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.
Learning 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.
Major Topics
- Determine the residency of an international athlete or entertainer
- Identify methods to avoid double taxation 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
