$ Amount Treshhold above which a Tax Return will (Always?) be asked for?
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  1. #1

    $ Amount Treshhold above which a Tax Return will (Always?) be asked for?

    If a client wants $1,000,000 in a Cash advance, are there any funders that
    would NOT require a return for funding?

    Asking because I did some checking on the prospect and the background
    seems viable and worth this time here right now to see if programs are out there
    for this. The prospect does not want to provide a return. Maybe previous
    years were much lower, maybe then have not net and are making assumptions
    about that, I don't know.

    They are film industry and claim $4,000,000 per month in deposits.
    The Company website appears very substantive along with the
    main Owner.

    So what about the Tax Return requirement? If so I can spend time
    wooing them.

    Thanks,

  2. #2
    Senior Member Reputation points: 503040
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    First off, simply getting a $1M cash advance for any industry, no matter the situation will be hard to come by these days. But even if you could find one willing to fund a movie studio, they'd require tax returns. Ask him if he can provide a K1. If he refuses that you know there's issues.

  3. #3
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    Film Industry is Ultra-Ultra risky. The answer is no for sure. Most movies never get made, die in post-production, or suffer costly delays due to a multitude of forces. A true roll of the dice.

    Consider them lucky to have that kickstarter money or whatever that "income" is. JMHO, but I wish you luck.

  4. #4
    Senior Member Reputation points: 99408 ridextreme's Avatar
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    yeah find out what the issue is, why he is refusing to send it, and if he actually filed and paid his taxes, then sell him on sending you the financials instead of just being an order taker. Does he really think someone will give him a million dollars by snapping his finger?

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