We are Dark City Media Group, and I am seeking an accountant with experience in the Entertainment industry. Please do no apply if you DO NOT have experience with references whom we can contact for a referral.
You must be familiar with the traditional accounting tasks of taxes, auditing and financial analysis, and cost control, but also a plus if you are up to date and familiar with Section 181 Tax Deduction:
-100% of the motion picture costs are deductible in the same year of investment.
- 75% of the motion picture must be shot in the US to qualify for Section 181.
- There is a 15 to 20 million dollar budget cap.
- There is no minimum film production budget cost.
- TV pilots, TV episodes (up to 44), short films, music videos and feature films all qualify for Section 181.
- Section 181 can be applied to active income or passive income.
- Investors can be either individuals or businesses.
- Section 181 is retroactive.
- There is no expectation for film distribution or film completion.
- The motion picture’s corporation (LLC) issues Schedule K-1’s to the investors so they can take advantage of Section 181.
You must also be familiar with the state tax incentives and all foreign countries tax incentives too for filming in their countries.