Let’s say that I have this one movie that is finished that I spent 80 million to make. I decided to “write it off”. So when I get to pay my taxes, do I get a 80 million discount?
Let’s say that I have this one movie that is finished that I spent 80 million to make. I decided to “write it off”. So when I get to pay my taxes, do I get a 80 million discount?
A tax write-off is something that you ‘lose’ in order to offset what you owe in taxes. If you donate a car to a charity, you’ve losing the value of that car - because you aren’t selling it, and thus that value ‘lost’ gets calculated against what you owe the government.