Athletes & Entertainers

We have specialized expertise for the uncommon financial challenges of public life

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Athletes and Entertainers Accounting

Athletes and entertainers are public figures with financial complexities ranging from the administrative burdens of filing tax returns in various jurisdictions to budgeting needs contingent upon the inherent uncertainty of how long their careers will last. Our team provides services in all aspects of their financial lives: from helping agents understand the tax implications of contracts, to evaluating deductions ordinary and necessary to their specific lines of work, all the way to understanding the complex tax codes of all jurisdictions in which they are required to file. Our goal is to help athletes and entertainers thrive in their fields, keep as much of their hard-earned money as possible, and set themselves up for a secure post-playing or post-entertaining career.

Multi-State Tax – Professional Athlete

Our CPAs were contacted by a collegiate football player who was drafted by an NFL team. The recruit also received a signing bonus, which came before he had to officially report to the team.

The structure of the signing bonus agreement was written in a manner consistent with general tax treatment as it was taxable to the player’s state of residence, not the state where the team is located. There was no contingency in the agreement for the recruit to ever play for the team or return the bonus if the team cut him.

From a tax perspective, there was a significant difference in tax rates between the state where the recruit resided and the state where the professional team was located. On behalf of the recruit, our CPAs challenged the Department of Revenue where the team was located, and the recruit received significant refund of the tax withheld.

5 yrs.

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Since I began working with Eric Seidman and Wouch, Maloney & Co. in 2015 I’ve been consistently pleased with how quick he is to respond to my questions – both routine and complicated – and with how much value he has provided over the years to my film production business and my family.

Bucks County Center for the Performing Arts was incorporated in 2016 and has been guided by Wouch & Maloney from its inception. We received guidance through all of the government PPP and now that the PPP has been extended to December 31, 2020, we shall be able to use all of the funds and Wouch Maloney continues to guide our company with pertinent business ideas.

Our Athlete & Entertainment Experts

Offering knowledge and skill attuned to the athletic & entertainment markets.

Business Advisor Maloney at Wouch Maloney - Accounting Audit Firm in Horsham & Philadelphia

John F. Maloney

Email: Send A Message
Call: 215.675.8364

Business Advisor Straccione at Wouch Maloney - Accounting Audit Firm in Horsham & Philadelphia

Adrienne Straccione

Email: Send A Message
Call: 215.675.8364

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