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Old 04-14-2013, 06:28 AM  
DTLB58 DTLB58 is offline
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How pro athletes are taxed.

@darrenrovell: Great article on how pro athletes are taxed http://t.co/oleF0DqzbA

It is a very good article. Nice break down in the graphic on the right. Just sick how much taxes get taken and from where!
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Old 04-14-2013, 11:22 AM   #16
displacedinMN displacedinMN is offline
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ugh.

Never had heard about this before.
I liked the comment about 'no taxation without representation'

About the only thing I can think of to relate is the massive taxes that are put on vacation property owners. Of course, it cannot be homesteaded, but it allows for more taxes than the home across the road that is not on a lake.

It seems like another way for an athlete to get 'taken' by someone.
Have a watchdog for your money-have someone watch them.
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Old 04-14-2013, 11:38 AM   #17
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Quote:
But it wasn't until 1991, when the state of California sent tax bills to Michael Jordan and the Chicago Bulls after they beat the Los Angeles Lakers in the NBA Finals, that states began enforcing those laws on high-profile and high-income earners.

Later that year, the Illinois legislature passed a law, later dubbed "Michael Jordan's Revenge," that taxed visiting teams from California. Soon after, every state that collected income tax enforced its nonresident laws on professional sports teams.

Read more: http://www.post-gazette.com/stories/...#ixzz2QSbiIZgg
The Butthurt Tax
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Old 04-14-2013, 12:45 PM   #18
CrazyPhuD CrazyPhuD is offline
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Meh this just shows how much bad financial advice pro athletes get(well besides the 80% bankruptcy rate after they retire). The answer to this one is simple minimum base salary. Guaranteed bonus every year. They can only tax your game day checks, the bonus you get when you're in your state of residency, i.e. TX, FL, etc if you're smart.

Oh and as more high tax states start to go bankrupt don't think they won't come for salesmen etc working in their states too.
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