gots sumpthin' to market. :bounce:

Fortean
09-09-2006, 03:03 AM
I guess I shouldn't complain. Though I work on a government contract, I'm on an island in the South Atlantic, so my salary is tax free...

Just realizing how much I've spent on movies and sh!t lately got me thinkin'.If you let Boski option your screenplay, (based only upon a pitch), for $3, he'll have your "A-word" to kick around for a while; and, if you don't produce a screenplay based upon that pitch, (consult an entertainment attorney for legal advice), he might have grounds to bring a legal suit to recover his option and damages. The tax people may then be the least of your worries!