Helio Castroneves, three-time winner of the Indianapolis 500 and professional race-car driver, was embroiled in a long, public battle with the Internal Revenue Service over his income taxes. The Castroneves case puts other professional athletes on notice to ensure that they remain in compliance with their U.S. tax filing obligations. All U.S. citizens and residents […]

Professional athletes often need to postpone the filing date of their U.S. tax returns due to their playing seasons, travel schedules, and other obligations. For those individuals who filed U.S. federal extensions (Forms 4868) by April 15, 2010, their tax returns were extended to October 15. A couple points to keep in mind with regards […]

Virginia Business has recognized Dr. John Karaffa, the Founder of ProSport CPA, as one of its 2010 “Super CPAs” in the categoy of Individual Taxation. Virginia Business identifies the “best of the best” of the Certified Public Accountant (CPA) profession through this special program that highlighs Virginia’s top CPAs for their contributions to their profession […]

Professional athlete charitable foundations often have substantial impacts on the causes they support. One has to look no further than Lance Armstrong’s LIVESTRONG, Ronnie Lott’s All Stars Helping Kids, or Andre Agassi’s Athletes for Hope. Despite the great successes of such pro athlete charitable foundations, many charities founded by pro athletes fail. Setting up a […]

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Dr. John Karaffa, President of ProSport CPA, was invited to speak at the National Football League Players Association’s Financial Advisor Conference in May in Hollywood, Florida. Dr. Karaffa’s study, Retired NFL Players Perceptions of Financial Decisions Made: A Phenomenological Study, provided valuable insight to the field of financial planning for professional athletes. Dr. Karaffa presented his findings […]

Certified Public Accountant Marketing Campaign Profiles Dr. John Karaffa of ProSport CPA The American Institute of Certified Public Accountants (AICPA) has chosen Dr. John Karaffa as one of its key members for the recent advertising campaign to attract new entrants into the profession. Start Here, Go Places (www.startheregoplaces.com) was created by the AICPA to inform […]

John Karaffa, President of ProSport CPA PLLC in Virginia, recently received a Doctor of Business Administration from the School of Advanced Studies at the University of Phoenix. Dr. Karaffa, who pursued his doctoral studies starting in 2006, had earned a MBA from Schiller International University in 1995, and a Bachelor of Science in Accounting from Butler […]