As high-net worth individuals, celebrity athletes often find themselves in the crosshairs of the IRS. Even when they are not targeted, they often make mistakes that can run them afoul of tax authorities.
We may not be able to run faster, or jump higher just by watching the pros on the playing field, but we can learn a lot from their run-ins with the tax court!
How to avoid some of the taxing concerns of celebrity athletes, and some strategies for not falling into the same pitfalls, are discussed in the latest edition of Worth Magazine.
The article, by MBAF’s wealth advisors entitled, What can celebrity athletes who have experienced run-ins with tax authorities show us? is a must read for any high net worth individual, celebrity athlete or not!
For more than 20 years, Worth Magazine has been a trusted source for information relevant to the financial, legal and lifestyle issues unique to high net worth individuals. MBAF is proud to contribute to this valuable resource.
Taxation and compliance issues for high net worth individuals can be quite complex. If you would like to benefit from our expertise in these areas, or if you have further questions on this Advisory, do not hesitate to contact our Private Client Wealth specialists, or call us at 1-800-239-1474.