Michael Cohen thankfully tipped me off to this. It’s a headache for not just Indies but for all small businesses. It effects all filmmakers as it adds on a new layer of tax reporting for any production. According to this article, you will now need to report, via 1099, any PURCHASE you make — and intend to write off — on an individual basis. If you buy a new computer, you will have to send Apple a 1099. Time to consultant your accountant.
The NYTimes has reported that
Mayor Michael R. Bloomberg’s $63 billion budget for fiscal year 2011, which starts July 1, calls for a 31 percent reduction in financing for arts groups and a 25 percent cut for libraries — steeper than any such measures he has proposed at this stage of the budget cycle in the last eight years.
You can send a letter to fight the closing of the libraries at:
http://dontclosethebook.nypl.org
I haven’t come across the same thing on the arts budget side. If you find something, please let us know.
