Section 181 ?

L

lambert

Well-known member
Section 181 is a tax writeoff that allows investors to take a substantial writeoff. Is it back and if so what are the changes ? Thanks
 
Hmm.....not aware of a 'section 181.' I HAVE used the Section 179 deduction
on past years of taxes. It allows you to deduct the entire purchase price on expenses
(such as a camera or computer or other tools for your business) rather than deprecating
them over a period of years.
 
Ok sorry for not being clearer. It's a provision in the tax code that was put in over a decade a go to get more films produced in the USA. It's been taken out put back in almost yearly. It basically allows an investor in a film to writeoff passive loss against passive gains. Hope I'm explaining it correctly. I'm not an accountant and explaining complex tax issues are not my strength. Just curious if it's in the tax bill
 
Barry Green had a wonderful post and illustration back when Michigan was giving the store away with incentives of how a producer could use section 181 and incentives to guarantee 70 or 80 percent of your film budget.
 
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