Coyote vs. Acme is the latest in the predatory trend of shelving movies for tax write-offs. It's always been here, but it's never been so bad.
If you ask any director, screenwriter, actor, stunt performer, gaffer, editor, cameraperson or other Hollywood worker, they’ll likely tell you a variation on the same story: “My dream, ever since I was a little kid making home movies, was to one day grant Warner Bros. a deduction for a loss sustained upon the abandonment of property .
The tax code may have changed since then, but the logic remains the same: Get rid of the movie so you can avoid all the final complications and lingering expenses associated with its “useful life.” If you cut that life short, pulling off an accounting assassination, you save a little immediate cash at the low, low cost of…art. It’s always been a crass practice, more often performed by resentful new regimes or moneygrubbers who’ve found themselves attracting the gaze of Sauron’s IRS.
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