Media Financial Management Association’s (MFM’s) Media Tax Summit will be a two-day virtual event. Understanding that the role of the media tax executive is changing, co-chairs Paul Nesterovsky, senior vice president of tax, Sinclair Broadcast Group; Sean Hetzler, senior director of tax, Tegna; and Dan McGuire, partner, state and local tax, KPMG, are preparing an event focused on building today’s best-in-class […]
The disruption that defines 2020 seems to extend into every corner of our professional and personal lives. It’s even affecting the tax calculations and reporting responsibilities for media businesses’ accounting and financial professionals.
In response to today’s announcement of a proposed tax reform outline, NAB CEO Gordon Smith said: “NAB supports today’s outline and the efforts of leaders in the U.S. Senate, House of Representatives and Administration to reform and simplify the tax code in a manner that will grow America’s economy. As lawmakers undertake the critical next step of crafting the details of this legislation, America’s broadcasters will continue to make the case that the tax reform goals of simplicity and economic growth will be undermined by any limitation to the full and immediate deductibility of business advertising costs. Advertising is a driving engine of the American economy, supporting millions of jobs and generating hundreds of billions in local economic activity, and this deduction must be fully retained in any successful tax reform effort.”