This is one of the articles in the KROST Quarterly Sports & Entertainment Issue, titled “Tax Changes for the Entertainment Industry” by Alan Lo, CPA, MAcc. Immediate Expensing of Qualified Production Costs The Internal Revenue Code (IRC) Section 181, which allows immediate expensing of qualified production costs associated with a Television Series, Films, and Live Read the full article…
Ronique Davis, one of KROST’s Sports & Entertainment Industry experts, recently attended the Entertainment Industry Virtual Conference hosted by CalCPA. Below, she shares some of the insights she learned at the virtual event regarding how COVID-19 is impacting the industry. COVID-19 has had an effect on the lives of almost everyone we know to varying Read the full article…
This is a preview of one of the articles in the new KROST Quarterly Sports & Entertainment Issue, titled “Loan-Out Corporations: To Be or Not To Be” by Douglas Venturelli, Esq. with guest author Jonathan Louie, CPA. With the passing of the Tax Cuts and Jobs Act (TCJA) of 2017, many actors, writers, directors, and Read the full article…
This is a preview of one of the articles in the new KROST Quarterly Sports & Entertainment Issue, titled “5 Tips for Choosing the Right Business Manager” by Stacey Korman, CPA, MST. Professional actors, athletes, authors, and musicians have one thing in common: they are all typically high-net-worth individuals with complex financial needs. As a Read the full article…
This is a preview of one of the articles in the new KROST Quarterly Sports & Entertainment Issue, titled “Qualified Business Income Deduction and the Entertainment Industry” by Ronique Davis, CPA. The Tax Cuts and Jobs Act (TCJA) has had an impact on many industries since it was enacted in December 2017, and the entertainment Read the full article…
This is a preview of one of the articles in the new KROST Quarterly Sports & Entertainment Issue, titled “Game-Changing Tax Matters for Athletes” by Brad Pauley, CPA. There were many deductions professional athletes were able to take under the old tax law, however, under the new law, deductions taken in previous years are no Read the full article…
