“Well, it’s been an interesting off-season, and I’m going to have to make some drastic changes,” Mickelson said over the weekend. “And I’m not going to jump the gun and do it right away, but I will be making some drastic changes.
“If you add up all the federal and you look at the disability and the unemployment and the Social Security and the state, my tax rate is 62, 63 percent. I’ve got to make some decisions on what I am going to do.”
Mickelson apparently has overestimated by about 10 percent, but his tax bite will be going up. That includes an extra 3 percent because of a California increase on rich guys like Mickelson.
And he is a rich guy. Mickelson made a reported $44 million in endorsements last year, in addition to his official PGA Tour earnings of $4.2 million. If he wants to keep more of those big bucks, as Forbes points out, he should consult one of his sponsors. If you follow golf at all, you know Mickelson usually is wearing a cap bearing the logo of KPMG, the accounting firm.