jls4
Veteran
Jls4,
Just curious.... when you list your budget for your films, do you include the cost of your equipment? I've heard on other boards that I shouldn't include equipment costs (full costs). I'm going to talk to my accountant this week to see. If this is the case, then my new budget for my film is closer to $55,000. I guess this makes sense since I've already included the equipment costs on my taxes over the last few years.
Todd
I include equip costs because literally that's all I have. At least upfront. We weren't SAG. So I didn't have to pay out of pocket expenses directly to Cast. My cast only makes money if the movie makes money. I promised them as I've done with everyone involved, that I will let them see the Receipts and the Check. So if I claim something, I have to back it up OR I have to pay it out of my own money.
So I can't say what you should do about saying what money you had. I would include it all, even costs that you "think" you would incur upon a sell and your I.O.Us if a distributor asks.
Cast: Direct and IOUs
Crew: Direct and IOUs
Equipment
Production/Post Production Costs
But that's just me. I'm not saying it's right. I'd love to hear what other people have to say on this matter, though. You've made me curious.