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Investing in the Home Team: How NIL Collectives Can Maximize Tax Savings

CTP

Sports fans know that team loyalties run deep. Committed supporters of college and even high school sports teams now have even more opportunities to make major investments in up-and-coming athletes. In short, to be a nonprofit, your organization must focus on supporting public interests, not private interests.

Tax 52
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Tax Planning for Student Athletes: Working with NIL Collectives

CTP

The collective is an organization that pools fundstypically donations from fans of a schools sports teamso they can secure NIL deals for student athletes. What exactly is an NIL collective? These deals can include sponsorships or activities, such as showing up at a grand opening or visiting the kids in a Children’s Hospital.

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Tech news: Bloomberg announces new features for AI Assistant

Accounting Today

It now sports an integration with Bloomberg Tax news pages and articles, enabling users to interact with news articles to extract tax-related implications or track emerging developments without disrupting their workflow. It not only surfaces the relevant authorities but also explains them in context.

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Tax Fraud Blotter: Sick excuses

Accounting Today

Hass used company money to fund his personal lifestyle, including the purchase of luxury vehicles, high-end watches and jewelry, designer clothing, tickets to sporting events, home renovations, vacations, water sports vehicles and extravagant meals. He lied to the court, to the U.S.

Tax 85
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AUP Inspections and the NYS Film Tax Credit Program

Withum

The credit does not apply to productions such as documentaries, news programs, sporting events, game shows, commercials, music videos, and reality programs. A Qualified Film can include feature-length films, television films, relocated television productions, and television pilots and/or series.

Tax 52
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Clothing taxation – and major exemptions

TaxConnex

This exemption does not apply to fur clothing; accessories or equipment; sport or recreational equipment, or protective equipment (unless the protective equipment is necessary for the daily work of the user). Says New Jersey , Sales of articles of clothing and footwear for human use are exempt from New Jersey Sales Tax.

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Tech news: Karbon Practice Management evolves into Practice Intelligence

Accounting Today

Progress ShareFile rolls out client hub, other enhancements SpicyTruffel - stock.adobe.com Document sharing and collaboration solutions provider Progress Software announced that Progress ShareFile , its SaaS-native document-based collaboration and client workflow product, now sports a client hub and other enhancements for accountants.