It's tax time
- Thread starter gooberman
- Start date
I heard pre-tax time was a good period to go round asking companies to invest in film, so they could write part of it off.
Is this true? Am I late? I have a couple of people I could bug.
Is this true? Am I late? I have a couple of people I could bug.
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OKey cool, donating might be simpler...
Independent film forums should blatantly be free.
Your membership was free.
Most people's tax year (in the US) is Jan 1 - Dec 31. You have until April 15 to file your taxes, but any money spent in 2011 effects 2011 taxes, not the 2010 taxes people are currently filing.
Now, with that said, a lot of people are thinking deductions because it's on their mind so it couldn't hurt to ask. However, most of those big last minute deductions are in December. A big deduction won't help everyone either. The people it helps are those right on the edge of a tax bracket. These are made up numbers, but say someone made $81k. The Taxes on anything over $80k is $35% (again, made up). If they give away $1000 to something charitable or invest in a business venture then technically they only made $80k on paper, putting them in a 30% tax bracket.
Otherwise, if you aren't on the edge, giving that last $1000 means you're only saving the extra 30% or whatever on that thousand. So you're actually losing $700 in that case... Unless you buy equipment that you were already wanting and just looking at it as a discount. After all, as filmmakers, you can justify writing off a 60" LED TV as a business expense
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You haven't had to pay anything…
Membership was definantly free. You pay a little extra to get the added benefits and in doing so your helping indietalk stay on the web. Even a forum costs money to run.
This thread reminded me of a silly project I made a while ago.
I saw this beat poem about taxes and thought it was kind of ironic to have a hippy-ish style of poetry complaining about taxes. So I made a beatnik-ish video to go with it:
https://www.youtube.com/watch?v=VEdOB4KvKs0
I saw this beat poem about taxes and thought it was kind of ironic to have a hippy-ish style of poetry complaining about taxes. So I made a beatnik-ish video to go with it:
https://www.youtube.com/watch?v=VEdOB4KvKs0
It's tax time and I will have to borrow the $100 I need to buy Turbo Tax Small Business Edition to use the refund to finance my short.
Thanks for the detailed write up Paul. I see what you're saying... Maybe it's different outside the US. I know Australia has some forward thinking tax laws, that actually encourage this sort of thing...
I just wondered if I should get myself in gear or take it slow. I think I'll just relax and see what happens, as I'm not desparate for money.
I just wondered if I should get myself in gear or take it slow. I think I'll just relax and see what happens, as I'm not desparate for money.
