CPA Practice

JUNE 5, 2023

Taylor, Kiplinger Consumer News Service (TNS) NBA finals Game 2 is in the books, and many people who tuned in to see the Miami Heat tie the series with the Denver Nuggets are probably not wondering what a jock tax is. But the NBA Finals—and other sporting events—are connected to taxes in a big way. What is the jock tax?

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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

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Withum

FEBRUARY 29, 2024

Sports fans across the world turned their heads when Shohei Ohtani’s record breaking $700 million contract with the Dodgers was announced. The good news for Ohtani is that federal and state income taxes will be assessed only when the deferred compensation is actually paid. Next, let’s review his State tax liability.

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Withum

FEBRUARY 29, 2024

Sports fans across the world turned their heads when Shohei Ohtani’s record breaking $700 million contract with the Dodgers was announced. The good news for Ohtani is that federal and state income taxes will be assessed only when the deferred compensation is actually paid. Next, let’s review his State tax liability.

Tax 97

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Withum

MARCH 29, 2023

Many sports contracts are negotiated with state and local taxes taken into account. In addition, other sources of income, such as endorsement and investment income, factor into tax planning. Changing residency, as well as changing your state of employment, adds complications to taxes.

Texas 122

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CPA Practice

JULY 8, 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. Sean Urbany is a tax partner who focuses on high-net-worth families and their unique tax planning needs.

Delaware 101

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MyIRSRelief

APRIL 29, 2024

By providing a combination of tax planning, 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.

Tax 130

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MyIRSRelief

APRIL 3, 2023

Tax Planning and Preparation: An accountant (EA or CPA) can help small business owners navigate the complex world of tax laws and regulations, ensuring compliance and minimizing tax liabilities. Q: What can an accountant do to help with tax planning and preparation?

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Anders CPA

JANUARY 2, 2024

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 tax planning and compliance strategies for individuals, families and small businesses, including partnerships, S-corps and LLCs.

Missouri 59

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Going Concern

JUNE 13, 2024

TAX CANDIDATES FTE Senior Tax Accountant / Manager | Candidate ID #21844350 Certifications: CPA Education: BSBA Accounting, MS Accounting Experience (years): 6+ years in tax and accounting Work experience: 6+ with the same CPA firm Prep and review of tax returns Leads a team of 5+ Accountants Manages client engagements Client niches: Real estate, Construction, (..)

Real Estate 59

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Withum

FEBRUARY 20, 2024

Please note players are still subject to income taxes in their resident state during spring games. However, if proper tax planning is considered players can be domiciled in states which do not have an income tax and be free of state income taxes for Spring Training.

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CPA Practice

MAY 15, 2024

But even basic tax planning can make a big difference in reducing future tax liability. This makes having a reliable tax planning system that can look forward several years a valuable addition to a practice. WINNER: “Who has time to exercise during busy season?” (42%)

Technology 119

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Anders CPA

AUGUST 30, 2022

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.

income tax 98

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CPA Practice

APRIL 17, 2023

But even basic tax planning can make a big difference in reducing future tax liability. This makes having a reliable tax planning system that can look forward several years a valuable addition to a practice. WINNER: “Who has time to exercise?” Yes (12%) No (88%) ————– How “social” are you?

quickbooks 130

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KROST

FEBRUARY 23, 2022

Beyond accounting, CAS advisors provide access to complementary solutions, such as strategic tax planning, outsourced CFO, wealth management and 401k planning, succession planning, capital markets, and assistance with mergers and acquisitions. Accounting , Sports & Entertainment. Client Accounting Services.

accounted 52

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Withum

DECEMBER 7, 2023

Are you an athlete or part of a sporting organization looking to navigate the complex world of taxes? Join this on-demand webinar where Withum’s Professional Sports experts and Rocco Scarfone dive into the complex challenges associated with athletes and taxes.

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ThomsonReuters

NOVEMBER 15, 2023

If you receive a benefit in exchange for the contribution such as merchandise, goods or services, including admission to a charity ball, banquet, theatrical performance, or sporting event, you can only deduct the amount that exceeds the fair market value of the benefit received or expected to be received.

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CPA Practice

JUNE 13, 2024

Thus, estate planning is imperative for those who may not currently exceed the exemption but may in the future. Sports fans have no doubt heard the famous quote often attributed to hockey legend Wayne Gretzky: “Skate to where the puck is going to be, not where it has been.”

Real Estate 124

Real Estate Tax income tax Illinois 124

xendoo

NOVEMBER 1, 2021

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. Tax Planning Takes Time and Xendoo Can Help.

Tax 95

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Going Concern

DECEMBER 8, 2023

Cohen began its professional practice in 1929 and is highly regarded in the Philadelphia area for their experience in audit and tax planning, and compliance. Cohen & Co., McKonly & Asbury ] The merger will be effective January 1, 2024. The addition of the Morris J.

cpas 118

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Going Concern

JUNE 16, 2023

More than anything else, some talking heads say the publicity will have a pretty shitty effect on Canadian sports teams’ wanting to attract top international athletes (other than the fact they actually have to convince them to play in Canada).

income tax 52

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CPA Practice

DECEMBER 20, 2023

And since that’s only available for gold tear, notice Brian’s laid out, you have to not only do the training, and it used to be if you were a pro advisor, and yet two pro advisors in your firm, you got the premium sport. And now you have to have all the training and sales goals met.

quickbooks 98

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MyIRSRelief

DECEMBER 10, 2021

This particular $10K ceiling tax plan was signed by former US President Donald Trump, when he was in office in 2017. What was initially known as the Tax Cuts and Jobs Act, instituted a cap on SALT deductions. Origins of SALT credits.

Tax 100

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KROST

FEBRUARY 15, 2021

But the consensus was that the President would not be able to implement much of his agenda because Republicans in the Senate were going to block most of his tax proposals. But now that Democrats control both the House and the Senate for at least the next two years, Biden’s tax plans have taken on new life. Venturelli, Esq.,

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