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View Diary: Multimillionaire golfer Phil Mickelson sorry for lamenting his mere eight-figure disposable income (199 comments)

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  •  Licensing rights are low tax, doofus! (1+ / 0-)
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    a2nite

    I have to be the entrepreneur in the bunch so here goes.

    Michelson makes a pile of money as earned income as a golfer.

    But if his management company is as smart as he is a golfer (I'm pretty certain the two are closely correlated) Michelson is getting very nice licensing fees for use of his name and image. These will be structured as long term capital gains, or better yet, unrealized capital gains in the form of stock options in the companies he endorses.

    Options would only be priced at their face value (a fraction of the market price) until he exercises the options into acquiring the stock. At that point there is a taxable event and if he is wise he will sell shares to pay his taxes.

    In exchange for saving him $15 million a year in taxes Phil should bend over and kiss the behind of his top 2 accounting firms's lead tax expert, then head out to the putting green to practice.

    •  And thank my kid for defending his butt (2+ / 0-)
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      UnionMade, a2nite

      My son is in the US military. I want Phil to know that his tax dollars are paying for my son to protect his butt - in the abstract, of course.

      I can appreciate Phil doesn't want to pay taxes - it's a natural human reaction. But he should at least recognize the benefits he receives.

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