WHO WE ARE
At Our Core – We Know Taxes
PMG Private CFO Services is the only tax-centric organization that serves as the CFO for each of their clients and handles all of their day to day financial management.
After working with hundreds of professional athletes for more than two decades, we have seen it all. Spending too much on unnecessary expenses, giving excessively to friends or family members and allowing someone else to take charge can seem to be minor in scale at the onset but can be significant drags overtime on their ability to save sufficiently. Assuming that they are wise with their spending, the majority of pro athletes still lose as much as half of their gross income to taxes.
It is imperative that the professional athlete runs their personal finances like a business and realize what the impact of each and every decision can have on their future. Instead of taking the time and putting in the effort to make sure that they are adhering to a plan and have a true grasp on where they are financially, the majority make decisions based on their bank balance at the time and with little consideration of the future impact while conceding to the IRS and the states whatever they request in taxes.
Private Chief Financial Officer (CFO) Services
PMG Private CFO Services is the Chief Financial Officer (CFO) for our clients. We are the senior executive responsible for managing the financial actions of a company and extended business. The CFO’s duties include tracking cash flow and financial planning as well as analyzing the company’s financial strengths and weaknesses and proposing corrective actions. We help athletes to run their lives as a business.
We use business bookkeeping as the core of our practice and that plus advanced tax planning is what opens the doors and serves as the backbone to our relationship. The bookkeeping allows us to track their inflows and outflows, we create financial reports monthly and analyze them, we know the client’s estimated tax liability prior to the year-end so that we can make proactive recommendations, and we review their individual strengths and weaknesses to help them to maximize their financial future.
"Someone is sitting in the shade today because someone planted a tree a long time ago."
- warren buffett