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 […]
Blog Posts Tagged with "athlete tax"
Regardless of where Kirk Cousins signs this off season, it provides an example, once again on how the ‘jock tax’ can affect the net (take home) value of a contract. With Kirk Cousins set to become the first high profile quarterback to test the free agent market since Peyton Manning in 2012, his sights are likely set on […]
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 […]
Tax Index The Jock Tax Index (JTI), presented at the 2015 MIT’s Sloan Sports Analytics Conference and featured on Bloomberg Television’s Market Crashers, is a proprietary tool which allows both teams and player representatives involved in contract negotiations to compare the true value of any potential contract proposal to the same monetary offering from every […]
Former Indianapolis Colts lineman Jeff Saturday’s case against the City of Cleveland proves a cautionary tale to jurisdictions that reach beyond their constitutional rights. INTRODUCTION The United States Supreme Court’s decision to not hear Jeff Saturday’s case against the City of Cleveland is a significant victory for all professional athletes. Professional athletes face complicated tax […]
For DeAndre Jordan and LaMarcus Aldridge returning home to Texas could provide substantial tax savings DeAndre Jordan and LaMarcus Aldridge both grew up in the Texas, played their college basketball in the state and over the past week they have contemplated returning home. With Aldridge choosing to sign with the San Antonio Spurs over the […]
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 […]
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 […]
January 1, 2012
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