3 Tax Planning Tips That Entertainers Need to Practice
While bringing your art to your audiences is a challenge itself, sustaining yourself and dealing with the finances is a different animal. There are many complexities in managing your taxes, especially as someone with numerous income sources. Luckily, working with accounting services that specialize in handling entertainers’ taxes will help you stay on track. Here’s what you need to know.
What Athletes Should Know About Tax Cuts & Financial Snaps
It is understandable to have your mind feel like it’s going a thousand miles per hour while you go over what you’re going to do with the large sum of money that you’ll get. As understandable as it may be to feel excited over your newly-minted position, there’s one fact that you’ll need to acknowledge: You should be ready to lose a chunk of money to taxes.
Money Management Problems Athletes Face During COVID-19
While we all tend to treat professional athletes like gods and goddesses, the truth of the matter is that they are all just human like us. This means they face the same daily challenges that many of us face. In fact, some of them may face even more than we do. That said, money management is a problem we all have to face one way or the other, and it has gotten more challenging due to the ongoing pandemic. If you are an athlete currently facing money management issues, here are some ways to help you cope.
Is It a Good Idea to Outsource CFO Services
Your small business is on the hunt for a Chief Financial Officer, but you’re at a crossroads between selecting an in-house candidate or daring to outsource a professional. A vital component of your business’ financial stability is collaborating with an expert who knows numbers—and how to project them.
Managing Athlete Finances: Tax Implications for Olympic Medalists
Different lines of work come with different types of earnings and tax implications. Some people might wonder how artists or athletes handle their taxes, given their source of income and the nature of their work. The best of the best can earn significant sums when competing—and these earnings are subject to some form of taxation! If you’re an athlete who has already earned from competing or training to compete in the big leagues, then considering athlete financial management may be the best course of action for you.
3 Financial Mistakes That Can Ruin Your Athletic Career
Athletes need to realize that they can experience financial hardships, just like any occupation. Although you may be at your peak now, that doesn't mean that you won't lose your thunder as you get older. This is why athletes must have a long-term financial plan.
How to Grow and Protect Your Wealth: A Guide for Athletes
While many athletes earn high salaries, their careers are often short-lived. Their paycheck highly depends on the sports they play, their performance, their contract terms, and the injuries that can affect their careers. Because of this, they need to seek athlete financial planning to save for their retirement and attain financial stability, especially when their money will not always roll in steadily.
Athlete Financial Management 101: Dealing With International Taxation
While taxation is difficult, athlete financial management is a must, as ignorance of the law is never an excuse. Once you become an international athlete, you are subject to a different set of rules and regulations ...
3 Accounting Concepts That Professional Athletes Should Know
As an athlete, one of the toughest challenges you’ll ever face throughout your career is getting a grip on your finances and doing all you can to keep everything in line.
3 Reasons Baseball Athletes Should Hire a CFO Tax Advisor
Taxes are a headache for everyone, athlete or not. If you have not considered working with a CFO advisory yet, do so right away. Many baseball athletes ...
Claiming Expenses for Part-Timers– What Actors Must Know
This year has been very different for actors worldwide. Financial advisors for the entertainment industry would advise you to broaden your horizons and consider other jobs at the moment.
3 Mistakes Athletes Make With Their Financial Advisors
On average, professional athletes who manage to land big-figure contracts from teams looking to source their talent face the challenge of handling a large sum of money at a young age.