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The $55M saga of a Netflix series nobody will ever see

nytimes.com

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Re: The $55M saga of a Netflix series nobody will ever see

#31

Post by akgoel »

nickelpro wrote: post #22
paxys wrote: post #6

Losing the money to a crazy director who gambled it away is at least better than actually finishing the series but never releasing it to get tax write-offs (looking at you Max).

This isn't how tax write-offs work. The expenditures in the production of a film or TV series are always deducted from taxable net income regardless of whether the final product is released or not. There are a plethora of reasons not to release a creative work. For example, you don't want to spend any more money on music licensing, editing, marketing, etc, that is unlikely to be recouped. "Tax write-offs" simply isn'…

Certain expenses will be capitalized while the film is available for release/streaming. Depreciation/amortization will be years for the life of the film. But if you scrap it right away, you can deduct those expenses immediately.

Re: The $55M saga of a Netflix series nobody will ever see

#32

Post by anonymouskimmer »

nickelpro wrote: post #22
paxys wrote: post #6

Losing the money to a crazy director who gambled it away is at least better than actually finishing the series but never releasing it to get tax write-offs (looking at you Max).

This isn't how tax write-offs work. The expenditures in the production of a film or TV series are always deducted from taxable net income regardless of whether the final product is released or not. There are a plethora of reasons not to release a creative work. For example, you don't want to spend any more money on music licensing, editing, marketing, etc, that is unlikely to be recouped. "Tax write-offs" simply isn'…

> For example, you don't want to spend any more money on music licensing, editing, marketing, etc, that is unlikely to be recouped.

I have no idea what "Max" is in the GP, but another big reason to not release a creative work is if audience feedback was negative enough that even releasing it for free would hit the value of your brand.

Re: The $55M saga of a Netflix series nobody will ever see

#33

Post by alex_lav »

anonymouskimmer wrote: post #32
nickelpro wrote: post #22

Earlier quoted context omitted.

This isn't how tax write-offs work. The expenditures in the production of a film or TV series are always deducted from taxable net income regardless of whether the final product is released or not. There are a plethora of reasons not to release a creative work. For example, you don't want to spend any more money on music licensing, editing, marketing, etc, that is unlikely to be recouped. "Tax write-offs" simply isn'…

> For example, you don't want to spend any more money on music licensing, editing, marketing, etc, that is unlikely to be recouped. I have no idea what "Max" is in the GP, but another big reason to not release a creative work is if audience feedback was negative enough that even releasing it for free would hit the value of your brand.

> I have no idea what "Max" is in the GP

HBO Max, a streaming service.

Re: The $55M saga of a Netflix series nobody will ever see

#34

Post by fny »

akgoel wrote: post #31
nickelpro wrote: post #22

Earlier quoted context omitted.

This isn't how tax write-offs work. The expenditures in the production of a film or TV series are always deducted from taxable net income regardless of whether the final product is released or not. There are a plethora of reasons not to release a creative work. For example, you don't want to spend any more money on music licensing, editing, marketing, etc, that is unlikely to be recouped. "Tax write-offs" simply isn'…

Certain expenses will be capitalized while the film is available for release/streaming. Depreciation/amortization will be years for the life of the film. But if you scrap it right away, you can deduct those expenses immediately.

It’s actually only 5 years, not for the life of the film.

Re: The $55M saga of a Netflix series nobody will ever see

#35

Post by katbyte »

anonymouskimmer wrote: post #32
nickelpro wrote: post #22

Earlier quoted context omitted.

This isn't how tax write-offs work. The expenditures in the production of a film or TV series are always deducted from taxable net income regardless of whether the final product is released or not. There are a plethora of reasons not to release a creative work. For example, you don't want to spend any more money on music licensing, editing, marketing, etc, that is unlikely to be recouped. "Tax write-offs" simply isn'…

> For example, you don't want to spend any more money on music licensing, editing, marketing, etc, that is unlikely to be recouped. I have no idea what "Max" is in the GP, but another big reason to not release a creative work is if audience feedback was negative enough that even releasing it for free would hit the value of your brand.

HBOmax - removed a ton of shows (some well regarded) for the tax write offs

Re: The $55M saga of a Netflix series nobody will ever see

#36

Post by wouldbecouldbe »

nickelpro wrote: post #22
paxys wrote: post #6

Losing the money to a crazy director who gambled it away is at least better than actually finishing the series but never releasing it to get tax write-offs (looking at you Max).

This isn't how tax write-offs work. The expenditures in the production of a film or TV series are always deducted from taxable net income regardless of whether the final product is released or not. There are a plethora of reasons not to release a creative work. For example, you don't want to spend any more money on music licensing, editing, marketing, etc, that is unlikely to be recouped. "Tax write-offs" simply isn'…

It is though, I definitely had project not-launched which had expenses that accountants found much harder to justify then launched projects. Taxes isn't a hard science but a soft one, and when talking to a tax officer, as far as my limited knowledge goes, launching a product or movie does help to ease their fraud suspicions.

Re: The $55M saga of a Netflix series nobody will ever see

#39

Post by function_seven »

From the Times article:

> [Rinsch] transferred more than $4 million from his Schwab account to an account on the Kraken exchange and bought Dogecoin, a dog-themed cryptocurrency.

Guy sounds like a dummy

> Unlike his stock market investments, this one paid off: When he liquidated his Dogecoin positions in May 2021, he had a balance of nearly $27 million.

Shit, maybe I'm the dummy?

Re: The $55M saga of a Netflix series nobody will ever see

#40

Post by RajT88 »

nihiven wrote: post #27
dylan604 wrote: post #16

Earlier quoted context omitted.

Sounds like Jodorwsky's Dune[0] where it's famous for not getting made. https://en.wikipedia.org/wiki/Jodorowsky%27s_Dune

I would love to see how insane a 10-14 hour Dune movie would be. No intermission I'm sure.

I would watch it.

My wife would probably head to her sister's for the weekend.

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