Ever wondered how the IRS views income from illegal activities? Believe it or not, the IRS doesn’t care if your business is legal or not—they still expect their cut. And in some cases, even expenses tied to illegal activities can qualify for deductions! While you (hopefully) run a legitimate business, this story will give you a fascinating glimpse into how bizarre tax laws can get—and how you could be leaving money on the table without knowing it.

The IRS has built a complex tax system, and for savvy business owners, that complexity can work in your favor. Even though you won't need to deduct criminal defense fees like some people in these wild cases, there are hundreds of legal deductions you're probably not taking advantage of. This is where experts like Anvil Tax come in—we uncover every possible tax-saving strategy for you.

The Law That Makes It All Happen: IRS Code Section 61

The cornerstone of the U.S. tax system is Internal Revenue Code Section 61, which declares: “Gross income means all income from whatever source derived.” It doesn’t matter whether it’s a paycheck, a side hustle, or even profits from something illegal—if you earn it, it’s taxable. The section lists 14 specific sources of income, including “gross income derived from business.”

But here's where things get tricky—taxing gross income before deducting expenses wouldn’t be fair. That's where Section 162 kicks in, allowing businesses to deduct “all the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business.” So, legal or not, businesses have the right to claim expenses, within certain limits.

What Happens When Your Business Crosses Legal Lines?

Now, let’s talk about the gray areas—what happens if your “business” isn’t exactly legitimate? Are the profits still taxable? Are the expenses still deductible? Surprisingly, the IRS and courts have spent years deciding the answers. (Hint: Al Capone, the notorious mobster, found out the hard way. He was sent to Alcatraz for tax evasion, even though he ran an empire of illegal enterprises. Fun fact: he played banjo in the prison band, the Rock Islanders!)

But it gets crazier. Even if your business dealings are shady, you might still be able to deduct certain expenses. Let’s explore a modern example that will blow your mind.

The Shocking Case of Jonathon Chang: Church Donations Gone Wrong

This week’s story brings us to Saratoga, California, where Jonathon Chang served as an elder at the Home of Christ 4 Church. His role included managing church donations, but rather than fulfilling his duties, Chang used his position to siphon money into his own accounts. A generous donor gifted the church $6.75 million to build a new facility and support missionary work, but instead of fulfilling the donor’s wishes, Chang pocketed $6.7 million.

If you think that’s bad, it gets worse. Chang set up a nonprofit organization and a for-profit LLC, presumably to manage real estate. But once the cash hit his accounts, he decided to redirect it for personal gain.

Much like a plot out of a crime thriller, Chang soon found himself in legal trouble. Facing charges of wire fraud, money laundering, and conspiracy, Chang turned to a legal defense team, racking up $365,735 in legal fees. And here’s where the IRS story takes a wild twist: Chang tried to deduct those legal fees on his tax return!

Can You Really Deduct Legal Fees for Criminal Activity?

Yes, you read that right. Jonathon Chang claimed his legal fees as a business expense, deducting them on his Schedule C. And although the IRS initially denied his deduction, he took his case to Tax Court. Here’s what happened: the judge ruled that legal fees can be deductible, even in criminal cases, as long as they are considered “ordinary and necessary” for the business.

Judge Peter Panuthos ruled that because Chang’s legal fees were tied to his business, they qualified as an ordinary expense. In short, public policy doesn’t automatically bar criminals from deducting legal fees—but only if those fees are related to a business activity.

Though Chang managed to keep his deduction, it was little comfort. He had already served prison time, forfeited five rental properties worth over $8.8 million, and still owed over $11.7 million in restitution. At 68, his golden years look far from bright.

What’s the Lesson Here for You?

While you're (hopefully) not trying to deduct legal fees for illegal activities, the takeaway is this: the tax code is filled with deductions and nuances that can save you money—if you know how to find them. Whether it’s related to business expenses, real estate ventures, or maximizing personal deductions, these rules can be complex, but they can work in your favor.

How Anvil Tax Can Help You Maximize Your Deductions

At Anvil Tax, we specialize in uncovering every possible deduction to ensure you never pay more than you owe. Whether you’re a realtor, a small business owner, or just need expert tax advice, our deep understanding of the tax code allows us to craft strategies that save you money and protect your wealth.

The IRS may not care where your income comes from, but they’ll certainly take their share. It’s your job to make sure you’re only paying what’s necessary. We offer Portland tax consulting, real estate tax strategies, and Oregon tax planning services designed to maximize your deductions and minimize your tax liabilities. We focus on the details so you can focus on growing your business.

Ready to Take Control of Your Taxes?

The football season kicked off with a bang as the Kansas City Chiefs, last year’s Super Bowl champions, secured a strong win. But that wasn't all the buzz—Taylor Swift, who’s dating Chiefs star Travis Kelce, was expected to attend many of their games, drawing even more attention. With Swifties across the country tuning in to see their favorite pop star, this football season has been lively from the start!

While fans focused on the field and celebrity appearances, players dealt with another kind of challenge off the field—tax planning. NFL players collectively earn around $8.2 billion a year, with top earners like Cincinnati Bengals quarterback Joe Burrow bringing in $55 million annually. But taxes can take a huge chunk of that income, up to 40%, making smart money decisions and tax planning crucial. Just like athletes, everyday earners and business owners in Portland face tax challenges, and Portland tax planning can help keep more of your income.

This year, rookie quarterback Caleb Williams, the first overall pick by the Chicago Bears, attempted to use innovative tax reduction strategies. With a four-year, $40 million contract, Williams wanted to be paid through an LLC as an independent contractor instead of an employee, which could have helped him save on taxes.

Williams’ plan could have brought significant tax reduction. By setting up an LLC taxed as an S corporation, he could have avoided nearly $1.5 million in Medicare taxes by converting some of his salary into K-1 distributions. This setup would have allowed him to deduct expenses like agent fees and union dues—expenses regular employees can no longer deduct under current tax laws. Additionally, it would have allowed him to create more favorable retirement and health plans.

Williams also explored another creative option—getting paid through a forgivable loan. This would have allowed him to defer paying taxes until the loan was forgiven, providing more flexibility in his tax strategy.

However, the NFL shut down both proposals, citing the current collective bargaining agreement. While the league is open to innovation on the field, they’re less flexible about changing tax arrangements for individual players.

Even with these hurdles, Williams still has plenty of opportunities for smart money strategies. He earned $10 million from name, image, and likeness deals and signed endorsements with big brands like Dr. Pepper and Nissan. Plus, he launched his own investment firm, 888 Midas, focusing on private equity, venture capital, and real estate—all areas where tax planning plays a huge role.

The takeaway here? Whether you're a professional athlete or a Portland resident looking for tax reduction strategies, how you structure your income can significantly impact your tax bill. With effective Portland tax planning, you can keep more of your hard-earned money. Daveed Tuck, Ex-IRS Auditor and Portland Tax Consultant, can guide you through these strategies to help you maximize your savings and plan for your financial future.

Ready to tackle your taxes and create a winning plan? Schedule a Right Fit Call https://www.anviltax.com/#BookaRight-FitCall with Daveed Tuck today to see how we can help you plan for your financial future: Schedule a Call. Let’s see if our tax strategies are the right fit for you!

And don’t worry, we won’t schedule your consultation during a Chiefs game!

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When you think of accountants, it’s easy to picture someone hunched over a spreadsheet, laser-focused on numbers. The stereotype says accountants are boring, penny-pinching men or women buried in paperwork, living life on the dull side. But, what if I told you that accountants are the real rock stars, just as dynamic and fascinating as anyone in showbiz or sports?

Still not convinced? Let’s look at Mick Jagger, who studied accounting at the London School of Economics before becoming the legendary frontman of The Rolling Stones. Or take Bob Newhart, the comedian who started his career as an accountant before his comedic genius took the world by storm. Even saxophonist Kenny G and MMA fighter Chuck Liddell earned accounting degrees before launching into the limelight.

Clearly, accountants can rock out and still know how to balance a budget.

Bringing the Fun into Finance

Accountants today aren’t just crunching numbers; they are shaping the future of businesses, guiding people to financial freedom, and saving clients from tax traps. But they’ve also got a sense of humor! The folks over at (short for The Big Four Accountant) have a range of funny, insightful merchandise like mugs, hats, and t-shirts that poke fun at our profession.

Here’s what some of those clever slogans really say:

• “I’m Billing You for This Conversation” Sweatshirt
  The days of hourly billing are fading, as more accountants charge based on the value they deliver. We know our worth, and we make sure our clients do too. It’s not about how long we worked, but the results we provide.

• “World’s Cutest Tax Credit” Onesie
  Sure, the IRS gives you a $2,000 tax credit for having a child, but the USDA says it costs over $233,000 to raise that same child to age 17. Accountants find humor in the imbalance—because sometimes you just have to laugh.

• “No Crying During Busy Season” Desk Nameplate
  Yes, tax season is stressful. But accountants know how to mix hard work with resilience and humor. We power through those long hours, armed with caffeine, spreadsheets, and a few jokes.

• “Fully Depreciated, Still in Use” Mug
  It might sound like accountants are outdated, but in reality, we’re constantly evolving. The best accountants stay sharp, keep up with the latest tax laws, and help their clients grow year after year.

The Backstage Pass to Financial Freedom

There’s nothing boring about keeping more of what you earn. Proactive tax planning is like having a backstage pass—it gives you the power to take control of your finances and live the life you’ve always dreamed of, whether that’s jetting off on a dream vacation or securing your retirement.

If you’re looking to maximize your tax savings while staying compliant, reach out to Daveed Tuck, ex-IRS auditor and tax consultant, based in Portland. From small business tax planning to real estate ventures and personal taxes, Daveed can streamline your process and boost your bottom line.

Visit to schedule a right-fit call today and see how we can help you rock your finances like a true star.

Meet Bob, a hands-on second-generation contractor from Portland who thought taxes were just a yearly headache—until his business success and growing real estate investments forced him to rethink his financial strategy. With the help of Daveed Tuck, an Ex-IRS auditor and tax consultant, Bob transformed from a construction expert into a savvy tax strategist.

Together with his wife, Sally, Bob managed not only a thriving family business but also the challenge of raising three kids. As his company expanded, so did the complexity of his financial situation. Bob knew he needed a better way to manage the family’s growing wealth, but he didn’t know where to start.

That all changed when Bob met Daveed Tuck, a Portland-based tax expert who specializes in helping family-owned businesses. Daveed introduced Bob to tax-saving strategies he had never considered—strategies that would help him not only protect the family's income but also build generational wealth.

Tax Strategies Bob Never Knew Existed

At their first meeting, Bob laid out his goals: grow the business, reduce taxes, and secure his family's future. Daveed introduced him to several powerful strategies:

1. Hiring His Kids
   Daveed suggested that Bob hire his children through the business, paying them wages that were not subject to payroll taxes since they were under 18. This allowed Bob to reduce his taxable income while also teaching his kids about the family business.

2. Funding Roth IRAs for the Kids
   By paying his children reasonable wages, Bob could contribute directly to Roth IRAs for them. This allowed the kids' earnings to grow tax-free, setting them up for a bright financial future—whether for education or retirement.

3. Permanent Life Insurance
   Daveed also introduced Bob to permanent life insurance as a tax-efficient savings tool. Beyond providing security for the family, the cash value of the policy could be accessed tax-free in case of emergencies, offering both protection and growth potential.

4. Education Savings Plans
   Bob and Sally were concerned about their kids' education costs, so Daveed recommended 529 plans and Coverdell accounts. These tax-free savings vehicles allowed them to save for college, with the flexibility to tap into Roth IRAs or life insurance if needed.

The Bigger Picture: Comprehensive Tax Strategies

With Daveed's guidance, Bob realized that these strategies were just the beginning. Hiring his kids, funding Roth IRAs, and setting up permanent life insurance were the first steps toward a long-term tax plan that would benefit his family for generations.

As Bob continued to explore the opportunities Daveed laid out, he saw how the pieces fit together—strategies to protect and grow the family's wealth while reducing their tax burden.

Secure Your Family’s Financial Future

Like Bob, you too can take control of your financial future with the help of Daveed Tuck. Whether it’s hiring your kids, setting up life insurance, or saving for education, there are countless ways to reduce taxes and build wealth for the long term.

Ready to explore these opportunities? Schedule a right-fit call with Daveed Tuck at Anvil Tax today. Let’s build your financial legacy together.

As the air turns crisp and leaves change color, one thing becomes clear: pumpkin spice season is upon us. From lattes to candles, Oreos to even beard oil, this flavor has become a fall staple. But did you know there’s more to this trend than meets the eye? Yes, I’m talking about the Pumpkin Spice Tax—the unofficial, hidden markup on all things pumpkin spice.

Let’s dive into the spicy details, uncover how ancient taxation compares to today’s modern system, and why you might be paying more for that pumpkin spice latte than you think!

A Look Back: Taxes from Ancient Times to Now

Taxes have been around for millennia. In ancient Egypt, pharaohs levied a 20% tax on grain harvests. Fast forward to Rome, where Julius Caesar introduced the first-ever sales tax, followed by Augustus who introduced income taxes. Today, taxes have gotten a bit more complicated: we have property taxes, payroll taxes, estate taxes, and even sin taxes!

Yet, with all these taxes in play, the U.S. national debt still sits at a staggering $35 trillion. And in Portland, the average family pays about 30% of their income in taxes—federal, state, and local combined.

But taxes don’t stop there. Every fall, there’s another kind of tax Portlanders face: the Pumpkin Spice Tax.

The Hidden Cost of Pumpkin Spice

Since Starbucks introduced the iconic pumpkin spice latte in 2003, the flavor has skyrocketed in popularity, appearing in everything from Pringles to toothpaste. But here’s the kicker: most of these pumpkin spice products don’t even contain pumpkin! They’re just a blend of spices—cinnamon, nutmeg, ginger, and cloves.

So, where does the "tax" come in? A study found that pumpkin spice products are marked up significantly:

• Trader Joe’s charges a whopping 161% more for their pumpkin spice pretzels.
• Starbucks adds an 18.3% markup on their beloved pumpkin spice latte.
• But if you’re a Target shopper, you’re in luck—they charge 3.4% less for their pumpkin spice items!

Pumpkin Spice Trends Are Changing

While Portland remains one of the biggest markets for pumpkin spice, there’s some good news for those who think the trend is overrated. Searches for pumpkin spice lattes have dropped by 29% since 2018. Still, whether you’re a pumpkin spice lover or not, the hidden costs of this fall favorite are something we should all be aware of.

Lower Your Real Taxes with Anvil Tax

While we may not be able to help you avoid the Pumpkin Spice Tax, we can definitely help you save on the taxes that really matter. At Anvil Tax, we specialize in tax strategies for realtors, small business owners, and individuals. Whether you need help with tax planning, IRS audits, or small business tax advice, we’ve got you covered.

Watch the Full Video: The Pumpkin Spice Tax Explained

Want to learn more? Check out our latest video on The Pumpkin Spice Tax, where we take a deeper dive into the history of taxes and how the pumpkin spice trend fits into it all. Click the link below to watch!

Watch the Video: The Pumpkin Spice Tax

At Anvil Tax, our mission is to help you lower the taxes that impact your life, save time, and stay compliant. Schedule a right-fit call today to see how we can work together to build a solid tax strategy for you or your business.

Keywords: Pumpkin spice tax, Portland tax consultant, real estate tax planning, IRS audit help, tax advice Portland, business tax planning.

The economic landscape has seen monumental shifts over the past four decades, largely influenced by policy reforms initiated during the Reagan administration. Known as Reaganomics, these policies fundamentally reshaped the tax environment, giving businesses and individuals opportunities for growth and wealth accumulation. Today, however, we find ourselves at the threshold of new tax changes that will likely influence the next 40 years.

The Legacy of Reaganomics

In 1984, Ronald Reagan's economic policy, famously known as Reaganomics, introduced sweeping tax reforms aimed at reducing government intervention in the market. The guiding principles behind Reaganomics were to reduce taxes, cut government spending, and encourage free-market growth. Among the most impactful changes was the Economic Recovery Tax Act of 1981, which dramatically lowered personal income tax rates, as well as the Tax Reform Act of 1986, which simplified the tax code and reduced corporate tax rates.

These reforms allowed businesses, especially small- and medium-sized enterprises, to keep more of their profits, reinvest in operations, and fuel the economy. For example, many family-owned businesses in Portland, like construction companies and retail chains, took advantage of these tax breaks, expanding their workforce and passing down legacies through generations.

Portland Businesses: Thriving Under Reaganomics

One notable story involves a Portland-based construction company that capitalized on the Reagan-era tax cuts to reinvest in its operations. The company grew significantly in the 1980s, expanding its workforce and increasing profits. Today, this business is a third-generation enterprise that continues to thrive, but it faces a much more complex tax environment in 2024 than it did during the Reagan years.

For businesses like this, what worked under Reaganomics no longer applies today. The current tax landscape is filled with new challenges, and companies must be ready to adapt in order to secure future growth.

2024: Navigating a Complex Tax Landscape

Fast forward to 2024, and the tax environment is far more intricate. While Reaganomics laid the foundation for many of today’s tax regulations, new challenges have emerged, particularly in areas like digital assets, global taxation, and environmental policies. Portland businesses that once benefited from simplified tax systems now have to contend with a myriad of complexities.

Key Challenges in Today’s Tax Environment

1. Digital Assets and Cryptocurrency
   In the 1980s, cryptocurrency wasn't even on the radar. Today, however, it's a significant factor in tax planning. The IRS has begun to heavily regulate digital assets like Bitcoin, and Portland businesses and individuals need to ensure compliance with these rules or risk hefty penalties.

2. Retirement and Health Care Planning
   Tax benefits around 401(k)s, IRAs, and Health Savings Accounts (HSAs) have evolved. Businesses and individuals must now pay close attention to how these accounts are managed to maximize long-term tax savings, particularly for those planning for retirement.

3. Global Taxation for Remote Workers
   With the rise of remote work, global taxation has become more complicated. Whether you're a business owner in Portland or a digital nomad, you now need to navigate international tax laws and minimize liabilities in this area.

4. Environmental Tax Policies
   Green energy investments and carbon emission taxes are becoming more prevalent. Companies that prioritize sustainability can benefit from tax credits, while those with large carbon footprints may face increasing costs due to environmental regulations.

What’s Next? Preparing for the Future

Just as Reaganomics reshaped the tax landscape in the 1980s, the next 40 years will bring more changes. Business owners and individuals must prepare for these shifts to remain competitive and grow their wealth. Here are some areas to watch for in the future:

1. Automation and Tax Filing
   Advances in artificial intelligence and automation are transforming tax compliance. While AI may streamline tax filing, businesses will need to stay updated on these advancements to avoid being left behind.

2. Climate-Driven Tax Policies
   Environmental taxes on carbon emissions are expected to rise. On the flip side, companies that adopt sustainable practices will benefit from tax incentives tied to green energy and sustainability.

3. Wealth Management and Estate Planning
   Estate tax exemptions are expected to decrease after 2025, making it crucial for business owners and high-net-worth individuals to update their estate planning strategies. This is key to protecting wealth and ensuring smooth transitions to the next generation.

How Daveed Tuck Can Help You Navigate Tax Changes

Navigating today’s complex tax environment requires more than relying on past strategies. Daveed Tuck, an Ex-IRS Auditor (License: LTC 31902-C) and tax consultant with over 20 years of experience, has a unique understanding of both past tax policies and how they apply to today’s businesses. With his guidance, you can develop forward-looking strategies to ensure your business thrives amid ever-changing tax laws.

Whether you’re focused on growing your business, planning for retirement, or safeguarding your financial legacy, Daveed can help you navigate the complexities of 2024 and beyond.

Protect Your Wealth and Plan for the Future

The tax system is always changing, and as we look to the next 40 years, businesses and individuals alike need to be proactive in planning for the future. With new regulations on the horizon, now is the time to ensure your tax strategies are optimized for success.

Ready to take control of your tax planning? Schedule a right-fit call with Daveed Tuck at www.AnvilTax.com today and discover how we can help your business stay compliant while saving time and money.

Five thousand years ago in ancient Egypt, before money was even a thing, the Pharaoh’s men were already collecting a 20% tax on grain. Fast forward to Julius Caesar, and he introduces the world’s first sales tax. Not to be outdone, his great-nephew Augustus rolled out the first direct income tax. Can you imagine filling out Form MXL in Roman numerals? Since then, we’ve been hit with just about every kind of tax: property taxes, estate taxes, payroll taxes, excise taxes, carbon taxes—you name it. And yet, here we are in 2024 with a national debt of over $35 trillion.

Here in Portland, the average family is handing over around 30% of their income to federal, state, and local taxes. But it doesn’t stop there. Women are paying the "pink tax" on everything from clothing to personal care products. Many families, especially Black Americans, might even pay a “black tax,” helping out less financially secure family members. And now that fall’s here, let’s not forget about the one tax we all seem to love—the pumpkin spice tax!

Believe it or not, Starbucks first introduced the pumpkin spice latte back in 2003. Yes, the PSL is old enough to vote now, though it’s probably just as tired of politics as the rest of us. Since then, pumpkin spice has become a cultural phenomenon. You can find it in everything from Oreos to toothpaste and even beard oil. And if that’s not enough, Cardi B is selling “whip shots vodka infused pumpkin spice whipped cream.” (I’m still trying to figure out who thought that was a good idea!)

Here’s the kicker: most of these pumpkin spice products don’t even contain real pumpkin. It’s just the spices—cinnamon, nutmeg, ginger, and allspice. They’re tasty, sure, but a little phony. Kind of like some of the taxes you might be paying without realizing it.

Now, about that pumpkin spice tax. A couple of years ago, MagnifyMoney.com looked at prices for 80 different grocery and coffee products across several retailers. They found that Trader Joe’s in Portland was charging 161.1% more for Pumpkin Spice Teeny Tiny Pretzels compared to their regular Honey Wheat Pretzels. And Starbucks in Portland? They were tacking on an 18.3% markup for their PSL. On average, you’re paying about 14.1% extra for anything pumpkin spice. But if you’re a Target shopper in Portland, there’s good news—they actually charge 3.4% less for pumpkin spice products. Go figure!

And if you’re one of those people who’s over the pumpkin spice craze, you’re not alone. Internet searches for “pumpkin spice latte” have dropped 29% since 2018. Here in Oregon and other western states like Washington, Colorado, and Arizona, searches are still relatively high, but they’ve plummeted in places like Vermont, Mississippi, and Maine. Maybe some parts of the country are just ready for something else.

Now, as much fun as it is to joke about the pumpkin spice tax, there’s a more important tax I want you to pay attention to: your actual tax bill. I’m Daveed Tuck, a Portland-based tax consultant and Ex-IRS Auditor, and I’m here to help you avoid paying more than you should. Whether you’re looking to minimize payroll taxes, navigate estate taxes, or just make sense of Portland’s local tax codes, I’m ready to work with you to build a strategy for 2024 that keeps more of your money in your pocket.

If you’re in Portland and want to get ahead of your tax planning, reach out to me today. Whether you’re a small business owner, a retiree, or just need help filing your taxes, let’s start planning for 2024 now so you’re ready when the time comes. I’m here to make sure you don’t miss any opportunities to save on taxes—real taxes, not the pumpkin spice kind.

Find time to chat:
https://www.anviltax.com/#BookaRight-FitCall

The football season kicked off with a bang last night as the Kansas City Chiefs, last year’s Super Bowl champions, started the season with a strong win. But that's not all the buzz—Taylor Swift, who’s dating Chiefs star Travis Kelce, is expected to attend many of their games, drawing even more attention. With Swifties across the country tuning in to see their favorite pop star, this football season is off to a lively start!

While fans are focused on the field and celebrity appearances, players are dealing with another kind of challenge off the field—tax planning. NFL players collectively earn around $8.2 billion a year, with top earners like Cincinnati Bengals quarterback Joe Burrow bringing in $55 million annually. But taxes can take a huge chunk of that income, up to 40%, making smart money decisions and tax planning crucial. Just like athletes, everyday earners and business owners in Portland face tax challenges, and Portland tax planning can help you keep more of your income.

This year, rookie quarterback Caleb Williams, the first overall pick by the Chicago Bears, attempted to use innovative tax reduction strategies. With a four-year, $40 million contract, Williams wanted to be paid through an LLC as an independent contractor instead of an employee, which could have helped him save on taxes.

Williams’ plan could have brought significant tax reduction. By setting up an LLC taxed as an S corporation, he could have avoided nearly $1.5 million in Medicare taxes by converting some of his salary into K-1 distributions. This setup would also allow him to deduct expenses like agent fees and union dues—expenses regular employees can no longer deduct under current tax laws. Additionally, it would have allowed him to create more favorable retirement and health plans.

Williams also explored another creative option—getting paid through a forgivable loan. This would have allowed him to defer paying taxes until the loan was forgiven, providing more flexibility in his tax strategy.

However, the NFL shut down both proposals, citing the current collective bargaining agreement. While the league is open to innovation on the field, they’re less flexible about changing tax arrangements for individual players.

Even with these hurdles, Williams still has plenty of opportunities for smart money strategies. He has earned $10 million from name, image, and likeness deals and signed endorsements with big brands like Dr. Pepper and Nissan. Plus, he launched his own investment firm, 888 Midas, focusing on private equity, venture capital, and real estate—all areas where tax planning plays a huge role.

The takeaway here? Whether you're a professional athlete or a Portland resident looking for tax reduction strategies, how you structure your income can significantly impact your tax bill. With effective Portland tax planning, you can keep more of your hard-earned money. Now is the time to take advantage of smart money strategies and maximize your savings.

Ready to tackle your taxes and create a winning plan? Schedule a Right Fit Call with us today to see how we can help you plan for your financial future: Schedule a Call. Let’s see if our tax strategies are the right fit for you!