Whether your career takes you to Lords, Augusta, Wimbledon, Old Trafford, or down the red carpet a number of the issues are similar.
Some of these are: how many years can you continue in your profession; how much can you earn, and more importantly – save – before retirement; how much money do you require post retirement to maintain the lifestyle you have become accustomed to; and what will be the tax impact given the location you choose to live past retirement.
When planning for athletes, actors, authors, and models our focus is to ensure a sustainable and long term cash flow management plan is achieved.
Some of the important issue will be where you will be considered resident for tax purposes, how will withholding taxes apply to your earnings, how can you capitalise on your image rights, how can you keep your tax compliance simple, who can you depend on for impartial advice?
As one of the leading accounting firms in Melbourne, Nobel Thomas accountants understand the global athlete and entertainer. When assisting highly mobile athletes, and entertainers, we use our knowledge of the law to deliver certainty and peace mind.
When it comes to taxation, you want to be able to depend on an accounting firm that understand the unique demands, opptunities and challenges in this line of profession. Contact us today for a free initial consultation.