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This is one of the articles in the KROST Industry Sports & Entertainment Issue, titled “Understanding the Complexities of Tax for Professional Athletes” by Alan Lo. The post Cashflow Strategies for the Sports & Entertainment Industry appeared first on KROST. CPA, MAcc & Randall Poe.
This is one of the articles in the KROST Industry Sports & Entertainment Issue, titled “Client Accounting Service Strategies for Success in the Sports & Entertainment Industry” by Stacey R. The post Client Accounting Service Strategies for Success in the Sports & Entertainment Industry appeared first on KROST.
Irene Wachsler is a Certified Public Accountant specializing in accounting and tax solutions for small businesses, self-employed individuals, nonprofits, and the film and entertainment industry. She is also experienced in cryptocurrency taxation including tax preparation and problem resolution.
Josh Horowitz is the team leader of the Professional Sports Services Team and serves high-net-worth individuals in the sports and entertainment industry with complex tax issues and tax-saving planning. Sean Urbany is a tax partner who focuses on high-net-worth families and their unique taxplanning needs.
By providing a combination of taxplanning, bookkeeping, and financial guidance, they empower small businesses to thrive, focusing their energy on what they do best – innovation, growth, and serving their customers. These are just a few examples, and the expertise of a specialized tax and accounting firm goes beyond industry specifics.
If you do want to save on your business taxes, another proven strategy that would allow you to do precisely that, is to fund your own retirement plan – pay yourself first. If you are thinking of saying thank you in the form of a party, or a day out, entertainment costs are much trickier to claim back.
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Meals and Entertainment:Business-related meals and entertainment, subject to certain limitations. Meals and Entertainment Meals and entertainment expenses can be tricky, as the IRS imposes strict rules on what is deductible. These can include: Office Supplies:Items such as paper, pens, printer ink, and other consumables.
Josh Horowitz is the team leader of the Professional Sports Services Team and serves high-net-worth individuals in the sports and entertainment industry with complex tax issues and tax-saving planning. Sean Urbany is a tax partner who focuses on high-net-worth families and their unique taxplanning needs.
If you do want to save on your business taxes, another proven strategy that would allow you to do precisely that, is to fund your own retirement plan – pay yourself first. If you are thinking of saying thank you in the form of a party, or a day out, entertainment costs are much trickier to claim back.
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But beneath its glamorous surface lies a practical reality: taxes. Whether youre an individual chasing the California dream or a business owner navigating the complexities of the entertainment industry, tax obligations are an unavoidable part of life in this vibrant city. Clients appreciate his transparency; as Deborah V.
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Monitor and Cap Discretionary Spending: Set limits on discretionary spending categories such as travel, entertainment, or office supplies, and monitor them to prevent overspending. TaxPlanning Strategies: Work with a tax professional to identify deductions, credits, and other tax-saving opportunities to minimize your tax liability.
Earning income in a state outside of your home state can have tax implications when your job has nothing to do with sports. The jock tax tends to get attention because of the money involved with multimillion-dollar athletic contracts. Low tax states with no jock tax Most states and some cities have a jock tax.
This is one of the articles in the KROST Industry Sports & Entertainment Issue, titled “Understanding the Complexities of Tax for Professional Athletes” by Brad Pauley, CPA Professional Athlete Taxation Professional athletes are subject to a complex system of taxation that can vary depending on their state of residence, the sport they play, and (..)
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In addition to the limited contributions, the solo 401(k) does allow plan loans, unlike the SEP plan. Not sure if the solo 401(k) plan is right for you? Anders Sports, Arts and Entertainment advisors are well versed in benefits and limitations of the various retirement plan options for collegiate athletes.
Renewable Energy Credits Discover tax credits available to businesses in the renewable energy sector. Historic Rehabilitation Tax Credit Learn about tax credits for rehabilitating historic buildings. Consider the role of tax-advantaged accounts such as IRAs, HSAs, and 401(k)s in your overall tax strategy.
Kess wowed his audiences and kept them entertained during his two-day courses, speaking eight hours a day. His book on the 1969 Tax Reform Act sold 50,000 copies. He traveled the U.S. Lecture attendees often stood in line after the day was done to ask Kess questions or for advice.
In the 2018 Small Business Accounting Insight Survey , published in Accounting Today, 65% of people said they would use a professional tax service for taxes only in 2019. Have you considered adding ancillary and advisory services to better meet client demands, bolster client retention rates and win new tax clients?
Does this apply to entertainment expenses? This full tax deduction does not appear to apply to entertainment expenses. Or at least the Tax Act does not specifically extend the full deduction to entertainment expenses. We offer various tax services so be sure to get in touch with us today at 470-240-1437.
About Ryan Huff Ryan began his accounting career at Anders in 2008 and has worked his way up to principal as a technical resource for the tax department. Ryan provides valuable taxplanning and compliance strategies for individuals, families and small businesses, including partnerships, S-corps and LLCs.
After all, most entrepreneurs entertain dreams of growing their businesses. Taxplanning. Tax preparation. Budgeting and planning. Personal tax preparation and filing. Ideally, you’ll want an online accountant who has worked for companies of a similar size, revenue stream, and industry, too.
Evelyn has over 15 years of experience in the public accounting profession, providing strategic advice and taxplanning to her clients. Evelyn also has extensive experience in working with international clients.
Victoria Gardens in Rancho Cucamonga is a premier shopping and entertainment destination in the Inland Empire. With a mix of upscale retailers, dining options, and entertainment venues, it’s the perfect place to spend a day indulging in some retail therapy. Peace of Mind: Tax problems can be stressful.
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Meals with clients can also be deducted from your taxes, though only when these meals also serve as business meetings. If you and a client decide to see a movie or sporting event, these entertainment costs will not count among your normal and necessary business expenses. TaxPlanning Takes Time and Xendoo Can Help.
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Business meals/entertainment Travel Uncollected debts Medical/healthcare expenses Property/rent Tools and technology Self-employment taxes Tip : Don’t just throw receipts in a shoebox and hope for the best. ONESOURCE corporate tax software has flexible modules for taxplanning and preparation, and can automate much of the tax process.
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