The Use of AI and Machine Learning in Valuation and Forensics
Maximize opportunities while minimizing risk.
The landscape of entertainment tax planning and production incentives in the U.S. is growing increasingly complex, with over 20 states offering some form of incentives. Each program has its own guidelines, caps and compliance requirements, and navigating this complex environment requires knowledgeable and trusted experts.
From analyzing production incentives to coordinating with state film offices, our national Entertainment practice provides a unique set of strategic services geared toward maximizing opportunities while minimizing risks. Our specialties include film and television production, recording artists, songwriters and eSports. We represent a wide variety of clients in this space, from major motion picture studios and television networks/streaming platforms down to independent production companies, musicians, athletes, game developers, sound stages, post-production companies, commercial production companies and more.
Our deep expertise is unlike any other firm, and our entertainment industry accountants can help you take advantage of available incentives while navigating risks.
If you’re looking for a strategic entertainment accounting firm to help with your financial and consulting needs, we can help. Contact Peter Stathopoulos or Jane Klingmeyer to schedule a consultation.
We have performed entertainment incentive audits and agreed upon procedures in verification of qualified production expenditures for production companies across the United States, including Georgia, New York, New Mexico, Tennessee, Virginia, D.C. and other jurisdictions. Our experience runs the gamut from auditing “tent pole” productions for MPA members to representing independent film and television production companies.
Recent disruptions in entertainment content distribution have many networks and studios seeking ways to cut production accounting and finance costs. Outsourcing part of these responsibilities to an outside team can help reduce costs without sacrificing quality. Our experienced team of entertainment industry accountants can help with any outsourced accounting and finance needs.
Working with film tax credit lenders in private equity and banking, we analyze film and television budgets to forecast and compare resulting entertainment production incentives in multiple jurisdictions. In addition to statutory, regulatory and administrative guidance, we consider factors such as currency exchange rates to arrive at our final comparative projection of benefits.
Our professionals work with production companies and lenders to track entertainment incentives, including analyzing weekly and monthly production expense reports to ensure projected incentives are tracking as expected and identify shortfalls as early as possible. We also assist with certification applications and post-wrap reporting, including preparing tax returns and supporting documentation to claim tax credits.
We work closely with you and your representation to manage your ongoing financial responsibilities and achieve your goals. This includes paying bills, managing cash flow, budgeting, bookkeeping, tax planning and preparation, administering payroll, wealth management and more.
A well-crafted entertainment incentive can create massive economic development benefits for a jurisdiction. We can help create or modify incentive programs, forecast fiscal impacts, draft compliance guidelines and work with lobbyists to craft legislative strategies.
Working in the music industry brings unique financial challenges and opportunities. From reviewing royalty statements to developing an efficient tax structure, you need an entertainment accounting firm that understands the industry and can create a custom plan for your long-term success. Our professionals work closely with recording artists, musicians and songwriters and publishing companies to help them achieve their financial goals while minimizing risk.
Our music industry services include:
The world of eSports is growing exponentially, with millions of viewers across the globe tuning in on a daily basis to watch their favorite tournaments, teams and athletes compete. With cross-border competitions and investors or sponsors continuing to increase worldwide, there are many tax complexities and concerns to consider.
Working together with our Technology, Private Equity and Individual practices, Bennett Thrasher’s entertainment tax accountants provide creative solutions to help you navigate the ever-evolving tax considerations and financial opportunities that come with being a developer, caster, influencer, athlete or team, investor or sponsor.
Services we can provide include:
“The transfer pricing audit ended after the German tax authorities reviewed our Local File. It might have been the best money I have ever spent.” – Feedback from Finance Director of Irish Multinational in Healthcare Industry following a transfer pricing audit in Germany
“Ben and his staff have been fantastic. They have been very professional and extremely patient as we navigate through our transaction and the planning process.”
“We are incredibly grateful for the partnership, support and collaboration of you and your team…Your professionalism and collaboration truly made the difference for the Company, our teams and our leaders.”
“As always, we very much appreciate your hard work and the hard work of the entire BT team.”
“In the past, I have used two of the top four national accounting firms for advice. I have found Jeff Call’s firm Bennett Thrasher, the most responsive, always available and very, very helpful. Once I’m not around, I’m certain my state trustee will continue to rely on Jeff’s firm.”
“Bennett Thrasher provided exceptional second mile audit services for Trilith Studios. Their team was thorough, knowledgeable, demonstrated a high level of attention to detail and provided clear communication throughout the entire process. We highly appreciated their collaboration and the professional service they provided throughout the entire audit process.”
“Just when you have self-assessed your company to possibly be the worst client ever, the Staff at Bennett Thrasher make you feel like you are their most important and beloved client. That ability is an attribute you don’t see in many accounting firms.”
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