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Around the League 2019-2024 Edition

The point is that in the US it is possible to write off a lot more stuff on your income taxes than you can in Canada. The Canadian system is designed to ensure that people pay taxes. The US system is designed so that rich people can avoid paying them.
 
lecoqsportif said:
Those are the marginal rates on the last dollar they earn, not the average rate which is a weighted average of lower rates applied to the lower brackets.
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That’s not going to make much difference. You’re already in the 20% bracket at $100k and you’re in the highest bracket at $600k and up. The savings under those two levels is nominal when talking about $8m or $11m.
 
They earn income by game and get taxed where the games are played. How payments are structured, where they live during the off season, tax treaties and local taxes (some states and municipalities charge athlete taxes) all affect what taxes they pay.
 
I’d expect they’re paid weekly or bi-weekly during the regular season. And they allocate portions of the salary pro rata based on how many days they spent in each state for games/travel out of the full year and pay that state’s taxes for those days, if the state has any income tax.
 
LeafOfFaith said:
I’d expect they’re paid weekly or bi-weekly during the regular season. And they allocate portions of the salary pro rata based on how many days they spent in each state for games/travel out of the full year and pay that state’s taxes for those days, if the state has any income tax.
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90% of Shesterkin's deal is signing bonus, which is presumably taxed at whatever rate applies to his residency when he collects that, so Texas or Florida or whatever.
 
UWHabs said:
90% of Shesterkin's deal is signing bonus, which is presumably taxed at whatever rate applies to his residency when he collects that, so Texas or Florida or whatever.
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Yup as one tax specialist mentioned on a podcast

Athletes who make mega millions have their own movie called , 50 ways and shades to pay less tax
 
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