What is it about rich athletes and taxes? Can’t these guys afford to hire good financial planners and tax advisers?
Prince Fielder, first baseman for the Milwaukee Brewers and son of another renowned long-ball hitter Cecil Fielder, allegedly owes the IRS $409,149 in federal income taxes.
According to the Detroit News’
The lien, which shows Fielder’s primary residence in Melbourne, Fla., lists the owed income as being earned in 2003. That’s the year after the younger Fielder signed his first Major League Baseball contract and received a
The Brewers were in Toronto playing the Blue Jays when the tax lien news surfaced. The CBC reports that Fielder declined to comment on the matter.
The team is taking a similar tight-lipped approach. with Brewers general manager Doug Melvin also not talking and manager Ned Yost saying only, "That’s nobody’s business but his. That has nothing to do with baseball."
Fielder had 50 home runs last season, leading the National League in
that category. He also drove in 119 runs. In light of those numbers,
Fielder tried to negotiate a long-term deal with Milwaukee, but the two
sides failed to reach an agreement.
Fielder is now playing under a
one-year deal worth $670,000. He will be eligible for salary
arbitration next year.
For his sake, I hope the young man gets a new financial team to help out with that new deal and its associated tax responsibilities.
Jan Dillaha
Their salaries are a reflection of their intense focus on what they do well. My experience is that there is always some idiot in the wings telling them they can save money some way that you and I know will land them in trouble.
Having been on the front line of that sort of a conversation, it is nearly impossible for these people to know who to believe. The idea of saving money on taxes appeals to all of us.