You will be redirected back to your article in seconds

Tax News You Must Know

Tax News You Must Know

This is from “Corky” Hal Kessler of Levin Ginsberg:

Federal tax incentives under Section 181 allow a taxpayer who invests in a qualifying film or TV project to have a 100% loss when the money is spent. No capitalizing of the expense is necessary. This can wipe out or substantially effect someone’s federal tax liability by investing. This law sunsets, unless extended, at the end of this year. When you package this with a good state incentive you can promise a taxpaying investor a recovery of his or her investment of 50 to 77 cents on the dollar regardless of any sale or distribution of the film. In addition, under Section 199, you can get a deduction opf 6% from your taxable income returned on a film or TV project and from 9% frm 2010 on.

This Article is related to: Uncategorized and tagged ,

Your email address will not be published. Required fields are marked *