Sports & Entertainment
Centered in the heart of the mid-Atlantic region, our team specializes in the various fields of financial management services needed by the everyday athlete and entertainer. Capaldi Reynolds & Pelosi’s Sports and Entertainment team partners with athletes and entertainers as they tackle the unique financial challenges they face, both during their careers and over the long term.
Much like a quarterback needs their offensive line to provide support and protection during a game, today’s athlete and entertainer needs the protection and support of solid financial managers and accounting teams to help navigate ever-changing and dynamic economic changes to help maximize growth opportunities and limit financial risk. Capaldi Reynolds & Pelosi and CRA Financial have collaborated to form a specialized team of accountants and financial managers poised to aid our athletes and entertainers with services such as:
- Federal and multi-state tax compliance, consulting, and planning solutions
- Financial Management Services
- Personal CFO Services
- Retirement Planning
Industry Insights
REPEAL OF ENTERTAINMENT DEDUCTIONS
The Tax Cuts & Jobs Act (TJCA) repealed the deduction for business entertainment beginning in 2018. This includes expenditures for taking clients to sporting events and shows, and paying for season tickets for various sporting events. Generally, any dues for...
SOCIAL SECURITY DECISION-MAKING
Decisions regarding Social Security can be deviously complicated. There are thousands of rules, thousands upon thousands of additional codicils to clarify the rules, annual changes, and recent legislation, the Bipartisan Budget Act of 2015 (BBA), which drastically...
OVDP or Streamlined: Choosing an Offshore Disclosure Program
by Patrick J. McCormick When clients admit to a retroactive failure to meet filing requirements involving their offshore assets, the overarching question is typically the proper route for making a disclosure to the U.S. IRS. For a multitude of reasons, ‘‘quiet’’...
Thinking of Making an IRA Contribution for 2016?
There are many types of IRAs. This article will discuss Traditional IRAs, Roth IRAs and non-deductible IRAs, available to individuals (or a spouse of an individual) with earned income or collecting alimony. The first criterion to consider is your age. If you are over...
What am I Forgetting?
Spending a little bit of time thinking about your expenses for the year might lead to lower taxes. We often see taxpayers cheat themselves when it comes to the following: Medical expenses for themselves and their dependents. These are harder to deduct for federal...
Required Minimum Distribution
Sadly, the money that we defer from taxes in our 401(k)s and IRAs during our working lives must eventually leave the shelter of the retirement umbrella whether we like it or not. What is a required minimum distribution? The discussion below is not relevant to...