ReddingRam
Hall of Fame
This whole article just smelled to me of spilt milk. And after the nearly two yrs of the "LA vs. St. Louis" drama going on everywhere .... I am just tired of it.
Higher taxes will impact Rams employees in LA/SI.com
- Thread starter RamBill
- Start date
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I find the tax cost interesting. For the 1% ers they hire expert tax accounts (CPA'S) that can save lot's on taxes. It's out of my pay grade and knowledge base. I'm not overly concerned that some players will pay more than others depending on where they play. Here are a couple of links about residency and bonuses from a CPA blog. Even reading these it is complicated at the state(s) level. It would be interesting to see a real life type example of real cost including real estate appreciation and endorsements. Do we have a CPA amongst us?
http://www.hodgsonruss.com/media/publication/129_12_2010 The Multistate Tax Quandary For Professional Athletes.pdf
http://www.hodgsonruss.com/media/publication/434_How States Handle Signing Bonuses for Athletes.pdf
http://www.hodgsonruss.com/media/publication/129_12_2010 The Multistate Tax Quandary For Professional Athletes.pdf
http://www.hodgsonruss.com/media/publication/434_How States Handle Signing Bonuses for Athletes.pdf
I'm no CPA or anything close... I hire that our also. I live in one state (Washington) with no income tax and work in another (Oregon) that levies a 10% tax (must be for all the infrastructure I don't use...). I only pay OR taxes for the days I actually work in Oregon. The taxes are pro-rated. If WA had a 5% tax, then I would owe Oregon the larger amount, less what I paid to my own state. I think the same is true for these out of state athletes...Pretty sure Seahawk players owe taxes on 1/16 of their pay when they play a game in Oakland, LA, San Jose or San Diego... whereas Dallas, Miami... not so much, eh? I can see the advantage to getting more of the pay in bonus money, if I was a Seahawk. Other locations will be in between these extremes... However, if you LIVE IN California, there is no escaping it whether on the road or not - unless some other state has a higher tax, then you may owe a bit more somewhere else...
That's how I see it. And really, even less of a big deal for someone with a roomful of accountants...
That's how I see it. And really, even less of a big deal for someone with a roomful of accountants...