Professional atheletes are great at making money but often lack the support and guidance they need to effectivelty keep it.
Some Asset Protection issues address active threats, like lawsuits, others address more passive and predictable issues like income and estate taxes. This article provides a simple summary of taxation issues that professional athletes, their managers and legal and financial advisors should be aware of. Remember there are two tax codes, one for the informed and well advised, and one for everyone else who chooses to pay the maximum. Choose to pay less and keep more.
Income tax deductions no professional athlete should overlook: