Phil Mickelson hit by Large Tax Rise

Golfer Phil Mickelson stated he would be making drastic changes to his life in a bidto escape escalating taxes in his home state of California coupled with rising federal tax rates in the U.S. Exactly what he means by drastic changes will be revealed at an event in his hometown of San Diego, California starting January 24th; however, rumors are circulating Mickleson, 42 will be maving out of the state or retiring from golf altogether.

Mickelson’s decision to make changes follows the decision to raise the tax rate in California for those earning more than $1 million from 10.3 percent to 13.3 percent. The hall of fame golfer could follow many of his fellow professional golfers who live in states with no income taxes, such as Texas and Florida. WHatever his final choices about his career direction because of the tax situation Mickelson has already withdrawn from a consortium interested in buying professional baseball team the San Diego Padres because of the rising taxes in California.

On The Web:

http://www.forbes.com/sites/robertwood/2013/01/21/phil-mickelson-is-not-alone-in-fleeing-taxes/