Sports & Entertainment Accounting & Advisory Services
At CJBS, we deeply understand the unique tax and accounting challenges athletes and entertainers face, from intricate tax filing regulations to complex contract negotiations and licensing issues. As expert sports accountants, we also know that each of our clients — from up-and-coming players to seasoned professionals — has unique needs and requires personalized strategies to help them minimize their tax burden and plan for a healthy lifelong income.
Our experienced tax advisors share trusted, long-term relationships with our clients, including top players from the MLB, NBA, NFL, and NHL, thanks to our comprehensive understanding of the sports industry and effective communication skills. Working together with your agent, team, and financial advisor, CJBS helps manage your money and protect your financial interests in the long run.
Sports & Entertainment Accounting & Advisory Services
IRS Communication
Our team deals with all communication with the IRS on your behalf, including any tax issues overseas. This includes handling IRS audits and inquiries, as well as any issues regarding taxes from previous years.
Cash Management
For sports and entertainment clients looking for a turnkey solution for their business needs, we offer cash management and bill payment services. Tracking your day-to-day bookkeeping in addition to doing your tax work allows our team to have an even more complete picture of your business.
Agreement Audits
Royalty, endorsement, and merchandise agreements can add up to big business for athletes. We carefully review any agreements for our clients on the front end, as well as auditing the transactions on the back end to ensure any agreement was fulfilled as outlined.
Business Consulting
As a professional athlete, you see many potential investment deals come your way. Our team thoroughly vets each opportunity for profitability and potential hurdles, such as tax issues. We also proactively recommend opportunities that generate cash flow, including real estate investments and annuities.
Contract Analysis
Our team walks you through the key financial and tax implications of your contract offers, so you understand how choosing to play for one team over another could affect your bottom line. And we explain precisely how to make up for potential tax losses during salary negotiations.
Retirement Planning & Wealth Building
We tailor wealth-building strategies and retirement plans for rookies and veteran players alike. Working with a financial advisor, our team thoroughly explains the implications of every scenario — for example, making the earnings from their peak playing years last for decades — then map out a plan to help you reach your retirement goals.
Tax Planning & Minimization Techniques
Analyzing your team contract(s) and helping you decide where to live are two key ways we help you minimize your taxes. Once you decide on your team and home state, we assist you with changing your residency status and help you understand how to reduce your future tax burden.
Tax Returns
CJBS prepares all federal, state, and local income tax returns for our sports clients. As experts in the various tax laws for different jurisdictions, we handle complex multi-state filings to help you minimize your tax burden and maximize your earnings. We also work with teams overseas, navigating issues such as tax credits and border and income exclusions for you.
Real Estate
For professional athletes, domicile selection — or choosing where to live — can have vast tax implications. We assist you with purchasing, financing, and managing your real estate properties, so you can confidently reach your goals today and in retirement.
Why CJBS?
Simply put, we speak sports. With more than a decade of expertise as tax advisors for professional athletes across the U.S. and abroad, CBJS understands the financial complexities that our high-profile and high-income clients contend with, such as multi-state filings and the tax implications of contracts. As MLB, NHL, NBA, and NFL accountants, we customize tax and financial strategies to help you keep — and grow — your hard-earned money. We’re also keenly aware of our clients’ busy schedules and always communicate in a clear, concise way — making sure you understand how decisions such as where to live will affect your current and future income.
With deep industry knowledge and connections to top sports agents, teams, and financial advisors, CJBS is a one-stop solution for professional athletes’ tax and accounting needs. We have a clear view of the big picture, ensuring your financial success today and helping you plan for a secure post-playing career and retirement.
Your Sports & Entertainment Accounting Expert
Ryan Guedel is a CPA who truly speaks the same language as his clients. A former college athlete with more than a decade at CJBS, he saw several of his teammates go on to play professional sports. When they needed straight talk — and rock-solid tax and financial advice — they turned to Ryan, who soon became a go-to source for their friends and colleagues as well.
General Sports & Entertainment FAQs
Will you review my tax return from the previous year or years?
Yes. CJBS will thoroughly review your return(s) from prior preparers with an eye to errors or missed opportunities. Most tax preparers don’t understand the intricacies of multi-state filings and, for example, will take a W-2 at face value instead of calculating an athlete’s taxes based on what’s called a duty day schedule. For high-earning athletes in particular, correct calculations can save significant dollars annually — for past, current, and future tax returns.
How do you analyze two competing sports contracts?
We essentially perform the same tax return calculation as above twice, factoring in each team’s schedule and your state of residence. Athletes can sometimes gain leverage for a salary increase by showing team management the results of our comparative analysis.
Can you loop in my agent or financial advisor when it comes to making big decisions?
Absolutely. CJBS regularly collaborates with an athlete’s financial advisor, agent, and family members, especially when deciding where to live. By having discussions with all key parties, we make sure that everyone is on the same page and any moves make sense financially in the long run.
Sports & Entertainment News & Updates
Stay current on the latest Sports & Entertainment industry developments and find out what it means for you and your business.
