Professional Athletes – Module 08 – The Economic Environment Contracts and Taxes

Personal financial planning is affected by several macroeconomic factors.  Therefore, when athletes plan their financial lives, they should take into account conditions in the wider economy and in the markets that make up the economy.

Since athletes will be dealing with professional sports contracts, it is important that they know some basic information about contracts and how taxes affect their income.

Topic: Financial & Life Skills Program
Module: 8

Professional Athletes

 

LESSON PROGRAM & COMPONENTS

  1. How economic conditions affect financial planning
  2. Contractual issues due to suspension of play
  3. Sports contracts
  4. Taxes
  5. Tax aspects of competing in solo-sports vs team sports
  6. Taxation and sports contracts abroad
  7. Tax efficient philanthropy for sports professionals
  8. Athlete tax basics – deductions & international income
  9. Post tax season review & preparing for tax audits
  10. Sports and Salary caps in the United States
  11. Collective bargaining agreements in sport

 

LESSON DETAILS

How economic conditions affect financial planning

Contractual issues due to suspension of play

 

Sports contracts

 

Taxes

 

Tax aspects of competing in solo-sports vs team sports

 

Taxation and sports contracts abroad

 

Tax efficient philanthropy for sports professionals

 

Athlete tax basics – deductions & international income

 

Post tax season review & preparing for tax audits

 

Sports and Salary caps in the United States

Collective bargaining agreements in sport

 

The Sports Financial Literacy Academy
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