Loyal listeners to CPA Huddle know that The Huddle Guys are passionate about taxes. They love what their work and servicing their clients. In this episode, Eric and Ignatius are fired up about a recent article highlighting the tax rate disparities that continue to favor the super-duper wealthy. The article cites that the tax rate for Steve Ballmer (owner of the Los Angeles Clippers NBA Team) is approximately 1/3 of the rate of LeBron James (Los Angeles Lakers superstar player who makes significantly by comparison), and is even less than someone who makes approximately $45,000. How is this possible? The answer is not simple, and one that you can ponder for years. Your focus should be on working with a CPA who provides the best advice based on your financial reality, guiding you to take advantage of all deductions and credits that apply to you and your business. The Huddle Guys also remind us about the long game...the importance of saving for retirement, starting now! This episode will have you asking, how are you building and protecting your wealth?
It’s time to huddle up!
Reference Article: https://www.propublica.org/article/the-billionaire-playbook-how-sports-owners-use-their-teams-to-avoid-millions-in-taxes