St. John Fisher College Associate Professor and AFP Consulting President, Alan Pogroszewski has been selected as a poster presenter at the 2015 MIT Sloan Sports Analytics Conference (SSAC). Pogroszewski’s paper entitled MLB Jock Tax Index: Quantifying the Monetary Value in After-Tax Dollars, was selected as one of twenty finalist in the Research Paper Competition and […]
Even though fines are deductible and will lower an athlete’s taxable income, Lynch’s fines by themselves fall under the 2% threshold and won’t provide him any tax benefit. This past week Seattle Seahawk running back, Marshawn Lynch was informed that the NFL wouldn’t fine him for wearing a hat with his “Beast Mode’ logo during […]
Max Scherzer’s new seven year $210 million contract is a good example of how proper tax planning in a negotiation can increase its’ overall net (after tax) value. Much has been made of the resident and non-resident tax liability that professional athletes face in the multiple states and cities in which they preform services. Often […]
On July 1st when Tom Gilbert left the Florida Panthers to sign with the Montreal Canadiens he went from one of the lowest taxed organization in the NHL to the highest. This past summer, 138 NHL free agents changed teams. While each of the player’s salary were registered in gross dollars, teams and players need […]
Over the past few days both Pablo Sandoval and Hanley Ramirez have signed with the Boston Red Sox and left their former California ball clubs and the state’s 13.3% tax rate behind. A closer look at the numbers shows how this signing not only makes sense on the field but also makes dollars and cents […]
LeBron James and Tim Duncan, by playing against each other in this year’s NBA Finals have lowered their ‘jock tax’ burden and if the series goes the full seven games they will lower them even more. States that enforce non-residence income tax – also referred to as a ‘jock tax’ – allocate an athlete’s income […]
Former New York Yankee Robinson Cano’s free-agent signing with the Seattle Mariners this past December illustrates how state tax policies can influence professional athletes in their contract negotiations. While all athletes incur federal tax liability on their earnings, their exposure to state and local taxes will be dictated by the income tax policy for their […]
Peyton Manning eyes a second Super Bowl ring while New Jersey has visions of taxing his salary. This Sunday, fans of the National Football League (NFL) will not be the only ones paying attention to the players in this year’s Super Bowl. Tax authorities from the State of New Jersey will also be keeping a […]
Athletes consider alternatives as California’s latest tax increase is implemented In January, California increased its income tax rate by 2%—to 12.3%—for resident and non-resident individuals earning over $500,000. With California’s Mental Health Service Act imposing an additional 1% on individuals earning over $1,000,000, the state’s 13.3% income tax rate represents the highest of any state […]
Jurisdiction’s income tax policies push athletes and Unions to fight back On February 4, 2007, in the biggest game of their respective lives, former Indianapolis Colt All-Star center Jeff Saturday and Hunter Hillenmeyer, a linebacker with the Chicago Bears, squared off against each other in Super Bowl XLI. Six years later, the two players now […]
January 1, 2012
Be sure to organize your papers. This minimizes the time and expense its takes to prepare your taxes—and frees our advisors to concentrate on lowering your tax burden rather than tracking down data.
Fill out the tax questionnaire carefully and completely and separate your tax forms and receipts into different envelopes.
If you have any questions filling out our questionnaire, call us at