Celebrity & High-Net-Worth Business Management
Specialized business management for entertainers, athletes, executives, and high-net-worth individuals — wealth protection, tax strategy, and fraud prevention.
Tools & Resources
Key Terms to Understand
Non-Compete Agreement (California)
A contractual restriction preventing one party from competing with another after employment or sale. In California, non-compete agreements between employers and employees are generally void and unenforceable under Business & Professions Code §16600 — one of the strictest non-compete prohibitions in the country. The major exception: non-competes signed in connection with the sale of a business are enforceable for a reasonable geographic and time scope. This dramatically affects how California businesses are sold and how key employees can be retained.
FICA (Self-Employment Tax)
Federal Insurance Contributions Act tax — Social Security (6.2%) plus Medicare (1.45%) — paid on wages by both employee and employer (total 15.3%). Self-employed individuals (sole props, single-member LLCs, partnerships) pay both halves themselves as self-employment tax. Social Security portion caps at $168,600 (2024); Medicare has no cap but adds 0.9% on income above $200K single / $250K joint. Avoiding FICA on the distribution portion of income is the #1 reason high-earning service businesses elect S-Corp status.
Dealing with celebrity & hnw? Let's talk.
Dennis Duitch has guided hundreds of business owners through celebrity & hnw situations across technology, entertainment, manufacturing, and professional services.
MBA, Northwestern University · CPA · Certified Business Appraiser · Mediator · 30+ years of practice