Understanding Accounting Needs in the Entertainment Industry
The dynamic entertainment sector needs specialized accounting and tax strategies to address the complexity of:
Multiple revenue models: Accurately tracking revenue streaming from transactional, ad, subscription and other models is complex and time-intensive.
Digital rights management (DRM): Analyzing revenue losses from piracy and accounting for the depreciation value of DRM technologies requires professional expertise.
Compliance differences in international co-productions: Co-productions with parties from different countries involve dealing with different tax and accounting laws to determine tax obligations and revenue sharing.
Evolving tax laws for entertainers: Regulators are constantly updating tax laws for entertainers, especially regarding royalties, business expenses and income earnings.
Entertainment CPA Services
The experts at Marshall Jones will help you navigate all entertainment accounting and tax challenges so you can focus on core operations. We’ll tailor our solutions to your needs and goals while helping you save on the costs of hiring an in-house team.
Accounting
We’ll fine-tune your financial processes when you outsource accounting to us and provide services such as:
- Preparing accurate and compliant financial statements.
- Tracking and managing production, tours and other costs.
- Calculating royalty payments based on contract agreements.
- Cooperating with international accountants to streamline co-production accounting needs.
- Analyzing production budgets and creating cost reports.
- Advising on relevant tax credits and incentives.
- Evaluating the useful life of DRM technology or amortization reasons and estimating potential revenue losses from piracy.
- Assisting with budgeting.
Tax Planning
Whether you’re a high-income earner or a business, count on Marshall Jones to oversee all your tax planning and preparation needs. Our service involves:
- Identifying opportunities for entertainment tax deductions.
- Assessing tax filing needs.
- Looking for opportunities to reduce estate tax liabilities.
- Preparing tax returns.
- Monitoring unauthorized spending.
- Helping you meet tax exemption requirements.
- Liaising with international accountants to meet co-production tax obligations.
- Keeping up with changing tax laws.
Auditing
Our financial auditing services are ideal when you need to prove credibility to financial institutions, investors and other relevant stakeholders or mitigate risk. We audit royalty statements to verify accurate payments to rights holders. Our team also performs participation audits to confirm adherence to profit-sharing agreements.
Bookkeeping
We track revenue from different sources and record and business expenses while ensuring compliance with federal, state and local regulations. Our team will also help you maintain financial data using relevant software.
Why Marshall Jones Is Your Ideal Entertainment Tax Accountant
When looking for an experienced entertainment tax accountant in the Atlanta area, Marshall Jones emerges as an ideal partner. We offer personalized and innovative solutions to businesses and individuals in the entertainment industry. Using service quality and integrity as our guiding principles, expect accurate, thorough and on-time services.
We utilize cutting-edge technology like digital rights management software integration, cloud-based accounting platforms and real-time financial reporting to enhance service delivery and client satisfaction. We value innovation and its impact on boosting efficiency and streamlining workflows.
