International Tax Issues for Athletes and Entertainers 2024

Overview

Sports and entertainment industries continue to grow, and the taxing authorities want their share of the pie. Understand the rules that apply to US 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.

Highlights

• Determine the residency of an international athlete or entertainer
• Identify methods to avoid double taxation for US 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

Prerequisites

None

Designed For

CPAs and financial professionals who work with athletes and entertainers that have international income or holdings.

Objectives

• 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

Preparation

None

Notice

This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by the California Education Foundation (CalCPA). Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.