CTVA 351 Final questions well
answered already passed
Being a Freelancer - correct answer ✔✔- going from job to job
- when your job ends, you need to look for another
- producers and directors need to start their own companies
- independent features need to start own companies
Getting a "Deal" - correct answer ✔✔- a larger studio gives you money to develop and/or
produce a project
Business Structures - correct answer ✔✔- sole proprietorship
- partnership
- corporation
Sole Proprietorship - correct answer ✔✔- simplest business structure
- no distinction between business and individual
- person owns their own business, all profit is theirs
- pros: simple and cheap to set up
- cons: if someone sues your company, you are getting sued
Partnership - correct answer ✔✔- two people are synonymous with business
- 50/50 split of ownership and profit
- pretty simple to set up
- if company is sued, you and your partner will be sued
,Corporation - correct answer ✔✔- group of people acting as single entity
- corporations are legally protected
- you yourself won't be sued if company is sued
- have many requirements
- various types: LLC, loan out, etc.
Loan Out Company - correct answer ✔✔- product is a person selling their talent
- usually for artists, actors, directors
Business Accounting - correct answer ✔✔- financial controls
- checks and balances (money in, money out)
Business vs. Personal Income - correct answer ✔✔Personal Income: I get a check from work,
there is a gross amount then various tax things are taken out
Business Income: money comes in and I pay bills for business before taking taxes out
- goal of business is to spend as much money as possible so that very little of it is lost on taxes
DBA - correct answer ✔✔- "doing business as"
- aka fictitious business name statement
- good for 5 years
- file with LA county clerk office, will be printed in newspaper for a certain amount of time
- bank needs DBA and tax ID number to give business a bank account
Schedule C - correct answer ✔✔- attached to 1040 form
- covers income and loss from business
,- shows categories you can write off for taxes
- must keep work-related receipts and make note on back of what they were for
- if you suffer a loss in business, you can write it off on taxes (do that more than three years in a
row and business becomes a hobby)
Financing Non-Theatrical Films - correct answer ✔✔- using someone else's money to make your
film
- propose your idea and try to convince an investor of why they should fund your film
Non-Theatrical Grant Sources - correct answer ✔✔- public foundations (National Endowment
for the Arts)
- private foundations (Bill and Melinda Gates Foundation)
- Investors (want to make profit, content of film is something they care about)
- Put your own money in the project
- Public Television (anyone can apply for money from CPB and National Endowment for Art)
- Associations and Organizations (give you money, then they distribute and use film)
Pre-Proposal Stage - correct answer ✔✔- is film appealing?
- how does this concept differ from others with a similar idea?
- who is the audience?
- what is the need for the film?
- what is the style and approach to the film?
Writing Proposals - correct answer ✔✔- be competent with the content you're talking about
- production plan
- film's significance and rationale for funding
- description of content
, - distribution plan
- budget plan (but amount of detail can vary)
- other crew members
- applicant's credentials, sometimes bio or resume
How Proposals are Judged - correct answer ✔✔- creativity, originality
- quality of physical proposal itself
- how well idea is communicated by filmmaker/proposal writer
- how audience will benefit from film
- why are you, the applicant, the best person to make the film?
- proposals are usually sent in, not pitched
Corporation for Public Broadcasting - correct answer ✔✔- funding for PBS and NPR
Process of Receiving Grants - correct answer ✔✔- very slow
- excessive paperwork
- money is usually distributed in increments based on progress
Getting Letters - correct answer ✔✔- " if and when this film is financed, I will direct it or I will
provide intellectual property, etc."
- makes it easier to get funding from proposal
Non-Theatrical Distributors for Short Films - correct answer ✔✔- must understand your film
- has enough capital to market and distribute for life of film
- all publish catalogues, do research to see what types of films they distribute
answered already passed
Being a Freelancer - correct answer ✔✔- going from job to job
- when your job ends, you need to look for another
- producers and directors need to start their own companies
- independent features need to start own companies
Getting a "Deal" - correct answer ✔✔- a larger studio gives you money to develop and/or
produce a project
Business Structures - correct answer ✔✔- sole proprietorship
- partnership
- corporation
Sole Proprietorship - correct answer ✔✔- simplest business structure
- no distinction between business and individual
- person owns their own business, all profit is theirs
- pros: simple and cheap to set up
- cons: if someone sues your company, you are getting sued
Partnership - correct answer ✔✔- two people are synonymous with business
- 50/50 split of ownership and profit
- pretty simple to set up
- if company is sued, you and your partner will be sued
,Corporation - correct answer ✔✔- group of people acting as single entity
- corporations are legally protected
- you yourself won't be sued if company is sued
- have many requirements
- various types: LLC, loan out, etc.
Loan Out Company - correct answer ✔✔- product is a person selling their talent
- usually for artists, actors, directors
Business Accounting - correct answer ✔✔- financial controls
- checks and balances (money in, money out)
Business vs. Personal Income - correct answer ✔✔Personal Income: I get a check from work,
there is a gross amount then various tax things are taken out
Business Income: money comes in and I pay bills for business before taking taxes out
- goal of business is to spend as much money as possible so that very little of it is lost on taxes
DBA - correct answer ✔✔- "doing business as"
- aka fictitious business name statement
- good for 5 years
- file with LA county clerk office, will be printed in newspaper for a certain amount of time
- bank needs DBA and tax ID number to give business a bank account
Schedule C - correct answer ✔✔- attached to 1040 form
- covers income and loss from business
,- shows categories you can write off for taxes
- must keep work-related receipts and make note on back of what they were for
- if you suffer a loss in business, you can write it off on taxes (do that more than three years in a
row and business becomes a hobby)
Financing Non-Theatrical Films - correct answer ✔✔- using someone else's money to make your
film
- propose your idea and try to convince an investor of why they should fund your film
Non-Theatrical Grant Sources - correct answer ✔✔- public foundations (National Endowment
for the Arts)
- private foundations (Bill and Melinda Gates Foundation)
- Investors (want to make profit, content of film is something they care about)
- Put your own money in the project
- Public Television (anyone can apply for money from CPB and National Endowment for Art)
- Associations and Organizations (give you money, then they distribute and use film)
Pre-Proposal Stage - correct answer ✔✔- is film appealing?
- how does this concept differ from others with a similar idea?
- who is the audience?
- what is the need for the film?
- what is the style and approach to the film?
Writing Proposals - correct answer ✔✔- be competent with the content you're talking about
- production plan
- film's significance and rationale for funding
- description of content
, - distribution plan
- budget plan (but amount of detail can vary)
- other crew members
- applicant's credentials, sometimes bio or resume
How Proposals are Judged - correct answer ✔✔- creativity, originality
- quality of physical proposal itself
- how well idea is communicated by filmmaker/proposal writer
- how audience will benefit from film
- why are you, the applicant, the best person to make the film?
- proposals are usually sent in, not pitched
Corporation for Public Broadcasting - correct answer ✔✔- funding for PBS and NPR
Process of Receiving Grants - correct answer ✔✔- very slow
- excessive paperwork
- money is usually distributed in increments based on progress
Getting Letters - correct answer ✔✔- " if and when this film is financed, I will direct it or I will
provide intellectual property, etc."
- makes it easier to get funding from proposal
Non-Theatrical Distributors for Short Films - correct answer ✔✔- must understand your film
- has enough capital to market and distribute for life of film
- all publish catalogues, do research to see what types of films they distribute
