Business: Cinematic Shelter

Bankrolling movies has long been considered a risky investment, and indeed it is. Nonetheless, a growing number of wealthy investors who seldom if ever come near a set or meet a star are pumping money into movie production, seeking not only glamour but write-offs that will reduce the taxes on their other income. Since 1973, a rising amount of tax-shelter money has been funneled into movie production by non-Holly-woodians who earn $125,000 to $200,000 a year—especially doctors. By some estimates, the flow could reach $1 billion in 1976. Tax-shelter money now at least partly finances the production of more than half...

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