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roninfilmer
02-21-2012, 10:07 PM
To anyone who has experience in this, I am confused about the tax portion on the profit made from selling the film. Does that need to get reported, since I'm sure the distributer has listed the purchase as a expense? And if so what are the tax amounts and process needed to go through during this phase of the project. I am overall trying to get a sense of what my net profit will be after expenses and taxes so I can budget appropriately. Thanks

Nick Soares
02-22-2012, 08:34 PM
Do you have a corporation? Or a production or film business? if not, you will have to claim every dollar as a profit.

roninfilmer
02-22-2012, 09:51 PM
No I do not have either. When you claim every dollar as profit is the tax on that higher than if you have a business tax or are you saying there is no tax on it and that you would just take it as profit. This part is a bit confusing to me. Email is roninfilmer132[at]gmail.com if you feel is better to email it.