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07-17-2017, 09:47 PM #1
- Join Date
- Oct 2015
- Posts
- 26
$ 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,
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07-17-2017, 09:55 PM #2
- Join Date
- Oct 2016
- Posts
- 4,318
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.
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07-17-2017, 09:59 PM #3
- Join Date
- Jul 2015
- Posts
- 1,202
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.
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07-18-2017, 11:40 AM #4
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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