Athletes and Taxes, Part I: A Discussion with Tax Expert Robert Raiola

All of us have to pay taxes. Elite professional athletes are no exception, but the taxes they pay are high and the rate at which they are calculated can be quite complex. Robert Raiola, director of the Sports and Entertainment Group at PKF O’Connor Davies, which provides business management, tax planning, and business consulting services to high-net-worth individuals, has worked with over 100 professional athlete clients. In this podcast episode, he chats with Professor Mark Conrad about the ways in which high-earning athletes need to educate themselves in order to ensure they are paying the right amount of taxes. From fluctuating tax rates among the different states and countries to varying amounts of endorsement revenues and championship bonuses, professional athletes need to understand the tax minefields so they can pay the correct amount of tax and attempt to minimize their tax liability. Tune in to hear this fascinating discussion. Host: Mark Conrad Producer: Victoria Ilano Additional Production: Jeffrey Haynes Artwork: Pamela V. White Marketing: Michelle Miller Music: ”MarcusWay/Energetic Pop Punk/Tribe of Noise”