March 5, 2019
Plan for the Future with a Structured Celebrity Endorsement
Those in the sports and entertainment industry are hard workers. They have to be. Success does not come easy in such a fast-paced industry, and when one does achieve fame, there is not always a wide window to capitalize on it. During these periods of boom and bounty, celebrities and athletes should take the time to plan for the future. The Internal Revenue Code can help in this endeavor. Entertainers who receive substantial endorsements may be able to defer their endorsement income into future tax years. Not only does this provide them with a steady stream of income for years to come, but it helps keep tax rates low both now and into the future. This option in the IRS tax code is often called a “structured celebrity endorsement.”
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