The “Athlete Tax” Explained: Why Playing One Week in California Can Cost $250,000

Описание: In this episode of the Retire and Thrive Podcast, Dan Langworthy sits down with Fortress advisor Cody Schaefer to break down the hidden taxes athletes pay when they travel for games and events, and what it means for everyday tax planning. With the Big Game and the Olympics top of mind, we unpack how state income taxes, athlete travel days, and bonus payouts can create massive tax bills, even for millionaires.

You’ll learn:

Why pro athletes can owe state taxes in multiple states just for working on the road
How a short trip to California can trigger a major tax hit
How NIL deals are taxed for college athletes and what young earners should do first
Do Olympians pay taxes on medals and bonuses - endorsements vs prize payments
The real-world tax risks and benefits behind Shohei Ohtani’s $700M contract deferral
Why PGA golfers may get taxed in more places than almost any other athletes
The big takeaway - why tax strategy matters as much as how much you earn

Drop a comment - what’s the biggest “hidden tax” you’ve heard of?

#taxplanning #incometax #statetaxes

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