There is one U.S. federal tax incentive to encourage investment in film production, and it was reinstated in the new tax bill that just passed Congress. Section 181 allows produces to immediately deduct the qualifying expenditures in the year they occur for the first $15 million to $20 million spent.
So what does that mean for you?
To learn more about Section 181 and the great benefits to independent filmmakers, a free seminar at Sundance is being offered for free. Thanks to the generosity of their sponsors, law offices Deutsch, Levy & Engel, Chartered’s Corky Kessler invites you to the panel seminar during Sundance on January 24th from 2pm to 5pm is now FREE. Seating is limited. To register, please copy and paste the link below, and if you want, please forward it to others. Because no matter what I do, I cannot paste in the right website, I am referring you below to Corky and Film Utah’s email. Take it from there!
Section 181: What Filmmakers Need to Know — Panel with Entertainment Attorney Corky Kessler
Section 181 was just reinstated – the ‘runaway’ production incentive – which allows producers to immediately deduct the cost of qualifying expenditures in the year they offer rather than having to spread or amortize those costs over a period of years after the film goes to market.
From: FilmUtah [info AT filmutah.org]
Sent: Thursday, January 06, 2011 9:02 AM
To: Corky Kessler [Kessler AT dlec.com]
Subject: Financing Your Film: Avoiding the Pitfalls from Business Plan to Distribu
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Financing Your Film:
Avoiding the Pitfalls from Business Plan to Distribution
High West Distillery
703 Park Ave
Park City, UT 84060
Monday January 24, 2011 from 2:00 PM to 5:00 PM
Sponsors SOUTHWEST MUSIC PRODUCTIONS
You’re invited to the FilmUtah seminar during the Festival in Park City.
Louise Levison, President (moviemoney.com)
“Corky” Kessler, Ent. Attorney, Deutsch, Levy & Engel
Todd Hein, Senior Manager Federal Tax Unit, Crowe Horwath
James R. “Jimmy ” Spitz, AK Consulting and Distribution, LLC
Doug Mankoff, Producer, President of Echo Lake Productions
Moderator: John Corser, Line Producer
• The importance of Copyright and “Chain of Title”
• When is a screenplay ready to be financed?
• How to build a pitch team and who to stay away from.
• How to attach talent: Casting, agents and managers.
• How to attach Director, DP, Production Designer and keys.
• Do I need an attorney, an accountant and a line producer?
• How to prepare the production budget and schedule.
• Why do a business plan?
• Legal and business pitfalls in the process.
• How to monetize the tax rebates and credits.
• The importance of financial projections and cash flow.
• How and where to look for funding.
• What to look for in distribution deals.
• How to qualify investors and recognize scams.
Click on the link below to register or RSVP.
If you have any questions about the event or how to register contact:
bekah AT Filmutah.org
Or on January 30, Corky Kessler will be conducting a Section 181 and Funding Issues Seminar in Los Angeles on Sunday, January 30, 2011 from 2:00 p.m. to 4:00 p.m. He will also have an accountant, who is well versed in Section 181, being part of the Seminar. The space can only hold 60 people. If you would like to attend, please register at your earliest convenience. The website for registration is below. This is not free.
H A L “C O R K Y” K E S S L E R
225 W. WASHINGTON ST., SUITE 1700
CHICAGO, ILLINOIS 60606
312-346-1460 (v) | 312-925-2110 (m) | 312-853-8487 (f) | kessler AT dlec.com
DL&E DEUTSCH, LEVY & ENGEL, CHARTERED