Barry's Accounting Services, Corp.
1852 Flatbush Avenue - 2nd Floor
Brooklyn, New York 11210
(718) 677-4006
E-mail:
clembarry@aol.com
 
Client Update - quarterly newsletter
 
 

 

The Film/Movie Industry

Tax accountant serving independents (indies), Cast and Crew. Most of them send us their information by Fax, UPS, FedEx, and Post Office. Call us if you are convinced that we are the right fit for your specific need; and you are ready to do business with us.

What we want from you

  1. Your Cell Phone number and E-mail address for quick communication.

  2. A paper copy of the last tax return you filed.

  3. Your Business Gross Income and expenses if you have a Corporation or LLC.

  4. Your Forms W2 and 1099 if you are an employee or freelancer. Your mortgage interest and real estate tax if you own a private home and a vacation homes; and income, mortgage interest, real estate tax and expenses for each rental property you own.

  5. Forms 1099 from your banks and stock brokers (Dividends, Interest Income, purchase of stock, sales of stocks, etc.).

  6. A copy of your Driver's license or State ID. (Starting in 2016, the IRS required the information be included on your tax return).

  7. Form 1095-A, 1095-B or 1095-C from your employer or union to show that you had Medical/Health insurance during the year. The information on the form would be included on your tax return to stop the IRS from charging you a penalty.

  8. Job related expenses you incurred that were not reimbursed to you.

  9. Your Credit Card or Bank Account Information to pay for the service.

NOTE: Clients must communicate with us and receive our approval before sending information to us.

Overview
Films that can be produced on shoe-string budgets can become blockbusters and strike gold at the box office. More than 560 movies earned over $18 billion at the box office in 2005, including $9.6 billion from international distributors. In April 2008, the movie "Prom Night" was released on a weekend to coincide with the upcoming prom season. It had resonated strongly with its target audience of teenagers and it earned $22 million in the first three days at the box office. It had cost $20 million to produce.

Special tax breaks are available for films that you produced in the USA. The production cost for each domestic film that you produced must not be more than $15 million and 75% of the total compensation paid for production must be for services performed in the USA by actors, actresses, directors, producers, and other relevant production personnel. Small-budget films have generated high returns at the box office and a big pay day for studio executives. One film that was produced on a budget of $6 million has generated over $48 million worldwide and another film that was produced on a budget of $13 million has generated $100 million in ticket and DVD sales worldwide. The uncanny ability of the script writers to produce quality scripts and the enduring popularity and drawing power of iconic actors/actresses have lured audiences to these films in droves.

Call Barry's Accounting Services if you are an independent filmmaker or have projects "picked up" from the "majors" (Form 1099, freelance), or if you are planning to make a film/movie that has been your life-long dream. Barry's Accounting Services has clients like yourself. Here is what we know about your industry.

 

Revenue

Ticket sales:
Ancillary sales:
DVD/video
Cable
Network TV licenses
Syndication
Foreign TV

Floor Plan/Chart

Post-production: (editing, scoring, titles, credits, dubbing, special effects, & sound tracks)

Principal photography: above-the-line (actors, directors, producers, & writers)

  below-the-line (sound stage, wardrobe, set construction, & labor)

Pre-production: (script development, set design, casting, crew selection, costume design, & location scouting)

Story rights acquisition: (concepts, books, & screenplays)

 

Itemized Expenses

  • Legal & accounting
  • Tax consultation & preparation
  • Script & score cards
  • Agent, producers, & casting director
  • Cast, crew, & extras
  • Photographers
  • Engineers (stage, light, sound, etc.)
  • Music reproduction license/contract
  • Marketing, distributors, & exhibitors
  • Transportation (air, trucks, & buses)
  • Stagehands & bellhops
  • Bond & medical insurance
  • Equipment, maintenance, & repairs
  • Lodging (house, motel, campers/tents)
  • Heaters
  • Meals
  • Tips backstage (doormen, porters, bellhops, dressers, etc.)


Thanks for your time. Have a nice day!


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