They’ve just cancelled their upcoming film “Coyote vs. Acme,” and everyone is calling it a tax write-off, just like they did with the cancelled Batgirl film.
Having spent so much on the production of these films, how is it beneficial to them to cancel the film outright? What is a tax write-off in that sense?
In: Economics
Well, let’s say they did order some costumes for the movie two years ago. For $100k.
They cancel the movie, destroy everything and “we needed to destroy those costumes. They would be worth roughly… $500k”. They write off the $500k as losses now…
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