"Be a shame if someone was to set fire to it."
Posted on 02/06/2015 1:24:20 PM PST by MichCapCon
Former University of Michigan quarterback Tom Brady recently won his fourth Super Bowl, named MVP, and was rewarded with a lot of gifts. Brady even gave one of them to a teammate. But nothing is free, even when it’s free.
Americans for Tax Reform estimated that Brady’s Super Bowl success will cost him $42,000 just in federal taxes.
Here’s their breakdown:
Brady was awarded a 2015 Chevy Colorado truck valued at $34,000. He pays 39.6 percent of that in income tax or $13,500.
Brady reportedly gave the truck to teammate Malcolm Butler, who made a game-saving interception. That’s another $5,000 for a gift tax. That’s $18,500 in federal taxes on the truck, which was valued at $34,000.
Finally, Brady got a $97,000 check for winning the Super Bowl. That’s also taxed at 39.6 percent, plus he will pay a 3.8 percent Medicare tax. The NFL will pay for half of the Medicare tax, according to Americans for Tax Reform.
ForTheRecord says: While Brady may like his footballs deflated, his tax bill for the game was certainly inflated.
Gotta give bennies to all those illegals, don’tcha know.
Nice little bidness youse got here. would be a PITY if anything should HAPPEN to it...
"Be a shame if someone was to set fire to it."
I guess this author neglected to note that the NFL came out with the official statement that, "One ball was down almost 2-psi, three were down almost 1-psi, and the rest were either just under, or within, official spec.
The intercepted one in the possession of the Colts General Manager, who turned it over to officials, is the only one down 2-psi... things that make you go, "Hmmmmm....."
The league investigation is not even looking at Tom Brady or any Patriots. They are looking at the ones who ran to the ref with the only "bad" ball in the game. Must really suck to be a lying hate-filled bigot.
;^)
earnings: truck + winnings = $34,000 + 97,000 = $131,000
federal taxes (39.6%) plus medicare (1.9%)
then he needs to pay state taxes, which should only be arizona since he earned that money in arizona. that’s another 4.54% on what’s left after fed taxes.
federal tax: $51,876
medicare tax: $2,489
gift tax: $5,000
arizona state tax: $3,280
—
total tax: $ 62,645
total tax rate: 47.8%
of course, that’s not including the 6.1% 0bamacare tax i’ve heard about. i’m unsure how that would factor in.
people wanted a flat tax... well, we have it
If he claims MA residence, he would pay the state tax rate of 5.5% less whatever he paid to AZ. But I think he might be in CA, so I am sure they get a piece.
These guys have to be paid $100 million, just to make $20 million.
However, that’s a drop in the bucket considering that he makes US$12 million per year as the Patriots’ quarterback. And that’s not including his wife Gisele Bündchen, who makes over US$50 million per year as a fashion model.
Brady also has over $50-million per-year in endorsement deals. Not bad for playing a kid’s game...
Re: The Truck
Brady could probably avoid all tax liability if he refused to accept the truck, and Chevy decided “independently” to give it to Malcolm Butler, the same player Brady thinks should be MVP.
But then, Butler would owe federal and state income tax (close to 50%) on the truck.
Since Malcolm Butler is an undrafted rookie free agent, his salary is “just” $420,000 plus his Super Bowl share.
Butler's best choice is probably to sell the truck, pay the taxes, and keep what's left over.
Unless he loves the truck!
For Brady to get taxed for income in California, he must either live there for 6 months a year, or, he must own, or be employed by, a California business.
Maybe he can save some money if he deflates it.
Taxes aside I don't have any sympathy for someone earning $70,000 after taxes for less than 60 minutes of little to no effort.
While turning a deaf ear and a blind eye to veterans.
Since Malcolm Butler is an undrafted rookie free agent, his salary is “just” $420,000 plus his Super Bowl share.Oh that poor soul. How will he survive?
unless you’re also paying 48% of what you earn... then you’re part of the problem
That is HIS money!
Most undrafted rookies get cut.
And the ones who don't usually just last a couple years.
You’re going to be late for your NAMBLA meeting, Sparky.
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