Audit Technique Guide: The Entertainment Industry
Author: Susan Harper
| CPE Credit: |
2 hours for CPAs |
Audit Technique Guides (ATGs) help IRS examiners during audits by providing insight into issues and accounting methods unique to specific industries. While ATGs are designed to provide guidance to IRS employees, they are also useful to small business owners and tax professionals who prepare returns.
ATGs explain industry-specific examination techniques and include common, as well as, unique industry issues, business practices, and terminology. Guidance is also provided on the examination of income, expenses, and recordkeeping.
Explore the ATG for the Entertainment Industry with Susan Harper, Certified Fraud Examiner, and former IRS Internal Revenue Agent for more than 30 years. With 20 years instructing CPE courses, Susan will deliver an “entertaining” and informative discussion involving the entertainment industry.
Publication Date: September 2023
Topics Covered
- Overview
- Relevant Terms
- Income Issues
- Capitalization and Cost Recovery
- Travel and Entertainment
- Recordkeeping
- Personal Expenses
- Music
- Songwriters
- Publishers
- Live Performers
- Managers
- Videos
Learning Objectives
- Describe the activities encountered involving individuals in the entertainment industry
- Identify issues and terminology pertinent to individuals in the entertainment industry
- Identify the audit techniques which may be used by IRS examiners
- Identify at what point in time implied copyrights exist
- Identify the IRC Section that relates to amortization of goodwill
- Identify the subject of IRC 263A(i)
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Auditing (2 hours)
Program Prerequisites
None
Advance Preparation
None
