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Report: Falcons have at least ‘some interest’ in free agent DT Gerald McCoy

138 posts in this topic

18 hours ago, athell said:

Report : athell has at least "some interest" in Kate Beckinsale.

That movie where she crawled through the tunnels at the motel...WFW at least has some interest. 

Oh, and McCoy?  Bring him home TD...

 

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7 hours ago, Vandy said:

Nope.....they have to pay tax in every state they play. 

But if their home games are in Cali, half their income is taxed at that state’s highest rate  + highest  federal rate will put their overall marginal tax rate at close to 50%.

Really interesting. Some states have fixed rates, Cali like you mentioned has a variable rate though. Thanks for the info.

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15 hours ago, ATLSlobberKnockers said:

If we sign McCoy I ll be convinced that we have a top 10 defense.

How so?

Defense’s aren’t dictated by names on paper you still gotta play.

McCoys a great player but there are a lot of variables that go into it before making a call like this.

Again this is the name association bit because he’s been great somewhere else he’s going to be great here.

 

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7 hours ago, Vandy said:

Nope.....they have to pay tax in every state they play. 

But if their home games are in Cali, half their income is taxed at that state’s highest rate  + highest  federal rate will put their overall marginal tax rate at close to 50%.

Players don’t pay that though do they.

Surely they'd have things like trusts and businesses where there money can be deducted against there earnings or is that not how the US tax system works.

I know here in my country my business account everything I earn and buy goes through so I can write as much as I can off.

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11 minutes ago, kiwifalcon said:

Players don’t pay that though do they.

Surely they'd have things like trusts and businesses where there money can be deducted against there earnings or is that not how the US tax system works.

I know here in my country my business account everything I earn and buy goes through so I can write as much as I can off.

There is no “jock tax” in Florida, Texas and Tennessee.  It saves them between 6-8% in taxes compared to teams in any of the other states

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2 hours ago, kiwifalcon said:

Players don’t pay that though do they.

Surely they'd have things like trusts and businesses where there money can be deducted against there earnings or is that not how the US tax system works.

I know here in my country my business account everything I earn and buy goes through so I can write as much as I can off.

Yes, they set up LLCs and Trusts which are more for asset protection than for paying less income taxes....But bottom line Kiwi, it all comes out of the player’s Contracts...So in effect, they are paying it. 

But the question was about state income taxes. States will tax professional athletes who compete in their venues (called the jock tax)....

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6 hours ago, WhenFalconsWin said:

That movie where she crawled through the tunnels at the motel...WFW at least has some interest. 

Oh, and McCoy?  Bring him home TD...

 

You have the scene in Click where she's dressed like Pocahontas or literally any scene from Underworld and you choose this?

Get. Out.

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11 minutes ago, Malachore said:

You have the scene in Click where she's dressed like Pocahontas or literally any scene from Underworld and you choose this?

Get. Out.

:lol:

Click makes me feel some things...

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1 hour ago, kiwifalcon said:

Players don’t pay that though do they.

Surely they'd have things like trusts and businesses where there money can be deducted against there earnings or is that not how the US tax system works.

I know here in my country my business account everything I earn and buy goes through so I can write as much as I can off.

This breaks it down by Division.  The lowest tax rate is 42% which is bordering on socialism.  And those taxes are taken out of their paychecks so no hiding it.

https://smartasset.com/taxes/nfl-jock-taxes

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58 minutes ago, Vandy said:

Yes, they set up LLCs and Trusts which are more for asset protection than it is paying less income taxes....But bottom line Kiwi, it all comes out of the player’s Contracts...So in effect, they are paying it. 

But the question was about state income taxes. States will tax professional athletes who compete in their venues (called the jock tax)....

Vandy is there whole salary taxed or just there base salary basically game cheque’s?

Id assume it would be there base salary or game payments in and out of state and the signing bonus and alike in the state they lived,explain please?

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10 minutes ago, kiwifalcon said:

Vandy is there whole salary taxed or just there base salary basically game cheque’s?

Id assume it would be there base salary or game payments in and out of state and the signing bonus and alike in the state they lived,explain please?

Now that’s a good question. It’s supposed to pro-rated on whatever their taxable income is for that season....but you could make an argument otherwise that the bonus was earned in his home state, not where the game is being played.

Also, most states don’t have auditors, so my guess is most players would want their preparers to take the ‘gray’ position and exclude the bonus.

But I think if audited by a state they would lose that argument. 

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7 minutes ago, Vandy said:

Now that’s a good question. It’s supposed to pro-rated on whatever their taxable income is for that season....but you could make an argument otherwise that the bonus was earned in his home state....most states don’t have auditors, so my guess is most players would want their preparers to take the ‘gray’ position and exclude the bonus.

But I think if audited they would lose that argument. 

Grey area lol.

Man I would think bonuses and alike would only be taxed in there home state.

My question then would become if I hit a target in a game outside of my home state how is that taxed lol with the game cheque in the outside state is the bonus taxed according to where the money is earned or where the contract is signed according to which state you reside in.

I like exploiting gray areas lol.

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2 minutes ago, ya_boi_j said:

Was fully expecting the browns to snag him

 

Probably gonna take offer and see if anyone will go higher.

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Just now, BoomGoesTheDynamite said:

Wonder if it's money, or if they feel like he's lost a step?

If they thought he lost a step they wouldn't have brought him in?

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3 minutes ago, BoomGoesTheDynamite said:

Money it is then

Or he is going to other teams to see if he can get someone to offer more?

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51 minutes ago, kiwifalcon said:

Grey area lol.

Man I would think bonuses and alike would only be taxed in there home state.

My question then would become if I hit a target in a game outside of my home state how is that taxed lol with the game cheque in the outside state is the bonus taxed according to where the money is earned or where the contract is signed according to which state you reside in.

I like exploiting gray areas lol.

I do too, so that would be my advice as well. But I would also let them know it was grey.

Re: Hitting your target.....

taxed where the money is earned. My guess the state would take their tax cut out immediately, before you even got the checke. You would have to file a return in that state to request it refunded.

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Posted (edited)

45 minutes ago, Yo_Lover said:

Or he is going to other teams to see if he can get someone to offer more?

Pick one dang it!

:lol:

Edited by BoomGoesTheDynamite

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35 minutes ago, BoomGoesTheDynamite said:

Wonder if it's money, or if they feel like he's lost a step?

 

35 minutes ago, Yo_Lover said:

Probably gonna take offer and see if anyone will go higher.

I hate it when players do that but I get it. I do know the Browns fans are craving for a big name DT. They wanted Grady to hit the market desperately. 

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9 minutes ago, ya_boi_j said:

 

I hate it when players do that but I get it. I do know the Browns fans are craving for a big name DT. They wanted Grady to hit the market desperately. 

Do you think there's a chance Grady won't return as a Falcon next season? I didn't know Browns fans knew about Grady. That's interesting.

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