MLB Draft Disability Insurance Overview

MLB Draft Disability Insurance Overview

Insurance Programs to Protect Future Earnings Do amateur athletes have disability insurance options to protect their potential future earnings as a professional athlete?  What if the player suffers an injury/illness that is not career ending but significantly...
Understanding Your MLB Signing Bonus Paystub

Understanding Your MLB Signing Bonus Paystub

Congratulations on receiving your first signing bonus payment. But, I’m guessing you are wondering if the team withheld too much tax or not enough. To make matters worse, what the team withholds is most likely different than what you will actually owe.  Understanding...
How Your MLB Signing Bonus Is Taxed

How Your MLB Signing Bonus Is Taxed

For the majority of you, your signing bonus will be your first exposure to a significant amount of money. It will also be your introduction to paying a significant amount of tax. Your signing bonus presents unique planning opportunities that are often missed in the...
Who Is Qualified To Be An Athlete’s Financial Advisor

Who Is Qualified To Be An Athlete’s Financial Advisor

Former Catcher For Red Sox Wins Case Against Merrill Lynch Adviser Five-time MLB all-star sues UBS, ex-rep for $7.6M NFL players hit Wells Fargo, Morgan Stanley with $1.8M arbitration claims: The problem you face as a professional athlete is not the lack of people...
Professional Athlete Taxation: Establishing Residency

Professional Athlete Taxation: Establishing Residency

State Residency is one of the hottest topics amongst professional athletes. It is also one of the most misunderstood. The days of simply using someone else’s address and getting a new driver’s license as a way to “claim” residency are over. States have become more...
Before You Take Advice Do Your Homework

Before You Take Advice Do Your Homework

The two fatal mistakes athletes make are hiring the wrong advisors and trusting them far too much. Earlier this week 60 Minutes aired “Thrown for a Loss”  which shared the sad story of how several of the NFL’s biggest stars lost a total of $43 million in a risky...