Taxation of Professional Athletes

There is very little doubt that the current income tax laws are not applied with equal fairness to people of all occupations. There are many groups whom Congress has seen fit to give many tax advantages, both directly and indirectly. Others assert, and rightly so, that they must pay too much of the tax burden. Professional athletes have probably often wondered just which category best fitted them. This article is for the purpose of pointing out some of the unique problems of the play for pay boys. I have grouped those problems into three topics, which I call, Deferred Compensation , Taxable Income , and Deductions