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Taxation Issues for Athletes

Taxation Issues for Athletes. Thompson Henderson Law Partners. Indirect Taxes. Definition Tax imposed on all performance rights Tax on athletic property Examples Personal property tax Sales tax on commission income Value-added tax on half-time entertainment. Direct Taxes. Definition

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Taxation Issues for Athletes

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  1. Taxation Issues for Athletes

    Thompson Henderson Law Partners
  2. Indirect Taxes Definition Tax imposed on all performance rights Tax on athletic property Examples Personal property tax Sales tax on commission income Value-added tax on half-time entertainment
  3. Direct Taxes Definition Levied directly on athletes Examples Performance income tax Athletic property tax
  4. Athlete Tax Definition Income tax imposed on visitors who earn money in other cities or states Targeted are wealthy, high-profile professional athletes Examples Tax on earned income per state/venue Tax on paid public appearances Deductions for charity appearances
  5. Accounting & Tax Services for Athletes Tax Compliance & Planning Financial Management Services Bill-Paying and Budgeting Services Business Management Services Real Estate Accounting Retirement Preparation
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