Tax implications on pro contract

[itsweigel]

I signed a 2 year $100,000 contract with the professional basketball team. They’re located in West Palm Beach, Florida. We play all of our games overseas. How do I figure out my AGI before the season starts? Also, if I get incentives do I add it to the money ill be getting for the year?

[ColeenD3]

You can do a mock return now and add your information. When you are done, you can abandon the return.

There are different types of benefits but the link below address many of them. Some may just be added to your W-2.

Are Fringe Benefits Taxable?

Any fringe benefit you provide is taxable and must be included in the recipient's pay unless the law specifically excludes it. Section 2 discusses the exclusions that apply to certain fringe benefits. Any benefit not excluded under the rules discussed in section 2 is taxable.

Fringe benefits