The NFL Tax Playbook | NFL Players' Podcast #34
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In Episode 34 of the AWM NFL podcast, host Riccardo Stewart sits down with Jeff Locke, Zach Miller, and Sam Acho to dive into the complexities of taxes for NFL players. With over 20 years of combined experience on and off the field, they explore effective tax strategies for building multi-generational wealth. This episode offers actionable insights into optimizing tax decisions, ensuring players and their families retain more of what they've earned.
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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