b'BUSINESS TIPDo you have to pay employees like superstars to keep them?By Eric Chester, CSP, CPAELast year, five-time NBA All-StarMinuteslater,theteamsgeneral KevinLovesignedacontracttomanager introduces a nicely dressed return to the Cleveland Cavaliers.basketball player (currently relaxing His new deal will pay him $120Mduring a four-month off-season) who, over four years, approximately $30withtheeffortlessflickofhispen, million per year. signs a contract that guarantees him These days, its not uncommon to400 to 500 TIMES the amount that see professional athletes sign enor- will appear on your year-end W-2.mous contracts punctuated with aBut thats not allstaggering number of zeros. In addition to those fat checks, the Whatisuncommonaboutthisguy in front of you will be cheered particularstoryiswhereLoveand idolized by tens of thousands of signed his new deal. adoring fans all while being treated The29-year-oldpowerforwardlike the King of Siam everywhere he signedhiscontractextensioningoes. Hell never wait in line for any-frontofnearly100constructionthing, nor will he have to hunt for a workerswhowerecompletingparking spot. And lets not forget the the$140millionrenovationofbeaucoupdollarsthatwillpourin the Cavs home stadium: Quickenhis coffers from corporate sponsor-Loans Arena in Cleveland. ships and endorsements for playing Imagineforamomentthatyoua game youd gladly play for free.are one of those construction work- Afterashortspeech,thestar ersmakingsomewherebetweendisappearsintothelockerroom $50-$80K per year. signalingthatitstimeforyouto Youre busy installing new seatsclimbbackuptothenosebleed in the upper deck of an arena whensectionandgobacktoinstalling suddenlyavoicecomesovertheanother row of seats.intercominvitingyoutotakeaLet that scenario wash over you short break and come down to thefor a minute.gymnasiumfloorforanexcitingNow breathe as you chew on this:development. Why did the construction work-34TileLetter | September 2019'