• The NFL Tax Playbook | NFL Players' Podcast #34

  • Oct 18 2024
  • Length: 13 mins
  • Podcast

The NFL Tax Playbook | NFL Players' Podcast #34

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  • Summary

  • Key Highlights

    • Understanding Income Streams: Jeff Locke breaks down the three main income types for NFL players—W2, 1099 endorsement income, and investment income—and their tax implications.
    • Rookie Tax Mistakes: Sam Acho discusses common missteps in charitable giving and introduces the concept of a donor-advised fund to enhance giving strategies.
    • Avoiding Tax Penalties: Zach Miller shares his personal experience of overpaying taxes and emphasizes the importance of integrated tax and investment strategies.
    • Strategic Tax Planning: Insights into deferring investment income to reduce tax burdens during a player's career.

    Quotes

    • "The rookie mistake that I see from NFL players is they're giving, but not giving well." – Sam Acho
    • "You don't want any more income coming in. You want to defer as much as you can to when you're done playing." – Zach Miller

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