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Introduction When taxpayers from Minneapolis and the state of Minnesota contributed $498 million of the $1.027 Billion to build US Bank Stadium, they envisioned days like Sunday, when the stadium will be the location of Super Bowl LII (52).  However, the 66,665 fans in attendance and a worldwide television audience will not be the only […]

Now that the House and Senate’s Tax Bill has been signed into law, its time to take a closer look at what the numbers reveal for professional athletes. Introduction The most obvious change with the new tax law for professional athletes is the lowering of tax rates for all income levels.  Though everyone will be affected […]

The end of 2017 has seen a flurry of activity as both the House of Representatives and the United States Senate passed tax reform Bills.  Both Bills have been promoted as providing tax relief and simplification to individuals, small business and corporations. The House of Representative’s Bill entitled The Tax Cuts and Jobs Act was […]

Last Thursday, the Houston Astros clinched their first ever World Series and they were aided by a deadline deal in which they acquired Justin Verlander from the Detroit Tigers. Both the Astros and Verlander were rewarded with a World Series championship, however Verlander also received a potentially unforeseen monetary reward for his efforts. By finishing the season […]

Introduction This year’s NHL Draft will be held in Chicago at the United Center with Nico Hischier, Nolan Patrick and Gabriel Vilardi vying for the honor to be selected first overall.  Although there may be no way to measure the value in being selected first overall, the consolation prize for not being selected first or […]

By signing with the Golden State Warriors a team based in California, we examine the true cost of Kevin Durant’s decision to chase an NBA Championship Introduction Kevin Durant’s decision to leave Oklahoma City to sign with the Golden State Warriors last summer was partially justified by the Warriors advancing to the NBA finals this […]

What type of advantage does the NHL expansion team in Vegas have in signing free agents in the open market?   Introduction Earlier this month, the Vegas Golden Knights outbid several NHL teams in signing Russian forward Vadim Shipachyov to a two-year $9 million contract.  Vegas General Manager George McPhee noted that with no state income […]

With a rash of suspensions and fines among NHL players this past month, we explore the tax consequences of these two forms of punishments Over the past month, the NHL has taken several disciplinary actions against its players resulting in both suspensions and fines.  In late January, Boston Bruins Forward Brad Marchand was fined $10,000 for […]

Even though Tom Brady lowers his non-resident tax by over $20,000 by playing in this year’s Super Bowl in Texas, his home state of Massachusetts will make him pay, win or lose Although all income is subject to federal tax, where the bonuses from this year’s NFL playoffs and Super Bowl becomes interesting, is at […]

Whether you are a seasoned veteran or a rookie navigating tax season for the first time, it can prove to be an extremely stressful time of year for all professional athletes.  In addition to facing the same tax requirements as others, professional athletes have several additional layers of complexity. First, filing requirements can be confusing […]