About
This detailed program explores the unique tax challenges and considerations faced by entertainers, performers, and influencers. It covers the complexities of income reporting, expense deductions, and compliance issues specific to individuals in the entertainment and social media industries. The program shows how to correctly categorize income, distinguish between business and personal expenses, and apply IRS guidelines to ensure accurate tax reporting. The program also examines recent legal cases, IRS audits, and common pitfalls in the taxation of entertainers and influencers. Lastly, the program provides case studies, and practical examples, to equip tax professionals with the knowledge needed to navigate the intricacies of taxation in the entertainment sector effectively.

This webinar is available for Virtual or LIVE In-Person attendance.

The LIVE class will be held at:
Bergen Community College at the Meadowlands 1280 Wall Street West, Lyndhurst, NJ 07071

Tax Professionals that attend are encouraged to accept a pro bono tax controversy case assignment from NYCLA, an ABA-sponsored Tax Court Pro program or a NY or NJ low-income Tax Clinic.

4 Free NY & NJ CLE, CPE and 4 IRS CE/4 NASBA CPE Credits
IRS Program #: 7Q3WU-T-00594-24-O
Agenda
  • Identify the various forms of income received by entertainers, performers, and influencers, and understand how to report this income accurately on tax returns.
  • Explain the criteria used to differentiate between ordinary and necessary business expenses versus personal expenses, ensuring proper deductions under current tax laws.
  • Analyze the implications of the Tax Cuts and Jobs Act on the deductibility of expenses for entertainers and influencers, particularly regarding the suspension of miscellaneous itemized deductions.
  • Evaluate the factors that determine whether a taxpayer in the entertainment industry is classified as an independent contractor or an employee, including the impact on tax reporting and deductions.
  • Determine the correct application of the qualified performing artist deduction and other special provisions applicable to low-income entertainers.
  • Examine recent IRS investigations and legal cases involving entertainers and influencers to identify common compliance issues and strategies for avoiding tax controversies.
Presenters
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Nicole Ramos
Director of Continuing Education
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