Music

I've been listening to some songs that Watson, our music supervisor, has compiled for the film.  We talked several months ago to go over what kind of music I'm looking for.  He did a great job putting together a nice collection of songs. We haven't obtained the rights to use these songs yet, but Watson searched for indie musicians who may be willing to let us use their music for free in exchange for getting exposure on our website and film.  So one of the songs that I loved is "See You Through" (listen to it above).  

Lucy and I have a running joke that our musical tastes are completely different, with the exception of both of us loving Mazzy Star.  It will be interesting to see how the music in her story will be different from the music in mine (and Laura's).  I can't wait to see how the music will fit with the images.     

My Last Blog on Taxes

Well, at least for this tax season.  I just e-filed my tax returns.  What a big relief.  This was the first year that I had retained a CPA to help me with my taxes, in large part because we had formed the production company last year and we needed to file a tax return for the LLC.  The downside to using an LLC entity as our production vehicle is that the California Franchise Tax Board imposes an annual $800 fee on LLCs.  This doesn't sound like much, but for indie filmmakers every penny hurts.  The upside to using an LLC is the flexibility that it provides with respect to the allocation of profits and losses, and it's also considered a "pass-through" entity which means that the losses that the LLC incurred in production can be passed through to the investors.  Filmmakers should consider retaining a good CPA to guide them through the process of deducting production expenses on their tax returns.  

There is also another tax benefit for filmmakers whereby you only have to pay 3% taxes on products you use for post. A fellow filmmaker pointed this out to me but I haven't had a chance to read up on this, as I've been obsessed about finishing up my tax returns (that, and playing Texas Hold'em on Facebook).  Stay tuned--I will post additional info soon on this.  So I guess I lied when I said this will be the last post on taxes.   

Tax Incentives for Film Investors, Pt. II

As I noted in a prior post, there are possible tax benefits for film investors under Section 181 of the tax code.  (Now, if I was trying to write a legal memo, I would use the correct cite, but I will refrain here.)  I met with a CPA recently to discuss this rule, and it appears that Section 181 is definitely available for this tax year.  (Again, my disclaimer: I am not a tax attorney nor have I ever wanted to be a tax attorney nor have I ever wanted to date anyone who is a tax attorney.  This blog is not meant to be tax advice.  You will need to consult with your own tax advisor.)  The main benefit of this rule is for film investors who are also "active investors" in the production entity, who would be able to deduct their investment against ordinary income.  "Passive investors" will only be able to deduct their investment as a passive loss against passive income, in the year when a loss is recognized.  Since we formed an LLC as the production entity, the LLC will need to file its own tax return, and in turn, "pass-through" the production expenses to the individual investors.  Sec. 181 can be extremely beneficial for filmmakers who have invested in their own films.  This of course assumes that struggling filmmakers have other income to offset their losses.  That is another topic for another day.

Anthony Minghella Dies

Every filmmaker has a few favorite directors whom they really admire, and Anthony Minghella is one of mine.  The English Patient remains one of my favorite movies.  Link to his obituary in the LA Times above.

Website Marketing

Lucy and I drove down to OC yesterday to meet with our web developer.  We met him through a friend of mine who just started his own IT consulting business.  We talked through what we're looking for, and used websites of other romantic comedies as examples of the "look and feel" of the "www.love10to1.com" website.  Our main goal for the website is to generate lots of traffic to the website so that we can promote the film, promote the cast and crew, and hopefully show potential distributors that we have a built-in audience.  To drive traffic to the website, we're planning to include some fun and interactive things on the website, links from other popular sites such as YouTube, as well as use search engine optimization and the like.  

As I noted earlier in a prior post, marketing is probably one of the most significant challenges for a filmmaker, possibly more so than distribution.  The reason why is because distribution channels have opened up, i.e., the internet, though the supply of indie films has increased due to the relative lower cost of making a film nowadays (i.e., making a digital video rather than using film).  However, with so many indie films out there vying for attention, which ones will actually attract audiences?  That's where marketing comes in.  Big studios can afford to cast big name stars to attract the big audiences, but what about the indie filmmakers?  Our marketing plan is still evolving but we started brainstorming on how to market our film even before we wrap with production.  Hopefully one of our ideas will stick.  

              

In Los Angeles, Single Women Out # Men by 10 to 1 - what are your chances of finding THE ONE?

The information below came from this site http://www.solvedating.com/soulmatecalculator.asp

I found the site through this article http://dir.salon.com/story/mwt/feature/2003/05/14/soulmate/index.html
Go ahead, take their test, I had a good chuckle with my results.

Modern Soulmate Theory

Modern Soulmate Theory is based on math and probability calculations.

It has nothing to do with reincarnation, astrology, or magic.

Soulmates are not destined to be with each other.

God may have made a soulmate or a few soulmates for you. God may help you find your soulmate or He may not. Evil forces or your own free will may influence you to choose the wrong person.

You may have one or millions of soulmates depending on how different you are from the population mean.

Statistically, there is at least one person in this world that will bring you true love, a love that will last a lifetime.

People spend a lot of time, money, and energy in their search for soulmates.

The odds of finding a soulmate are very slim. Only a few people are lucky enough to find their soulmates.

Current dating services are inefficient and flawed.

People are "forced" to settle for incompatible mates resulting in break ups and divorces.

Human and social capital decrease because of relationship problems.

One day in the near future, because of technological advances, people will find their soulmate or soulmates very easily.

HAPPY BIRTHDAY CHRISTINE!

It's Super Christine's Birthday Today.

Stop by her myspace page and send her your love.

http://www.myspace.com/goodkarmafilms

The Website is Coming.....

Stay Tuned.

xoxo,

Lucy