TaxDay, which makes a travel-tracking app for travelers who live or conduct business in multiple states, is now an official partner of the Major League Baseball Players Association. TaxDay has been tasked with simplifying members' documentation and reporting of multi-state residency, travel and work, which is required by U.S. tax law.
The official partner status grants TaxDay marketing and promotional support from the MLBPA in exchange for providing TaxDay app subscription services to all MLBPA members and professional staff.
Professional athletes in the Association travel extensively and must report and allocate a portion of their compensation, based on the time they spend in each U.S. state where they play. With the partnerships, players have access to the TaxDay app, which can generate reports to assist their accountants with mandatory yearly tax reporting.
The TaxDay app holds tax residency rules for all 50 U.S. states and uses the GPS-tracking features in a user's mobile device to automatically determine when a new jurisdiction has been entered and accurately catalog taxable days. TaxDay users can also upload travel records and other receipts to document their travel. The information is stored in the cloud for future reference.
“Having spent over 23 years as chief financial officer for a Major League Baseball team and as CFO of the Major League Baseball Association, I’ve experienced firsthand the challenges that the so-called 'jock tax' presents for professional athletes at tax time,” stated Jonathan Mariner, founder and president of TaxDay. “TaxDay was designed to take the hassle out of keeping track of multi-state travel, and to provide credible documentation in the event of a tax audit. MLB players and staff can now harness TaxDay to gain ‘tax confidence’ when they travel during the playing season, and all year long.”
“We have partnered with a number of companies who can help us meet that goal, and believe that TaxDay, as our most recent addition to that group, is well-suited to address a vital need for all of our players — seamless, accurate tracking and reporting of travel days for taxes,” added Tim Slavin, chief of business affairs for the Major League Baseball Players Association.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access