It's easy to see IRS Form 1099 as representing a big liability since it reports income that hasn't already been taxed in the form of withholding.
Choosing a proper domicile.Does the team’shome state have tax advantagesfor high-income earners? If not, residing in a no-tax state like Florida, Texas, or Tennessee can mean significant tax savings. Mitigating the jock tax.This involves projecting the tax impact of playing in vario...