Many professional athletes achieve fame and glory on the playing field. Unfortunately, stories highlighting the unsuccessful transition from playing pro to retired professional is all too common. Practitioners who seek to work with professional athletes and assist them through their financial journey must be highly skilled on many fronts. A keen understanding of federal, international, and multistate tax law is essential. Additionally, advisors must maintain an active presence and become a mentor for the privileged few who experience lightning fast transformations of fame and wealth. This course tackles some of these critically important topics.

After completing this course, you will be able to:

• recall recent IRS initiatives and underlying causes behind such actions which impact high income taxpayers including professional athletes
• recall tax impacts realized by professional athletes resulting from passage of the Tax Cuts and Jobs Act
• identify key outcomes resulting from the Supreme Court Case NCAA v. Alston

Tax Year: 2020-2021