Film Production costs

[Kram BergGold]

I just read about a Section 181 election under the Jobs Act to elect to expense film and TV production costs if they are below 15 million. You just attach a statement to the return and then instead of creating an inventory of production costs to be deducted as income rolls in we just expense the production costs as they are paid. Am I missing something or did the IRS actually make something incredibly simple and pro taxpayer?

[sea-tax]

Kram I am not sure about that , but I wanted to remind you that your client might qualify for the production activites deduction.