This is one of the articles in the KROST Industry Sports & Entertainment Issue, titled “Understanding the Complexities of Tax for Professional Athletes”. Passthrough Entity Tax Credit The Passthrough Entity Tax Credit, commonly referred to as the State and Local Tax (SALT) cap workaround, was introduced to mitigate the impact of the federal cap on Read the full article…
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 the Read the full article…
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. Korman, CPA, MST In the fast-paced and dynamic world of sports and entertainment, financial management plays a crucial role in the success of artists, performers, Read the full article…
As calendar year 2022 comes to a close, it is a good time for taxpayers and their advisors to start thinking of planning moves that will help lower their tax bill for this year and possibly the next. This year, we have seen significant financial uncertainty and an inflation rate not seen since the 1980s, Read the full article…
As year-end approaches, it is wise to think of planning moves that will help lower your tax obligations and provide financial relief. Year-end planning for 2020 takes place against the backdrop of the 2017 Tax Cuts and Jobs Act (TCJA) and the 2020 CARES ACT. The TCJA had major changes in the tax rules for Read the full article…
Enacted on December 22, 2017, the Tax Cuts and Jobs Act (TCJA) was hailed as the largest major tax reform for the past three decades. In particular, the TCJA contains a series of favorable accounting method reforms that will impact countless of business taxpayers such as the use of cash method of accounting and the Read the full article…
You have been in business for a while now and experienced a great deal of success along with some struggles with your growing business. Your office staff are fine, but it might be time to reevaluate your business management team. Your legal advisor is one of the best in town. The bank treats you well. Read the full article…
