Most people love a little gossip and celebrities are often the best source, especially when they get into financial troubles. However, with the help of a good business manager and a little financial literacy, people can keep their names out of the newspaper, off the internet, and off the radar of auditors.
Business managers aren’t just for celebrities. You can learn from them, too.
Joining us on this episode of the TaxGirl podcast is Greg Zbylut, in-house counsel and tax manager with Singer Burke. Greg has represented a variety of clients, including celebrities, athletes, and Fortune 500 companies in matters like tax filing, audits, and even daily business management. He brings his expertise to the show as we discuss everything surrounding business management and some of what he’s seen over the years representing clients that might just save you.
Listen to Kelly and Greg talk about business management:
- Business management definition
- Where do clients come from
- How little celebrities, athletes, and entertainers actually make after everyone else takes out their cuts
- The difficulty of working in the gig economy
- How some clients get into financial trouble because of an expectation they’ll cover tabs for friends and family
- Problems commonly found among second-generational wealth
- Some of the ways movies and shows get taxes, finances, and the law wrong
- If misinformation in entertainment is partially responsible for people’s financial problems
- Residency audits
- Privacy challenges when dealing with financial problems
- The correlation between how high-profile someone is and the likelihood interviews and articles can create audits and other financial issues
- How a firm and business manager’s reputation can have a major impact on audits and other dealings
More about Kelly:
Kelly Phillips Erb created and hosts the Taxgirl podcast, your home for tax news, tax info, and tax policy. In each episode, she shares conversations about taxes, money, and the choices we make. Kelly is a tax attorney who works with taxpayers and tax practitioners like you every day. She helps folks out of tax jams, and hopefully, keeps others from getting into them.
To subscribe to the podcast (it’s free!) using Apple, Spotify, or your favorite listening app, click here.
Kelly’s Website: Taxgirl
Greg Zbylut’s website: Singer Burke