How to Make Career-Long Money Moves For A Rewarding Retirement
Keeping finances in order and staying compliant can be challenging for professional athletes. Contracts and compensation may change rapidly and living expenses can be fluid as well – not to mention how all of these changes affect their overall tax burden. Professional athletes need a trusted and experienced accountant in their corner to help them keep their financial house in order. We have compiled a list of the top ten accounting tasks that those working in pro sports should have executed on a regular basis either for themselves or as an agent acting on behalf of a client. All of these services not only help secure and sustain wealth but also assist athletes with tax compliance needs that are often complex and ever-changing.
The Financial Services Athletes Need Most
- Proactive tax planning
- Asset protection planning
- SALT planning and compliance
- Bill pay
- Purchase guidance – like real estate purchases and business investments
- IRS and state examination assistance
- Cash management
- Contract analysis
- Review of endorsement agreements and merchandising agreements
Here To Help You Make The Best Decisions Moving Forward
While these are the services we want to be sure pro athletes don’t overlook, these are just some of the ways we can be of help. Review all of our pro athlete accounting services here and stay on the page to meet Justin Linscott – our in-house NFLPA Registered Player Advisor and the principal here at H&M that leads this service area. Reach out to him today to review the services that will best fit your individual needs and equip you with everything you need for a rewarding career and an even great retirement!