| Professional athletes are some of the highest earners | | | | charitable donation plans, state tax residency tactics, |
| in the world so it is pertinent that they employee | | | | and compound state income tax minimization policies. |
| financial advice, help, and guidance from highly trained, | | | | They are also able to utilize services such as |
| trusted, and experienced financial professionals. The | | | | mortgage interest abstraction approaches, athlete |
| financial professionals that are able to take on the job | | | | exclusive payment plans, Internal Revenue Service |
| of handling the unique needs of these athletic | | | | problem resolution, and individual toll free phone |
| professionals are CPA firms that specialize in tax and | | | | numbers for direct sessions with a CPA, all-inclusive |
| financial planning needs of pro athletes specifically. | | | | individual financial retirement planning, and registered |
| The pro athletes that these CPA firms work with can | | | | player financial advisors with players associations from |
| come from a variety of different professional sports | | | | specific professional leagues, such as the NFL.. |
| leagues. Clients could be from the NBA, MLBA, NFL, | | | | To be able to receive services, such as the ones |
| PGA, NHL, and any other sort of league that has pro | | | | mentioned previously, and to receive such individualized |
| sports figures. The partners in the CPA firms will work | | | | attention professional competitor have to make sure |
| with the client to generate customized financial plans | | | | that they are using a trusted firm. A CPA firm that |
| that can help to provide for the future of the athlete | | | | deals with professional sports figures should be versed |
| and their family. They will also help the client complete | | | | in specialized tax issues, financial planning, international |
| monthly accounting compilations and form tax | | | | tax law, and business planning. Each advisor should |
| minimization approaches. Many athletes will also have | | | | always have the best interest of the player in mind, |
| to file numerous income returns for the many different | | | | taking into consideration what the clients concerns and |
| states in which they play and compete. CPA's who | | | | interests are all while doing what is best for that |
| understand the specialized issues involved with this will | | | | particular client and their situation. It may be necessary |
| be able to help the players correctly file all of these | | | | for the CPA to help the sports figure plan for a |
| forms. | | | | retirement so that they are still able to live the lifestyle |
| There are great deals of services that Certified Public | | | | that they have grown accustomed to once they are |
| Accountants can offer their specialized athlete clients. | | | | off of the field or court or they could have to help the |
| Some of the services that may be offered by a CPA | | | | client recover thousands or millions of dollars in |
| firm handling pro athletes would be tax proficient | | | | overpaid taxes, but whatever the financial situation |
| investment plans, international tax minimization | | | | may be the CPA will do what is best for their |
| approaches, duty day strategies, bill pay services, | | | | professional athlete client. |