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zoetifex Studios Blog
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- 23 February 2013 /
- by zoetifex Studios /
U.S. Tax Code 181 was originally drafted as part of The American Jobs Creation Act Of 2004 as a way to keep filming production companies from going up to Canada and elsewhere to film their movies and TV shows.
Last year, it was rolled into the American Taxpayer Relief Act of 2012 (The Stimulus plan). What it does, is it allows an investor to get a 100% deduction on their taxes as long as the production company is spending 70% of their finances in the US and that the cost of production is $15M or less ($20M with some provisions).
This acts just like giving to charity only better. What it also does is gives the investor a 9% tax break on any revenue generated from that investment. So for every $100k that someone invests into a project, they get a $35k tax break (figuring that they would probably be at the 35% tax bracket). And for every $100k they make on the invested project, they save $9k in taxes.
We think this is a huge deal!
With the tax breaks and potential revenue, this should be worth a look for anyone who has the ability to invest.
- 13 November 2012 /
- by zoetifex Studios /
Well, it's been a while since I made a blog post so I thought this would be a good time to get everybody caught up on the state of zoetifex Studios.
Sometimes being absent can mean two different things. It either means that you are so busy that you don't have time to keep people updated, or it means that you have just simply gone away. Thankfully we're still here! So, yes you can take that to mean that I have been very busy trying to move things forward.
It really seems like we've had a big revolving door around here. People have come and they have gone; they've gotten excited about wanting to help out and then the excitement faded; promises have been made and promises have been broken; we've had huge gains and setbacks just as big; we started new ideas for new projects and have continued working on current projects; We've formed new business alliances and have lost others. In other words, things are pretty normal for a start up animation studio around here.
Taking on an endeavor such as this is difficult to begin with, but we are really fighting a difficult battle by trying to do all of this during bad economic times. I can understand how some people would get frustrated and want to give up quite easily because this is very difficult. It takes a strong stomach and the strong will and a strong faith. It's certainly not meant for everybody. But then again if it was, more people would be doing this. I just believe that the more difficult the challenge - the greater the reward.
Okay, so enough of the rhetoric. What's going on with our projects? Christmas Magic has seen its ups and downs. But the plain simple fact of the matter is we need to get started on this project before the end of the year or we will not be able to get this done in time for Christmas of 2013. There have been several roadblocks for us, and the biggest one being funding. We have been close several times to reaching our goal on paper only to have certain people back out. I try not to make this a direct reflection on the project because there had to be something exciting there for them to want to even consider investing in the project. I really just think it's a matter of the tough economic times we are in right now and people are a little nervous about pulling the trigger on anything big. One way that we could definitely get this project off the ground would be to partner with another studio. I was in talks with another studio from India but they've kind of dropped off the radar right now. I started another conversation with another studio and we're still ongoing with our talks. And over the next week or two I plan on starting up other conversations to see what kind of interest there is out there to have some other high-level animation Studios from other parts of the world want to help us out and get involved. I think the first thing that I've got to consider is that we just need to get a project out there. Once the project is out there and people can see the type of work we can do, then we can start focusing on building the studio.
As for Operation: Mindcrime, I'm very excited to say that we will be launching a new Kickstarter project within the next week or so. We are going to use the money from this project to work on the trailer for the film. We've had several discussions with investors and they would just love to see what this thing is going to look like before they invest. We think the Kickstarter is the best way to make this happen.
I have been asked by several people what the reelection of Pres. Obama means for us. I don't really want to get all political so let me just state that this is having no effect on our ability to move forward. We can make excuses all day long about how bad the economy is, but the bottom line is there are plenty of people out there with money to invest in things - we just need to talk to these people and let them see what a great investment it would be to invest in zoetifex.
So what is next? After we are successful with the Kickstarter project we will begin working on the trailer for Operation: Mindcrime immediately. We are also continuing to develop some other programs for television. We hope to get to the point soon where we can get a pitch package together to present to different networks in hopes that somebody takes one of the shows up.
We will continue to collect resumes and demo reels and build a library of phenomenal artists from all over the world. We are thankful for all of the wonderful people that have wanted to come work for us and have sent their resumes and have been very patiently waiting for the time that we start our first production. The only thing I can say to those artists who are waiting to see what happens is, hang in there. Like I said we appreciate your patience and we are trying as hard as we can to get things moving. I guess in retrospect we've only been at this for a few years and we only had the projects that we have right now for not even a year. So while this seems like it's taking forever to me and probably to some others, I think we're actually making a lot of headway and a lot of progress in a little bit of time.
So, hopefully I got you caught up to where we are at right now. I will try to make more frequent blog posts so that there's not too much catching up to do. Thanks your time in reading this and thanks for your interest in following us we really appreciate you.
Michael M .Kadrie
- 19 March 2012 /
- by zoetifex Studios /
Hey zonuts! Now that I downloaded the Blogger App for my iPhone, (and in conjunction with the Dragon Naturally Speaking App), it might make it easier for me to start the Blogs back up. Hopefully I can find the time.