Say hello to John Whiston, this month’s Member Spotlight volunteer! Learn more about him and his involvement in the industry:
Name: John Whiston
Company: DFS Accounting Services, LLC
Location: Chicago, IL
Tell us about yourself and your organization!
DFS Accounting Services, LLC is a registered and licensed CPA firm with the Illinois Department of Professional Regulations, AICPA and IL CPA Society. We’re a consulting and advisory firm with 30+ years of accounting and tax experience. Our focus is providing unparalleled tax and consulting services to the casual and professional Daily Fantasy Sports (DFS) Player. DFS is an exciting and competitive industry that offers big payouts. We understand the lure of playing DFS because we play it ourselves! With big winnings comes big tax responsibilities, and that’s where we come in. Think of DFS Accounting Services as your partner. We’ll focus on the taxes and record keeping, so you can concentrate on your lineups and winning.
How did you get your start in the fantasy sports industry?
DFS Accounting Services, LLC got started in the DFS industry when we saw numerous DFS players inquiring about tax services and the 1099’s that they were receiving. There are many people who are not aware about the tax implications of their DFS winnings. We also want to educate DFS players about their tax situation and work with them to mitigate their tax liability and audit exposure.
How many years has your organization been in business?
One year, but we have been providing tax and advisory services for 30+ years.
What made you decide to join FSTA?
DFS Accounting Services, LLC joined the FSTA to increase our exposure to the DFS industry, meet people within the community and educate people within the community on their tax situation. We believe FSTA is a great resource for the DFS community and we want to be apart of it.
What are you looking to get out of your membership with FSTA?
DFS Accounting Services, LLC is looking for a partner so we can network with others who are as passionate about the DFS industry as we are, meet the FSTA members, and bring awareness to the tax implications of DFS activities.
Where do you see the greatest opportunity for growth in the industry?
DFS Accounting Services, LLC believes that there is opportunity for tremendous growth in the financial and educational side of the industry. Many players may not understand or have time to understand their tax situation. By working with DFS players, we take on the burden of maintaining their books and records, and preparing their tax return. This in turn allows DFS players to focus on what they are good at, winning. By teaching DFS players the tax implications, we make the community smarter and more aware. This will allow them to make informative decisions while playing DFS and/or expanding their business ventures.
Finally, what’s your favorite fantasy sport?
At DFS Accounting Service, LLC, we like ALL sports. All of our partners love watching sports, going to games, and playing DFS. This is why we are excited to be apart of the FSTA community. There is nothing better than getting to work with people who share the same interests and passion.
Thanks for sharing, John! We hope to see you at the FSTA 2017 Winter Conference.
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