As a gamer competing in eSports, you’re facing some big financial decisions and filing taxes needs to be a high priority. Some pro gamers are taking too many chances with the Internal Revenue Service (IRS) by not complying with U.S. tax laws. Different countries have different rules regarding income that must be declared. Americans, no […]

You’re facing some big financial decisions and filing taxes needs to be a priority. Some American athletes are playing a dangerous game with the Internal Revenue Service (IRS) by not complying with U.S. tax laws. Others are passing up valuable opportunities to receive refunds from their host countries. As Americans, no matter where we earn […]

For Americans playing in the Canadian Football League (“CFL”), along with learning the playbook, absorbing the foreign culture, and taking care of business on the field, filing taxes should be of paramount concern. Some American imports, however, are playing a dangerous game with the United States’ Internal Revenue Service and the Canada Revenue Agency by […]

BasketballElite caught up with John Karaffa of ProSport CPA at this year’s Portsmouth Invitational Tournament. ProSport CPA provides expert tax, accounting, and financial education services to professional athletes, including over 100 professional basketball players in the NBA, WNBA, and overseas. For more information or to speak with a financial professional, knowledgeable about taxes for professional […]

The Richmond Times-Dispatch caught wind of ProSport CPA’s great story and ran a feature article on Memorial Day. Professional athletes, such as Virginia Tech’s Danny Coale who now competes for the Dallas Cowboys, realize the importance of having trusted, quality advisors on their team. For more information or to speak with a financial professional, knowledgeable […]

Fox News enlisted the help of ProSport CPA’s founder, Dr. John Karaffa, in a highly-circulated article about California’s income tax rates. The article, Millionaire Athletes Flee States With High Income Taxes by Joshua Rhett Miller, analyzed Phil Mickelson’s recent comments about California’s newly-enacted tax increase on millionaires. In the article, Dr. Karaffa commented about California […]

Accounting Today magazine named Dr. John Karaffa its Accountant of the Month. The article is available online currently and will appear in the January 2013 edition of the magazine. More can be found by accessing the article online. Accounting Today is a leading provider of online business news for the tax and accounting community, offering breaking […]

As the New Year is here, it’s time to start accumulating the data you will need to provide to your accountant. Whether you’re a player in the NFL, NBA, MLB, NHL, MLS, WNBA, CFL, racing, boxing, overseas, or other pro sports, you have unique deductions that you can take due to your profession. Some tips to help save you money: […]

With professional athletes facing overall tax rates in excess of 40%, appropriately utilizing all available Internal Revenue Service (IRS) tax deductions is a necessity. Professional athletes face unique costs due to their profession. Fees for agents, trainers, advisors, and union dues are all tax-deductible, as well as many other expenditures that are often overlooked. The […]

Tax laws are ever-changing and complex. For professional athletes, taxes play a huge role and they must be accounted for comprehensive financial plans are being developed. Financial advisors, who work with professional athletes, can grow their businesses by partnering with strong accountants who also specialize in serving this unique niche. As regulatory agencies and brokerage […]