In this interview Heidi Hilton, who has an MBA and a background as a licensed financial advisor, and her partner Craig Coughlin a licensed investment advisor, give filmmakers a first look at the very significant impact the tax bill passed at the end of 2017 will have on their work, companies, and tax bills in 2018. Go to https://gumroad.com/l/2018taxes
Topics addressed include:
- How congress brought back and significantly changed the Section 181 deductions filmmakers relied on heavily until 2016. If you are relying on Section 181 as almost all producers will do, it’s critical to understand the changes.
- What you must do in order to deduct your film production expenses in 2018
- How film production expenses in 2017 can be deducted.
- How changes to the tax code will impact “personal service corporations” like DPs, Actor Loan Out companies, etc.
- How changes will impact employees that produce, write, act, on the side.
- When important provisions of the tax bill are set to expire.
This interview is no replacement for working with an investment advisor or financial professional to build your film projects, manage your company, or pay your taxes, but it can help you understand when, if, why, and how you may need to make some significant changes to how you do business this year.