One of my passions is the movie industry. I’m interested in the creation of movies and who starred where, and who produces what. My favourite actress is Katherine Hepburn, and favourite living actress is Sandra Bullock. My favourite movie is Gone With The Wind.
I’m not interested in gossip, and this really detracts from the magic that is movies.
I’ve recently taken some time off and thought how can I incorporate my love of movies into what I do…..after mushing the grey matter around a bit…I thought how about I justify why watching the movie should be considered a tax deductible expense, because you can learn relevant business lessons from it.
Yep. That idea sounds awful doesn’t it. But it does give me an excuse to include gorgeous images on my blog. Now I’ve never written a movie review before & this is my first attempt. I’ve been told I should start with #SPOILERALERT I don’t think I’ve shared anything that’s not obvious – but sorry I ruin the movie for you…let me know what you think….
Here goes….5 reasons why ‘Dallas Buyers Club’ could be considered a tax deductible movie
- Mr Taxman while watching ‘Dallas Buyers Club’ I learnt to look for “alternative opportunities” when red tape and compliance are getting in my way. Matthew McConaugheys character Ron Woodroof realised some drugs were beneficial to people with aids, but as the drugs did not have FDA approval, they were not allowed to be sold in the USA. Woodroof explored other possibilities, and realised he could give the drugs away, through a Buyers Club Membership in the USA.
- Mr Taxman I learnt bookkeepers are an important part of small business, when the Dallas Buyers Club was audited by the IRS, it interrupted his abilities to operate his business. If he’d engaged a bookkeeper this set-back could have been avoided!
- Mr Taxman I learnt not to become reliant on one supplier. Establish relationships with alternative suppliers, ensures you’ve stock in supply to meet demand. Woodroof sought world-wide distributors and went to great lengths to establish relationships with them.
- Mr Taxman I learnt about the Yin and Yang of partnership. There are benefits to finding a business partner who are different to you, and whose skills compliments you. Woodroofs business partner, Rayon, played by Jared Leto was a transvestite; a lifestyle that horrified homophobic Woodruff. Note: Jared Leto is not Tom Hiddleston of Thor fame! However he realised Rayon was connected with and understood the customer base, in a way Woodroof never would. Woodroof was able to help the Dallas Buyers Club grow through this appreciation.
- Mr Taxman I learnt to distribute my assets! In his trailer Woodroof stores wads of cash under his bed, in jars, in cupboards, and other hiding places. Presumably, if he is robbed; the perpetrator is only going to look in one spot. If he loses some cash, he is unlikely to lose it all. Likewise it’s good not to have all your business assets tied up in a single investment.
Dallas Buyers Club is not a happy movie, but it is a memorable and it has soul, and maybe you can convince your Tax man going to the movies should be a tax deduction! Do you agree? Where there any other business tips you picked up in the movie?
Disclaimer: This review of the ‘Dallas Buyers Club’ is tongue in cheek, and you need to seek your own tax advice!