Professional Golfers have one of the most unique tax situations of all individuals. We tend to see the same mistakes made over and over when we review new clients previous tax returns. It typically comes down to a lack of knowledge and expertise in how to work with athletes. Your team should be doing everything possible to keep as much money under your control now and minimize your tax liability over the long haul as well.

In this episode we will discuss the three most common Mistakes that we see when it comes to taxes. There are different strategies that professional golfers should be utilizing in high tax years and low tax years, and there are some foundational planning items that should be in place year-round. Why pay more in taxes than you have to?!

Episode Highlights

• (1:10) The two things we see wrong with quarterly estimated taxes
• (3:49) Why your tax planning should be a 365 day per year endeavor
• (4:30) Not taking advantage of retirement plan contributions
• (5:13) SEP IRA vs individual 401k
• (8:37) Actions in a low tax year
• (10:31) Mistakes with residency days

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