James A. Jacaruso, Jr.
James Jacaruso is a Director in the firm's Athletes and Entertainment Group, within the Private Client Services Group. Jim has more than 30 years of tax compliance and planning experience. His areas of focus are personal and fiduciary income taxation, gift taxation and wealth transfer planning, in addition to professional athletes and entertainers.
Jim has advised professional athletes and their management teams on tax matters relating to defining, maintaining and changing a tax home or tax domicile to support the identification of an athlete’s resident state for income tax purposes. He also advises on duty-days allocations in connection with contract negotiations related to performance and signing bonuses.
Jim has extensive experience with tax controversy matters related to statutory residency issues and has represented clients before several state taxing authorities, including the California Franchise Tax Board; Connecticut Department of Revenue, New Jersey Department of Taxation and New York State Department of Taxation and Finance in addition to New York City Department of Finance.
Prior to joining the firm, Jim was a Tax Director and team leader at both multifamily and single-family offices, where he was responsible for the day-to-day management of tax groups, staff training, practice development, and all client-related functions, including compliance and tax planning. Clients included family offices and ultra-high net worth individuals, including professional athletes, entertainers, Broadway impresarios, playwrights, agents and sports union leaders among others.
Jim has presented before professional groups and has written articles on topics of tax planning and contributed to financial planning and family office articles for professional publications. In addition, Jim is involved with several sports-related philanthropic organizations, including David Cone Foundation, Inc., The Don Larsen Foundation, Inc. and Ed Randall’s Fans for the Cure.
- Individual Taxation & Planning
- Fiduciary Tax Matters
- Gift Tax
- Family Office Services
- Athletes & Entertainers
Credentials & Education
- Enrolled Agent (EA)
- Hofstra University: BBA, Public Accounting
- New York State Society of Certified Public Accountants