Sports and Entertainment
Those in the sports and entertainment arena lead demanding lives, making it difficult to manage day-to-day finances and meet complex tax or reporting requirements. Tapping our specialized expertise is a wise decision as many athletes, industry executives, media broadcasters and producers have found.
Profound Insight in Personal Wealth Management
The PKF O’Connor Davies team delivers personalized lifestyle and business management, tax planning and post-career advisory services. Our partners and professionals are highly skilled and deeply knowledgeable in personal financial management as well as accounting, tax and regulatory requirements – all of which affect athletes and entertainers in very different and significant ways. We offer critical tax statement “second opinions” and multi-state tax planning, reporting and filing – and we are leaders in creating and managing foundations for those who wish to promote personal commitments.
“We spend a lot of time and effort helping athletes correct financial mistakes and then setting them on the right track to financial stability and wealth maximization.”
-Robert A. Raiola, Forbes Magazine, September 23, 2014
Specialized Sports Tax Expertise
Professional athletes are subject to a tax levied according to a complicated formula that varies from state to state, making our expert guidance indispensable. This tax can be a determining factor when weighing offers from teams in different states and deciding where to establish personal residency. While star players often account for this tax in contract calculations and negotiations, younger players typically don’t have this option and rely on our help to plan ahead for these sizeable payments.
Reliable Guidance from “The Sports Tax Man”
With more than 20 years of experience in both the public and private sectors, Robert Raiola is widely known as “The Sports Tax Man” and has a substantial Twitter following at @SportsTaxMan. He co-authored the AICPA book Winning Tax Strategies for Athletes & Entertainers and has lectured nationally on the topic.
A Single-Point-of-Contact for a Full Line-up of Services
The PKF O’Connor Davies team helps manage current financial obligations while keeping clients on track to fulfill short-term commitments and achieve long-term goals through:
- Specialized tax compliance and planning, including multi-state, international and cross-border transactions
- Lifestyle management services, including bill paying, cash flow planning, transaction analysis
- Insurance analysis and risk management
- Cash management
- Post-career planning
- Representation in regulatory inquires, including IRS and state examinations