Tax Planning
In addition, we have partners that offer advanced tax planning and preparation services through our network of CPA’s. We partner with them to help you navigate the complex State and Federal tax laws that apply to professional athletes and coaches and work to minimize your tax liability while still ensuring compliance with all applicable rules.
Tax planning for NFL athletes and coaches is complex due to playing in different states and cities each year, each with its own tax laws and regulations.
Dealing with state withholding taxes, residency rules, and varying tax rates adds to the challenge. It is crucial for athletes and coaches to work with our tax professionals who understand the complexities of planning for individuals who work in multiple locations. Staying updated on tax laws and collaborating with financial advisors helps minimize tax liability and ensure compliance with relevant tax laws, avoiding legal issues and penalties.
How we can help
Each state and city has its own tax laws and regulations, which means that athletes and coaches need to navigate a complex web of tax codes. They must also deal with state withholding taxes, confusing residency rules, and differing tax rates. This can make tax planning particularly challenging for NFL athletes and coaches, who earn large salaries and often have significant bonuses and endorsements.
To avoid legal issues and potential penalties, it is crucial for athletes and coaches to work with tax professionals who understand the complexities of tax planning for individuals who work in multiple states and cities. By staying up-to-date with current tax laws and working closely with financial advisors, NFL athletes and coaches can minimize their tax liability and ensure that they comply with all relevant tax laws.
