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. While, baseball does not have a salary cap, this payment would have counted towards 30% of Major League Baseball’s (“MLB”) Competitive Balance Tax (CBT) threshold.

income tax 105

income tax Tax Sports payroll 105

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. While, baseball does not have a salary cap, this payment would have counted towards 30% of Major League Baseball’s (“MLB”) Competitive Balance Tax (CBT) threshold.

Tax 97

Tax income tax Sports payroll 97

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

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KROST

NOVEMBER 9, 2023

The post Understanding the Complexities of Tax for Professional Athletes appeared first on KROST.

Sports 81

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Withum

MARCH 29, 2023

The ace of the Mets pitching staff, who had been a lifelong Met, had decided to head to Texas for what he called a “winning culture” and likely tax savings. This article is not a discussion of whether the Mets have improved their rotation but a discussion of how the new teams affect the tax situations of the ace pitchers.

Texas 122

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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. They can also help prepare tax returns, file necessary forms, and represent the business in the event of an audit.

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CPA Practice

JULY 8, 2024

Kowalsky Joins CohnReznick as Government and Public Sector Advisory Principal CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, recently announced that Ted Kowalsky is joining the firm as a Principal in its Government and Public Sector Advisory practice.

Delaware 101

Delaware audit Entertainment Healthcare 101

xendoo

NOVEMBER 1, 2021

You might not be thinking about taxes until closer to the deadline, but planning your eCommerce tax deductions is a year-round process. If you run an online business, investing in tax-deductible business expenses can reduce your tax burden and increase your profits. We’ll help you plan ahead for next year’s filing.

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Anders CPA

NOVEMBER 21, 2023

As we near year-end, it’s important to be aware of the latest tax tips and guidelines to maximize your financial potential for 2024. Make sure you’re taking advantage of donations, cash gifts and more deductible activities to minimize your tax burden.

tax planning 52

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CPA Practice

MAY 15, 2024

From online programs for tax and accounting functions, to document automation and workflow management processes, as well as tools for collaboration, mobile productivity and office hardware. The result: Drake wins this category again this year, showing the loyalty many professionals have for this company’s tax systems.

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CPA Practice

APRIL 17, 2023

While the economy and supply chains may still have some hiccups related to the end of the pandemic, one thing is clear: The demand for the services of accounting, finance and tax professionals is growing strong. The result: Drake wins this category again this year, showing the loyalty many professionals have for this company’s tax systems.

quickbooks 130

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KROST

FEBRUARY 15, 2021

With the advent of the Tax Cuts and Jobs Act of 2017 , the estate, gift, and generation skipping tax exemptions increased dramatically, but these changes were only temporary. Million (per person), review their estate planning now to avoid the chaos we saw last fall. Biden Tax Proposal. million adjusted for inflation.

Tax 60

Tax Entertainment Real Estate Sports 60

Anders CPA

AUGUST 30, 2022

The interim Name, Image and Likeness (NIL) Policy has opened many doors for college athletes – including the door that requires annual income tax filings for NIL deals. To deduct some of their expenses against this new form of income, many college athletes have set up LLC’s making their income reportable on Schedule C on their tax return.

Entertainment 98

Entertainment income tax Sports tax return 98

Withum

FEBRUARY 20, 2024

The tax implications and overall economic impact will be felt throughout the league and the states in which they play. When it comes to state income taxes, professional athletes establish residency in one state and are taxed by each other state relative to the number of “duty days” they spend there.

income tax 59

income tax Arizona Florida Tax 59

CPA Practice

JUNE 13, 2024

The Tax Cuts and Jobs Act of 2017 (TCJA) brought about substantial changes to the tax landscape, significantly increasing the lifetime estate and gift tax exemption amounts ($13.61 Given the federal estate tax rate of 40% and an expected exemption reduction of $7 million, this reversion would result in tax liability of up to $2.8

Real Estate 124

Real Estate Tax income tax Illinois 124

Going Concern

JUNE 13, 2024

Struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can help! With our Always-On Recruiting service, access a pool of skilled remote accountants without any upfront costs. Sign up now to see the complete candidate list and connect with potential hires.

Real Estate 59

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Anders CPA

JANUARY 2, 2024

Snyder, CPA in Tax and Clay M. 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

Missouri forensic accounting Illinois public accounting 59

Going Concern

JUNE 16, 2023

The former slugger, along with former Blue Jay teammates Josh Donaldson and Russell Martin, is embroiled in a cat fight with the Canada Revenue Agency (CRA) over millions of dollars in taxes. No tax is paid by the owner/employee until benefits are received at retirement. Bautista’s lawyers said that the $13.3

income tax 52

income tax Sports Tax Florida 52

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

accounted accountant Account Entertainment 52

ThomsonReuters

NOVEMBER 15, 2023

Jump to: Are charitable donations tax deductible? How do charitable donations affect taxes? What donations are tax deductible? IRS rules for charitable contributions How much do charitable donations reduce taxes? Are charitable donations tax deductible? How do charitable donations affect taxes?

accounted 52

accounted accountant Account tax return 52

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. Residency rules for tax purposes.

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tax planning Sports Tax New York 98

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. The CAQ surveyed 748 audit partners at eight of the largest accounting firms about conditions for their clients. Cohen & Co., The addition of the Morris J.

cpas 118

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CPA Practice

DECEMBER 20, 2023

And there’s also a new product called QuickBooks ledger, which really formats Quickbooks online data for tax returns sync. 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.

quickbooks 98

quickbooks Technology payroll Sales 98

MyIRSRelief

DECEMBER 10, 2021

When it comes to matters regarding taxes and tax breaks, it’s important to know where you stand. The demand for professional tax services as of late is greater than ever before and if you’re a taxpayer yourself, you’ll instantly understand exactly why that is. What exactly is state and local tax?

Tax 100

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