Taxation of Entertainers, Athletes, and Artists

Author: Lionel S. Sobel
Publisher: American Bar Association
ISBN: 9781627229807
Published In: August 2015
Format: Paperback , 397 pages
Jurisdiction: U.S. ? Disclaimer:
Countri(es) stated herein are used as reference only

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As author Lionel S. Sobel states, most U.S. citizens want their taxes to be “as low as possible.” But, he explains, entertainers, athletes, and artists are not “most people,” and their often significant earnings and the available tax planning strategies may require special understanding and handling. These consideration may be especially important in how aggressive any tax planning methods are used that could be perceived negatively by their fans, the general population, and the media. Adding further complication, the law makes tax-significant distinctions that greatly affect entertainers, athletes, and artists, including issues such as residency, the Alternative Minimum Tax, and various international tax treaties.

In Taxation of Entertainers, Athletes, and Artists, Lionel Sobel discusses the many complex issues affecting the income taxation of these professionals. In the first part, the book deals exclusively with U.S. domestic taxation policies and procedures, covering how the United States taxes income earned in the United States by entertainers, athletes and artists who are U.S. citizens and resident aliens.

The book’s second part focuses on international taxation. These chapters address how entertainers, athletes, and artists are taxed in the United States, when income earned in the U.S. when they are non-resident aliens; and outside the U.S., in other countries tax when income earned in those countries when they are U.S. citizens and U.S.-resident aliens. Finally, the book discusses how the U.S. has provided some tax relief for those of its citizens and resident aliens who pay tax in other countries.

Chapter 1: Introduction

Part I: U.S. Domestic Taxation of Entertainers, Athletes & Artists
Chapter 2: Income
Chapter 3: Deductions and Credits
Chapter 4: Tax Year and Cash or Accrual Accounting
Chapter 5: Tax Rates and Taxes Payable
Chapter 6: Tax Withholding
Chapter 7: Employee, Independent Contractor or Partner
Chapter 8: Loan-Out Corporations
Chapter 9: Deferred and Contingent Compensation

Part II: International Taxation of Entertainers, Athletes & Artists
Chapter 10: U.S. Taxation of Foreign Entertainers, Athletes & Artists
Chapter 11: Foreign Taxation of American Entertainers, Athletes & Artists
Chapter 12: Tax Treaties
Chapter 13: Endorsement Income
Chapter 14: Tax Indemnity Agreements

Lon Sobel is the past Chair of the ABA Forum on the Entertainment and Sports Industries. He is now a Visiting Professor at UCLA School of Law where he teaches a course on the taxation of entertainers, athletes, and artists.

Previously, he was a Professor at Southwestern Law School and Loyola Law School where he taught courses on personal income tax, business income tax, and entertainment law. He has testified as an expert witness before the United States Tax Court in a case involving international intellectual licensing practices in the motion picture, music, and computer software industries.