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Question about players and taxes
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09-12-2008, 05:30 AM
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Mifsnavassy
Join Date
Oct 2005
Posts
577
Senior Member
There are so many variations on this. In the States, you have to pay tax in the state where you earn the money and in the state where you have legal residence. In Canada, teams have been exempt from local taxation but individual athletes are not. And on and on and on. Doing an international professional athlete's taxes is an exercise in torture.
To start your head spinning,
read the IRS regulation governing athletes and performers
.
And aside from winnings, there's that little matter of
endorsements
...
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