Tax Laws and Residency: Challenges for International Athletes
In a globalized sporting world athletes cross borders more frequently than ever
Money Smart Athlete Blog
tax
Tax Implications of Charitable Giving: What Athletes Need to Know
For professional athletes, charitable giving can be more than just giving back — it can be a smart financial move as well. With high income and public visibility, athletes are in a unique position where philanthropy converges with tax planning. Being familiar with the tax implications of charitable giving is essential so that informed choices can be made and the impact of the athlete’s generosity is optimized.
Athletes and Post-Tax Season Review: Lessons to Improve Next Year’s Planning
As an athlete, tax season can often feel like one of the most stressful times of the year. Between fluctuating income, sponsorship deals, endorsement contracts, travel expenses, and performance-related deductions, managing your taxes can be a complex task. However, once tax season is over, it’s a perfect opportunity to reflect, review, and learn from the past year. By doing so, you can create a better plan for the upcoming year, making the next tax season smoother and more efficient. Here’s how to use your post-tax season review to improve your tax and financial strategy for next year.
Athletes Preparing for a Tax Audit: Staying Organized and Proactive
A tax audit can be an intimidating process, but for individuals, staying organized and proactive can make the experience more manageable. By understanding the requirements, maintaining good records, and addressing any issues early, you can ensure the process goes smoothly and avoid any unnecessary stress.
Maximizing Deductions: Tax Benefits Unique to Athletes
Let’s face it—pro athletes live a life most of us can’t imagine. Between constant travel, endorsement deals, and competing globally, their finances are anything but simple. And taxes? This is a whole different game. But here’s the good news; with the right strategies, athletes can score big tax savings.
Athlete Tax Basics: What You Need to Know
For professional and aspiring athletes financial success isn’t just about signing big contracts or landing endorsement deals