I learned this the hard way.

When I played in Australia, I assumed overseas income worked like some kind of tax free cheat code like trying to get 30 extra lives in Contra. I thought I’d come home, file normally, and keep earning.

That assumption cost me $23,000.

I didn’t have the right support. My accountant was local and while great at domestic returns, was not equipped for foreign income rules, credits, and the things that can save you from getting crushed when you come home.

That bill hit at the worst possible time. It was the first REAL money I’d ever made. I grew up modest and the G League wasn’t exactly putting me in a new financial category. So seeing that deposit…then realizing a huge chunk of it was gone after the fact…was fucking brutal.

I had to refile and try again the next year to recoup some of it. It did teach me something...If you’re playing overseas, do not guess on taxes.

You need a tax expert who understands foreign income and can tell you exactly what to send your accountant back home. If you wait until you’re home and filing, you’re already late.

That experience is one of the reasons I built OverseasX. We connect athletes with foreign tax experts who know these rules and can help you avoid getting hit with a bill you never saw coming.

If you’re abroad right now and unsure where you stand, hit up @David Lesperance JD