Archive by date ‘February 2012’
Tax Tips for Professional Athletes
As an advisor or agent to professional athletes, one responsibility you might have it to provide sound tax advice to your clients. Through careful planning & compliance, unwanted tax burdens and risk for your clients can be minimized. Important tax questions to consider for professional athletes include:
- What states do they need to file in?
- What can be done to minimize the tax situation?
- What state are they a resident in?
- What items can be deducted from their return?
Click here for a checklist of items that professional athletes should consider when it comes to income taxes.