Topics covered include:
Overview of state-residency rules in the determination of state taxes;
General rules and guidance concerning multistate taxation of nonresident athletes and entertainers;
How residency credits can reduce the effect of multistate taxes;
The use of personal service companies to manage tax issues do they still work?;
Rules for teams, employers or promoters be wary of withholding taxes;
Dealing with state tax audits.
Upon completing this course, you should be able to:
Recognize the multistate personal income tax treatment, trends and issues related to athletes and entertainers;
Identify steps to take and opportunities to pursue to reduce state tax problems for athletes and entertainers;
Identify the big three as it relates to a professional athlete/entertainer's tax burden;
Differentiate the central issues related to income taxes;
Identify one of the basic residency tests;
Recognize which states have a state residency test based on domicile or statutory residency;
Differentiate proper statements with respect to allocation methods of nonresident income;
Identify which state doesn't have a personal income tax withholding;
Recognize taxes levied based on away games played in states that impose an income tax;
Identify the percentage state income tax can range from;
Describe applicable questions with respect to the concept of allocation;
Recognize which state has a state residency test based on domicile or non-temporary/transitory purposes;
Differentiate factors in the factor-based tests with respect to the concept of residency;
Identify athlete case studies related to residency and the process of counting games;
Recognize allocation methods most common method and is considered the federal method;
Recognize IRS cases considered issues such as place of performance and home base;
Differentiate statements regarding signing bonuses;
Identify state situations regarding nonresident personal income tax withholdings.
$ 51.00
Course is unavailable for purchase.
NASBA Field of Study
Taxes
Level
Intermediate
CPE Credits
2.0
Prerequisites
Basic understanding of state income tax topics.
Last Updated
01/31/2018
12606
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