Many of us have enjoyed the recent Paris Olympics. You’ll probably notice that each event is comprised of either a team or an individual sport.
What you may not know is that professional athletes who compete in individual sports (e.g., boxers, mixed martial arts fighters, golfers, tennis players) face a far different tax protocol than team-based athletes such as professional baseball, football, basketball or hockey players. These solo athletes are usually categorized as self-employed because they are playing only for themselves and not playing for a team.
