I thought some might to read these enlightening articles on Rudy, especially today. We've heard speculation that he's pissed with his role via his agent. Whether that's true or not, Holdahl's series of articles are straight from his mouth. While they're not relevant to the swirling rumors of today, they do remind us of the kind of person Rudy is. Nate needs to hop on plane from Orlando tomorrow to Spain. I want Rudy here, at least another year with a bigger role so that we can see how well he can work with Brandon, Turk, Lamarcus, and Greg. http://trailblazerscentercourt.blogspot.com/
It is sounding like Turk is not going to be with us. I would take the 60mil and Toronto if I was him.
With the tax system how much more is it really? That is an honest question. I know it is higher there than in the states......even Portland
Theres also the exchange rate that would work IN his favor. No a huge amount per dollar but when you're talking 60 million of them it's a big difference. The taxes up there are absurd though. See I can be a decent fella
Do you, or anyone know of a website breaking down actual income after taxes for nba cities? Man for his contract to get to 60 million over 5 years it has to start at over 10 per.
http://www.toronto.ca/taxes/property_tax/tax_rates.htm 0.8547807% http://www.walterharder.ca/T1.html for income taxes, but that's like doing your own taxes to figure that shit out... BUT it does look lower for some reason... I would think it would be high as well b/c health care
Wikipedia shows Canadian top-income tax at 29% which is lower than the USA (35%), not sure if there are local taxes as well as we have state taxes and the like.
There are 2 additional taxes on every purchase you make as well. I'm no expert (trust) but their "sales tax" hurts too. Although, maybe overall the taxes don't hurt as much as some of us may have expected.
Not an accountant, but people in NBA players income bracket pay 35% of their income to the federal government + whatever the local taxes are (around 9% in Oregon, with plans to bring it up to 11% if memory serves). In Florida there is no state income tax - so his entire income tax there was just the federal tax. The Wikipedia stuff shows that the Canadian income tax (which I assume is for the Canadian "federal" government) is at 29% for his tax bracket. If the city of Toronto and Ontario have local taxes as well - he might pay more taxes than in Oregon - but I do not know if they do or not.
Well, one assumes that people that make all this money do not spend all of it and live check to check - so it is a smaller burden, I suspect. Of course, if Hedo needs to go to the mall every time after practice and purchase the entire contents of the Gap... he might have a problem...
35% marginal rate. That is, 35% of their income above the cut-off for the previous bracket. Not 35% on their entire income.
Given that this bracket starts at $370,000 and we are talking about a guy going for $10m per year... it's pretty much 35% for all practical purposes of discussion on an internet forum... if you actually do the calculation - it comes to 34.78%
Agreed. He plays with the kids, he knows all their names... He's the opposite of a prima donna. I don't know what to think: is Nate just so inflexible that he can't work with players with flair? Even Poppovich recognized that he had to let Manu be Manu. I would like to see Nate go out to Spain and talk to him, though (assuming we sign Hedo). He should tell him that besides the backup SG minutes he'll be getting a lot of PG minutes, and that he and Turkoglu can alternate being the non-Roy ballhandler. Also that Turkoglu is now in charge of throwing him alley-oops.
In practical terms, it's not a big difference in this case. Still, it's important to get concepts right because when people don't think in terms of marginal rate, they think it's actually a bad thing to make slightly more and move just barely into a higher bracket.
You are right in principle, of course, but I was trying to answer a simple question by someone that wanted the basics. For the purpose of this discussion - it seemed right. You are a producer sir, whenever you open the Tax sub-forum for the Portland section of S2 - I am sure we can have more detailed information there...
Are you guys not aware of the "Jock Tax"....it makes things even more difficult to figure out, but sort of levels the field given the "tax" issue, as players have to pay taxes to several states outside of their home one: http://articles.latimes.com/2009/apr/12/sports/sp-jock-tax12 I actually work for the company that created, implemented and maintains the tax processing software for Ontario (most of Canada actually) as well as multiple states. I probably could ask someone who does Individual Income Tax in Ontario and give you the exact number he would be taxed...if only it weren't pretty unethical ;-)
How's the new job going? Going to stick with it or are you coming back to Ptd and going to Blazers games this winter?
