“One of my players makes $2 million a year, and it will cost him $80,000 more now because he can’t deduct state taxes [over $10,000], agent fees, workout clothes, meals and entertainment, and his cellphone,” says Steven Goldstein, a CPA with Grassi and Co. in New York who works with over a dozen professional athletes and celebrities.
And players who make tens of millions of dollars a year will potentially pay hundreds of thousands more a year in taxes.
The reason athletes are taking this hit is because individuals can no longer deduct more than $10,000 for state and local taxes (SALT) or declare miscellaneous itemized deductions for work-related expenses and investment fees. And these changes, especially the latter, will cost pro athletes more than most people.
>for what they contribute to humanity prove me wrong Free market determines their value. They draw enough eyeballs to sell ads.
Henry Ward
big4 accountant here. i cant even begin to described the kvetching going on because of the loss of the State and local taxe (Salt) deduction. anyone who makes large a decent living in a high tax/penalty state (CA, NY, etc) has already been told “expect to owe”
so much for the “muh tax cuts for the rich” narrative
Ryan Myers
>agent fees, workout clothes, meals and entertainment, and his cellphone are 70,000
Anything to hurt niggerball in all its forms is a good thing.
Samuel Phillips
Doesn’t he make more money through endorsements and such. Him and his wife are worth 540 million.
Christian Rivera
your not paid based on your contribution to humanity though. if there are only a very selct few that can perform at the highest level, professional athlete, CEO, etc, they are going to command what ever price they want.
Dominic Young
>super rich people have to pay their taxes >somehow this is bad
Aaron Carter
>They draw enough eyeballs to sell ads and that contributes NOTHING to humanity. You must be female (lacking the deductive reasoning gene) and dont understand the implication of user's comment.
Jordan Carter
Good. They should vote for lower state taxes then.
sport has always been an integral part of white culture
Caleb Fisher
"Booo hooo, I have to pay more taxes because I get paid to do literally nothing. Its almost as if our tax system is supposed to help the working class and not the bourgeois"
Adrian Robinson
Fuck em. Football and Basketball Americans have been getting away with paying as little as possible.
Grayson Edwards
>Agent fees Don't they just take a flat percentage off everything?
Jaxon King
>projecting your emotion onto me >not understanding the ability to condition a massive population
Earners who don't make any physical improvement to society and are overall a drain (professional athletes, actors, (((investment bankers))), wage slaves) should be taxed at a higher rate.
Awesome news, I'm sure it's only New York and California tier states taking advantage of the rest of the country to subsidize their high tax rates anyway.
Luis Anderson
>They draw enough eyeballs to sell ads. Show bobs and vegana. Pay.
Christian Davis
Since when does contribution to society corellate with income?
Levi Torres
>deduct entertainment What kike shit is that.
Alexander Bennett
Advertising is cancer prove me wrong
Anthony Phillips
So play a white sport like hockey and not handegg or blacksketball
oh so they can't use lax tax laws to deduct things that shouldn't be considered viable deductions. good
Evan Morris
they dont contribute anything to humanity in the sense user was implying.
Are you people fucking retarded today or what? Put the bong down.
Luke Bell
>projecting your emotion oh the irony in your pic, jose. Youll get it when you get out of middle school.
Carson Campbell
I don’t know why everybody fanboys, gets excited, and pays a shit ton of money to support a bunch of brain dead niggers to play a children’s game. They’re rich off of throwing a ball around and gayly slamming into other men
Levi Price
>Since when does contribution to society corellate with income? Never. Thats what Im saying. GOd damn...are the niggers in prison allowed back on their blue hippo PC's? or are you guys just stupid this morning?
Elijah Hall
This, fuck 'em raise taxes for everyone making big bucks. They are all anti-white globalists anyways. Has anybody ever met a Millionaire or dare I say Billionaire who's not a cuck. (Exception made for Trump pbuh)
Benjamin Lee
sorry to confuse you, chris burke.
Robert Nguyen
Paychecks are not about fair compensation for an individual's contribution to humanity. It's the market that determines who gets money, and those who play the market the best get the most. A lot of unethical people make more money than pro athletes. Of course pro athletes are "overpaid" (whatever it means), but so are many others.
Angel Ramirez
Steven Goldstein, a CPA says your oppressing tyrone. Apologize
Eli Long
Sports will never be a free market so long as stadiums are paid for with tax revenue.
Cameron Morales
>Athletes are overpaid for what they contribute to humanity prove me wrong. >Paychecks are not about fair compensation for an individual's contribution to humanity. It's the market that determines who gets money, and those who play the market the best get the most. A lot of unethical people make more money than pro athletes. Of course pro athletes are "overpaid" (whatever it means), but so are many others.
Hey stupid phonemaker, nowhere does user say that "paychecks are about fair compensation for an individual's contribution to humanity"
I know youre finnish and inherently a retarded russian, but try to keep up if youre going to contriboot.
Joseph Gray
>"tax the rich!" >"Wait a minute, I only meant gun lobbyists and politicians! Not me!"
>still projecting emotion instead of arguing with logic
Nolan Perry
Tough shit. Low tax states aren't your personal fiefdoms that have to send off their money to the federal government while you use a biased loophole to keep all your tax dollars local. If you want to pay massive state taxes that's fine but it doesn't exempt you from your national obligations. Go fuck yourselves. Its also worth mentioning that even with the tax code biased in their favor liberal states were STILL broke. Fuck yourselves even harder.
