EPISODE · Oct 4, 2024 · 1H 2M
Athletes, Entertainers and Influencers; Navigating the Tax Challenges of International Earners
from The Essential Tax Podcast · host Mishkin Santa, The Wolf Group
In an increasingly interconnected world, Athletes, Entertainers and Influencers often generate income across borders, presenting unique tax challenges. This webinar is tailored for the professionals advising clients with international earnings. Topics include: * Key differences in income, withholding, and other related tax obligations across the USA, Europe and India * Understanding residency, application of income tax treaties, and cross-border taxation rules for globally mobile clients * Strategies for managing global tax efficiency liabilities, and compliance issues including international informational reporting, and mitigation of penalty traps Resource links: * IRS FAQ on Swag Bags: https://www.irs.gov/pub/irs-news/ir-06-128.pdf * Derrick Henry $250,000 Diet: https://www.essentiallysports.com/nfl-active-news-after-two-fifty-thousand-diet-went-viral-ravens-derrick-henry-reveals-painful-truth-about-his-eating-habits/ * Nano-Influencers Article: https://hbr.org/2024/09/when-it-comes-to-influencers-smaller-can-be-better * US Tax Treaty Table 1 - Tax Rates on Income other Personal Services: https://www.irs.gov/pub/irs-lbi/tax-treaty-table-1.pdf * US Tax Treaty Table 2 – Compensation for Personal Services: https://www.irs.gov/pub/irs-lbi/tax-treaty-table-2.pdf * US Tax Treaty Table 3 – List of US Tax Treaties: https://www.irs.gov/pub/irs-lbi/tax-treaty-table-3.pdf * US Tax Treaty Table 4 – Limitation on Benefits: https://www.irs.gov/pub/irs-lbi/Tax_Treaty_Table_4.pdf * US Totalization or Social Security Agreements: https://www.irs.gov/individuals/international-taxpayers/totalization-agreements * IRS Audit Technique Guide for Hobby Losses: https://www.irs.gov/pub/irs-pdf/p5558.pdf * The Money Game: https://www.amazon.com/The-Money-Game-Season-1/dp/B0D7KT8VQM * Name, Image, Likeness (NIL) Taxation: https://www.taxpayeradvocate.irs.gov/get-help/general/nil/ * Name, Image, Likeness (NIL) Agreements: https://www.taxpayeradvocate.irs.gov/news/nta-blog/nta-blog-student-athletes-involved-in-nil-agreements-should-be-aware-of-their-tax-obligations/2023/12/ * Wolf Group Blog Post on Taxation of Cross-Fit Athletes: https://thewolfgroup.com/blog/the-2018-crossfit-games-offer-more-than-a-taxing-workout-they-illustrate-how-new-u-s-tax-law-%C2%A7199a-affects-non-resident-aliens/
What this episode covers
In an increasingly interconnected world, Athletes, Entertainers and Influencers often generate income across borders, presenting unique tax challenges. This webinar is tailored for the professionals advising clients with international earnings. Topics include: * Key differences in income, withholding, and other related tax obligations across the USA, Europe and India * Understanding residency, application of income tax treaties, and cross-border taxation rules for globally mobile clients * Strategies for managing global tax efficiency liabilities, and compliance issues including international informational reporting, and mitigation of penalty traps Resource links: * IRS FAQ on Swag Bags: https://www.irs.gov/pub/irs-news/ir-06-128.pdf * Derrick Henry $250,000 Diet: https://www.essentiallysports.com/nfl-active-news-after-two-fifty-thousand-diet-went-viral-ravens-derrick-henry-reveals-painful-truth-about-his-eating-habits/ * Nano-Influencers Article: https://hbr.org/2024/09/when-it-comes-to-influencers-smaller-can-be-better * US Tax Treaty Table 1 - Tax Rates on Income other Personal Services: https://www.irs.gov/pub/irs-lbi/tax-treaty-table-1.pdf * US Tax Treaty Table 2 – Compensation for Personal Services: https://www.irs.gov/pub/irs-lbi/tax-treaty-table-2.pdf * US Tax Treaty Table 3 – List of US Tax Treaties: https://www.irs.gov/pub/irs-lbi/tax-treaty-table-3.pdf * US Tax Treaty Table 4 – Limitation on Benefits: https://www.irs.gov/pub/irs-lbi/Tax_Treaty_Table_4.pdf * US Totalization or Social Security Agreements: https://www.irs.gov/individuals/international-taxpayers/totalization-agreements * IRS Audit Technique Guide for Hobby Losses: https://www.irs.gov/pub/irs-pdf/p5558.pdf * The Money Game: https://www.amazon.com/The-Money-Game-Season-1/dp/B0D7KT8VQM * Name, Image, Likeness (NIL) Taxation: https://www.taxpayeradvocate.irs.gov/get-help/general/nil/ * Name, Image, Likeness (NIL) Agreements: https://www.taxpayeradvocate.irs.gov/news/nta-blog/nta-blog-student-athletes-involved-in-nil-agreements-should-be-aware-of-their-tax-obligations/2023/12/ * Wolf Group Blog Post on Taxation of Cross-Fit Athletes: https://thewolfgroup.com/blog/the-2018-crossfit-games-offer-more-than-a-taxing-workout-they-illustrate-how-new-u-s-tax-law-%C2%A7199a-affects-non-resident-aliens/
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Athletes, Entertainers and Influencers; Navigating the Tax Challenges of International Earners
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