We are a California based firm of CPAs and experienced business professionals, specializing in accounting, tax, and other financial services for high net worth individuals and their businesses. We have earned the trust of several of today’s most prestigious artists, athletes, and entertainers by providing high quality, comprehensive management and advisory services which are defined by the following characteristics:
- We deliver our services through a team of knowledgeable, experienced financial professionals. Although we are more than just accountants and bookkeepers, we are always mindful that our core responsibilities are to protect assets and provide financial information that is timely, accurate, and useful for decision making.
- We place a premium on being attentive. In our view, tailoring a plan to meet a set of goals is more than an exercise on paper. We also provide the commitment and individual attention necessary to bring that plan to life.
- We are proactive. As seasoned professionals serving artists, athletes, entertainers, and other high net worth clients, we know the wide range of risks these individuals and their businesses face. We do not wait for the risks to unfold, choosing instead to take action before a potential issue becomes a full blown problem.
- We take a holistic view of our clients’ finances. We work with other advisors, including bankers, lawyers, investment advisors, estate planners, and insurance professionals to help our clients realize their full financial potential and protect their livelihoods.
- We have a solid support team, including an extensive network of business partners and connections in most of the major cities across the globe. In cases where a client has a need in an area where they have no existing relationship to conduct transactions, such as matters of real estate, implementing insurance plans, or carrying out investments in certain types of securities, we help them make and provide a formal introduction to the necessary connections.
Our client base includes individuals and businesses from across the sports and entertainment landscape, such as production, theatre, and media companies including:
- Actors – We provide you with the ability to ply your trade without needing to worry about your finances. We also track and ensure the fullest returns from royalties you may be entitled to.
- DJs – M.B.M. will help to keep what you pay into the “jock tax” at an absolute minimum and also organize and manage your deductions so that both withholdings from your salaried income and estimated taxes for endorsement income all reconcile at the end of the year.
- Musicians – Our firm helps understand necessary self-employment taxes and keeps you abreast of the possible deductions you are entitled to from unreimbursed purchases for your profession.
- Producers – Allow us to help you get the greatest tax credits for your productions by identifying loopholes and premium credits based on where you operate and how much you are looking to spend. In addition to music producers and line producers, we also offer tax services for television showrunners.
- Composers/Singer Songwriters – We offer tax and accounting services for freelancer professionals, including writers-for-hire. We help you get the most out of your profession by analyzing your possible deductions and helping you manage your royalty income.
Whichever category above describes you the most, or if you fall outside of these classifications, it is important to understand that most high net worth individuals usually earn income in a variety of ways, including being paid on a W-2, 1099, K-1 or none of the above. You can be confident that the C.P.A.s and tax professionals at Melwani Business Management will make sure that you pay the least amount of taxes within federal, state and local laws while at the same time proactively planning for future income and taxes.
Contact Smart Services today for more information about how we can leverage our experience and reputation to meet the needs of your industry and business vertical.