Fox News enlisted the help of ProSport CPA’s founder, Dr. John Karaffa, in a highly-circulated article about California’s income tax rates. The article, Millionaire Athletes Flee States With High Income Taxes by Joshua Rhett Miller, analyzed Phil Mickelson’s recent comments about California’s newly-enacted tax increase on millionaires.
In the article, Dr. Karaffa commented about California being “already a very high tax state and it’s getting to a point where folks have to make a business decision as well as a lifestyle decision.” The Mickelson case helps to bring state taxation issues to the forefront as hot topic for professional athletes. Since taxes are a professional athlete’s largest expense, it is even more important than ever that professional athletes seek out quality, professional Certified Public Accountants to assist them fulfill their tax obligations.
Fox News is the most-watched news channel in the United States with a distribution of over 90 million subscribers.
For more information or to speak with a financial professional, knowledgeable about taxes for professional athletes, please contact Dr. Karaffa at (804) 363-9684 or visit us at www.prosportcpa.com.