this post was submitted on 11 Nov 2023
68 points (95.9% liked)
Movies and TV Shows
2076 readers
48 users here now
A community for entertainment industry news and general discussion about movies and TV shows.
Rules:
- Be civil.
- Please do not link to pirated content.
- No spoilers in the title of submissions. And please use spoiler MarkDown in the body of discussions. This is a courtesy to other users.
- Comments solely criticizing headlines and/or journalism will be removed for being off-topic.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Lotta people not getting paid. Mostly behind the scenes.
Isn’t the point of the tax write off is because they paid them and it’s a loss?
If they get a % based on income/profit/whatever they get a % of 0, which is 0.
You get a write off… if you spend $200 million and wrote it off, now you have $200 million that you don’t need to pay taxes on next time.
Your answer shows you have zero understanding of how taxes work.
You’re saying the same thing. But it’s stupid to think like this either way.
Everyone pretends that write offs/loss carry-forwards are some dark magical thing that’s good for business.
It’s not, they’re terrible, it’s just less terrible than not being able to do it.
No one wants to write things down or take losses when they don’t have to.
No… people get paid unlike the original comment that I was correcting, and it’s not zero percent like the response to me. They will get the tax rate for their state and federal level and that amount say 30% of that 200 million would go against their profit.
It’s a shitty loophole, but people are getting paid and it’s not 0%
There are people paid on the net/gross performance of a film that I think they’re referring to- often in addition to a lower salary/wage. They don’t get paid any of that, but also doesn’t contribute to the loss.
It’s not a shitty loophole. And what actually happens if they post a $200M loss, is that when they make a $340M gain the following year it’ll only appear as a $140M gain on their taxes.
In reality it’s almost certainly netting out in the same year and nothing is carrying forward. Their $5B in profit will just be $4.8B instead because they lost $200M.
Either people are getting paid for the work theyve already done or warner bros is going to have a very large lawsuit on their hands and maybe a strike to top it off.