Sports and entertainment industries continue to grow, and the taxing authorities want their share of the pie. Understand the rules that apply to U.S. athletes and entertainers working abroad.Likewise, foreign athletes and entertainers performing in the United States face a host of issues in both the Internal Revenue Code and tax treaties. Be prepared to advise these clients with tax minimization strategies.
Determine how to provide tax-advantaged planning to international athletes and entertainers.
Identify how to prepare and negotiate a Central Withholding Agreement for a foreign athlete or entertainer in the United States.
Determine the residency of an international athlete or entertainer
Indentify methods to avoid double tax for U.S. athletes and entertainers operating abroad
Know when a foreign athlete or entertainer is subject to tax in the United States
Determine how the IRS taxes compensation of foreign athletes and entertainers via withholding taxes
Central Withholding Agreements to reduce withholding taxes
How treaties can impact the taxation of international athletes and entertainers
CPAs and financial professionals.