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Why Pro Athlete’s Might Lose Big Bucks Under New IRS Tax Law
She Man
lop guest
User ID: 453356
12-06-2018 05:49 PM

 



Post: #1
beermug Why Pro Athlete’s Might Lose Big Bucks Under New IRS Tax Law
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CPAs who work with athletes say they can no longer get full deductions for state and local taxes — or for itemizing.

Because of changes to the tax law that went into effect this year, professional athletes might need to put their CPAs on speed dial.

That’s because players in sports leagues like the NBA, NFL, MLB, WNBA and NHL have traditionally been able to deduct tens or hundreds of thousands of dollars for things that they no longer can.

“One of my players makes $2 million a year, and it will cost him $80,000 more now because he can’t deduct state taxes, agent fees, workout clothes, meals and entertainment, and his cellphone,” says Steven Goldstein, a CPA with Grassi and Co. in New York who works with over a dozen professional athletes and celebrities.

read more: https://www.marketwatch.com/story/why-pr...2018-12-06
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She Man
lop guest
User ID: 453356
12-06-2018 10:42 PM

 



Post: #2
RE: Why Pro Athlete’s Might Lose Big Bucks Under New IRS Tax Law
Bump
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LoP Guest
lop guest
User ID: 475744
12-06-2018 11:06 PM

 



Post: #3
RE: Why Pro Athlete’s Might Lose Big Bucks Under New IRS Tax Law
GOOD, they make way too much money anyways
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