KROST

JUNE 7, 2023

Loan-out corporations are widely used by sports and entertainment professionals as a tax and financial strategy. The post Loan-Out Corporations – Maximizing Tax Savings & Financial Flexibility for Sports & Entertainment Professionals appeared first on KROST.

Entertainment 82

Entertainment Sports Tax 82

TaxConnex

SEPTEMBER 16, 2021

Electronics lead the way for products with an average order of $129.72, followed closely by sports+outdoor at $111.44. Among the findings: The average e-commerce order was $78.09, including taxes and shipping. Also close together were jewelry at an average order of $95.47, apparel at $88.74 and health+wellness at $85.16. Big yearly bumps.

E-commerce 246

E-commerce Sports Sales Tax 246

KROST

OCTOBER 12, 2023

The post Protecting Your Assets and Legacy: Estate & Trust Management in Sports and Entertainment appeared first on KROST.

Entertainment 76

Entertainment Sports CPA 76

RogerRossmeisl

NOVEMBER 13, 2022

Snapshot view In their simplest form, NFTs are immutable digital assets — often related to art, sports, music, digital culture and avatars — linked to the blockchain, the digital ledger. For example, more than $100 million in NFTs was stolen between July 2021 and July 2022, according to analytics company Elliptic.

Sports 230

Sports CPA Tax Technology 230

Withum

FEBRUARY 27, 2024

When it comes to sports betting, taxes play a crucial role in shaping the industry. In May 2018, the Supreme Court invalidated The Professional and Amateur Sports Protection Act (PASPA), a federal law enacted in 1992 restricting sports betting in most states. The state levies a tax rate of 36% on sports betting revenue.

Sports 59

Sports Delaware Vermont Tennessee 59

Withum

JANUARY 17, 2024

Premier Sports Network is pleased to announce it has extended its agreement for a second year with Withum, a Top 25 Public Accounting and Advisory firm in the US. As a Player Care Partner at PSN, Withum has been able to grow its sports desk and portfolio, working closely with some of the highest-performing athletes in US sports.

Sports 59

Sports public accounting Entertainment Education 59

BuildYourFirm

APRIL 14, 2020

Outside of work, Corey enjoys craft beer, watching movies with his family, or watching sports at the local brewery. These values provide a platform in which he can lead his clients on a path to becoming mature businesses. Corey graduated from the University of Michigan. He is a licensed CPA in Michigan.

Michigan 246

Michigan cpas Sports Education 246

Accounting Today

AUGUST 16, 2022

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Sports 98

Sports Technology 98

Withum

FEBRUARY 28, 2024

Withum is excited to share that Josh Horowitz , Team Leader of Withum’s Professional Sports and Esports Services Teams, has been named to the U.S. Advisory Board of Premier Sports Network (PSN). As a leader of the Professional Sports Services Team, Josh has a deep understanding of the complex taxation that professional athletes face.

Sports 52

Sports Tax Start-ups Account 52

Withum

SEPTEMBER 14, 2023

This weekend, there were a lot of sporting events that caught my attention. Let’s Chat The post Exciting Moments in Sports and Business appeared first on Withum. Xavier Gipson’s punt return touchdown giving the Jets a win was the most exciting for me.

Sports 59

Sports Gaming Tax 59

Withum

FEBRUARY 9, 2024

Most of us don’t have hundreds of thousands, millions or even billions of dollars at our disposal to purchase our favorite sports team. However, it is a dream for many sports fans to fantasize about owning a sports team. According to Forbes, the average value of sports franchises has increased over 250% since 2000.

Sports 52

Sports Non-Profits Tax income tax 52

Reckon

MAY 5, 2024

Managing the finances of a sports club or association can pose certain challenges. Many local sporting clubs and associations work within very tight financial constraints, often relying on volunteers to help manage the finances. But what should you be looking for in good accounting software for your sports club or association?

accounting software 52

accounting software Sports Account accountant 52

Accounting Today

MAY 7, 2024

Wolters Kluwer's tax, accounting and audit research solution now has generative AI capacities.

Sports 75

Sports tax accountant audit Tax 75

Accounting Today

JULY 18, 2022

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Sports 96

Sports audit accountant Account 96

TaxConnex

DECEMBER 5, 2023

“To be considered an athletic club, the club must be organized such that its members have an extensive role in the operation of the club,” the state statute reads, and can comprise such sports as tennis, golf, boating and skating.”

South Carolina 264

South Carolina Sales Tax West Virginia 264

Accounting Today

MAY 11, 2022

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Sports 105

Sports Tax corporation tax 105

CPA Practice

SEPTEMBER 9, 2024

5, the IRS Criminal Investigation unit reminded taxpayers that illegal sports gambling can result in criminal charges ranging from money laundering to tax evasion. The annual revenue from the illegal sports betting market in the U.S. IRS-CI also noted that nearly 50% of Americans have bet on sports at some point in time.

Sports 52

Sports Gambling tax return Gaming 52

RogerRossmeisl

OCTOBER 1, 2021

Studies have found that more people are engaging in online gambling and sports betting since the pandemic began. Review the tax rules Whether you win online, at a casino, a bingo hall, a fantasy sports event or elsewhere, you must report 100% of your winnings as taxable income.

Gambling 130

Gambling Tax Sports tax return 130

Accounting Today

JULY 25, 2024

Kratom ka-boom; what a sport; treed; and other highlights of recent tax cases.

Tax 121

Tax Sports tax preparation 121

CPA Practice

AUGUST 19, 2024

athletes have received financial assistance to help them devote their time to training for the games from family, friends, sponsors, international or national sports organizations, their national Olympic committee, or even GoFundMe appeals. Star Olympic athletes are often able to line up endorsement deals worth millions of dollars.

Tax 124

Tax Sports income tax Gaming 124

ThomsonReuters

APRIL 2, 2024

Jump to: The allegations The IRS investigation Ohtani’s response Implications for Ohtani and the Dodgers Broader impact on professional sports Uncovering the truth The Internal Revenue Service (IRS) launched an investigation into the financial scandal involving Shohei Ohtani, the star player for the Los Angeles Dodgers.

Gambling 105

Gambling Sports Legal Gaming 105

GrowthForceBlog

JULY 8, 2021

5 min read. Do You Have ‘Staff’ or a ‘Team’?

Sports 91

Sports 91

TaxConnex

MARCH 5, 2024

These digitized assets denote ownership of such collectibles as sports cards and artwork, even designer digital footwear. If the NFT entitles the purchaser an admission to a sporting event, the sale of the NFT is a taxable admission. The non-fungible token (NFT) remains a sizzling commodity. is the purchaser a consumer or reseller?).

Sales 147

Sales Tax Wisconsin Minnesota 147

CPA Practice

JUNE 5, 2023

But the NBA Finals—and other sporting events—are connected to taxes in a big way. Individuals who travel to work with sports teams, and earn income in different states, pay, too. Individuals who travel to work with sports teams, and earn income in different states, pay, too. Essential Sports reported that Jokić could pay $1.4

income tax 118

income tax Tax Sports Nevada 118

TaxConnex

JULY 13, 2023

Clothing” does not include watches, watchbands, jewelry, umbrellas, handkerchiefs, sporting equipment, skis, swim fins, roller blades, skates and any special clothing or footwear designed primarily for athletic activity or protective use and not usually considered appropriate for everyday wear. Certain sports equipment up to $150.

Sales 130

Sales West Virginia South Carolina Tax 130

CPA Practice

AUGUST 1, 2024

Top 25 accounting firm Carr, Riggs & Ingram (CRI) CPAs and Advisors has added ProSport CPA—a New Kent County, VA-based firm that specializes in tax and accounting services within the sports and entertainment niche—to CRI’s family of companies.

CPA 105

CPA Entertainment Sports cpas 105

PYMNTS

JANUARY 6, 2021

(OK, actually, you'll be able to be bet on sporting events that way.). New York will join the pantheon of states that have legalized mobile sports betting, per a proposal by Gov. 14 states have allowed mobile sports betting, with 19 states offer sports betting overall. Andrew Cuomo released Wednesday (Jan.

Gambling 107

Gambling Sports New York B2C 107

Menzies

OCTOBER 27, 2023

Call our free confidential hotline – 07813003194 Alternatively, contact our team of experts below using the contact form [contact-form-7] The post UK tax considerations for E-sports earnings was written by Menzies Demi Fossitt and appeared first on Menzies LLP.

Sports 59

Sports Tax tax return chartered accountant 59

PYMNTS

FEBRUARY 2, 2021

And the delivery of that product is behind the value proposition of Tennessee’s newest sports betting firm, Action 24/7. Hodges, known as the “Rookie Bookie” on social media, made her comments less than three months after Tennessee became the 20th state to launch sports betting on Nov. Winning Converts.

Tennessee 105

Tennessee Gambling Sports Entertainment 105

Withum

MARCH 20, 2024

Download a PDF of this case study Executive Summary A custom uniform sporting goods manufacturer sought to optimize its operations by implementing NetSuite. The Client The New Jersey-based, family-owned company manufactures locally to support youth soccer and sports programs.

NetSuite 52

NetSuite Sports E-commerce Manufacturing 52

Withum

JUNE 25, 2024

Join us for this episode of Civic Warriors, where we speak with Sherry Wheelock, President and CEO of Special Olympics Florida, and Maryann Gonzalez, a Coordinator of Sports and an athlete at the Special Olympics Florida.

Florida 111

Florida Sports 111

TaxConnex

APRIL 19, 2022

These digitized assets resemble cryptocurrencies but are different – most people buy NFTs with crypto, for instance – and are termed “distinctive digital assets” denoting ownership of such collectibles as sports cards and artwork, and even designer digital footwear and Tweets. But again, what does that mean for sales tax?

Sales 246

Sales Tax Colorado New Jersey 246

KROST

NOVEMBER 9, 2023

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 (..)

Sports 81

Sports Tax Entertainment CPA 81

PYMNTS

DECEMBER 16, 2020

Digital sports entertainment and gaming industry platform DraftKings — known for its top-rated daily fantasy sports and mobile sports betting apps — today announced an agreement with InComm Payments , a global leading payments technology company, to launch an industry-first retail gift card. .

Gaming 92

Gaming Retail Sports B2C 92

CPA Practice

FEBRUARY 9, 2024

CLA will be located near the e-sports space and the Longship at Viking Lakes co-working area and the Viking Lakes Innovation Center. Viking Lakes campus in Eagan, MN.

Minnesota 116

Minnesota Sports accounting firms Account 116

Withum

JUNE 28, 2024

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. Christina Flynn is a quality control partner leading our professional compliance and is an IFRS expert.

Entertainment 116

Entertainment audit Sports tax planning 116

Going Concern

FEBRUARY 2, 2023

.” To put things into perspective for the normies who may not understand that accountants’ work is critical to the entire foundation of our financial system, he likens accountants to referees, the order-keepers of sports: “We may not always like the referees, but sports is a free-for-all without them,” he said.

Sports 105

Sports Account accountant accounted 105