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Taxes for Athletes?

Discussion in 'NBA Dish' started by joesr, Jul 3, 2009.

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  1. joesr

    joesr Member

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    I'm just curious on how much an athlete pays for taxes. Is it an extremely high bracket?

    Lol, if he is a Texan resident does he have to worry about state taxes!
     
    #1 joesr, Jul 3, 2009
  2. Tenchi

    Tenchi Member

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    Certain jurisdictions make you pay taxes if you're working in them. Like let's say you live in Texas and you work in NYC for a few weeks, then you have to pay NY taxes for the time that you worked there.
     
    #2 Tenchi, Jul 3, 2009
  3. BetterThanEver

    BetterThanEver Member

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    no state income tax in Texas.
     
    #3 BetterThanEver, Jul 3, 2009
  4. rimrocker

    rimrocker Member

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    I think most places now tax professional athletes whenever they play there. For instance, if you play an NFL game in Philly, you are taxed on 1/16 of your earnings by PA/Philly.
     
    #4 rimrocker, Jul 3, 2009
  5. Franchise3

    Franchise3 Member

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    35% is the highest bracket for federal income taxes. Basically all pro athletes fall into the highest bracket.
     
    #5 Franchise3, Jul 3, 2009
  6. BetterThanEver

    BetterThanEver Member

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    If you are an NBA star player, please come to Houston. :cool:
     
    #6 BetterThanEver, Jul 3, 2009
  7. shastarocket

    shastarocket Member

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    ^ Unless your name is Iverson, Zach Randolph, Boozer or Kirilenko. Please proceed to GTFO
     
    #7 shastarocket, Jul 3, 2009
  8. juicystream

    juicystream Member

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    This is very true. So only half your salary is free of state income tax in Texas. We've done the returns for a few athletes and scouts at my firm. They get W-2s from each state. It was surprising to me when I first found out.
     
    #8 juicystream, Jul 9, 2009
  9. Big Shot Bob

    Big Shot Bob Member

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    haha, that cracked me up.
     
    #9 Big Shot Bob, Jul 9, 2009
  10. thelasik

    thelasik Contributing Member

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    I was actually wondering the same thing after reading an article on how athletes are taxed. Good to know.
     
    #10 thelasik, Jul 9, 2009
  11. greymatter

    greymatter Member

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    This would totally suck
     
    #11 greymatter, Jul 9, 2009
  12. BetterThanEver

    BetterThanEver Member

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    Are you Trevor Ariza?
     
    #12 BetterThanEver, Jul 9, 2009
  13. Franchise3

    Franchise3 Member

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    Do they really tax you on 1/16? It seems like it would be less than that?
     
    #13 Franchise3, Jul 9, 2009
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