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...
Tax Planning For 1st Year Draft Players

Tax Planning For 1st Year Draft Players

As a professional athlete, there are several planning strategies you can take advantage of that can potentially save you thousands of dollars, which is why it’s important to find a qualified Certified Public Accountant (CPA®) who specializes in working with athletes....

MLB Off-Season Tax Planning

The most common financial mistake we see Major League players make is not taking advantage of all the tax savings strategies available to them. This results in a player paying more taxes than necessary and missing out on years of future growth of the tax savings...
Negotiating Your Signing Bonus Payment Structure

Negotiating Your Signing Bonus Payment Structure

Are you familiar with how a signing bonus is paid out? Historically, teams have split the gross amount into two equal payments over two years.  It is a common misperception that the 50/50 payment structure is the only option. Not only is this false, for the majority...
How To Increase Your Next Paycheck

How To Increase Your Next Paycheck

April 30th marked the first full paycheck players received. Were you surprised by the amount you received? Do you feel like your team is withholding too much in taxes? When you have too much money withheld from your paychecks, you end up giving the government an...

Professional Athlete Retirement Options

You may not think that athletes earning millions of dollars would have to worry about outliving their retirement savings. But the reality is that a professional athlete’s retirement could last 30 years or more, so the savings needed to fund that period is far greater...