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2014 off-season Compendium

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  • octothorp wrote: View Post
    You still pay federal tax regardless of your state; even Texans and Floridians pay the US federal tax. US federal tax rate (now that the Bush tax cuts have expired) is 40% on the highest earners, plus state taxes.

    Canadian highest federal tax rate is 29% plus provincial taxes. Ontario charges 13% to highest earners, for a combined federal tax of 42%.

    So Ontario's combined tax rate should actually be cheaper than every state except the zero state tax ones. And even in Texas, that's only a 2% difference, or $20,000 on every $1 million. So, yeah, an extra $100,000 should be just about right to cover the differences in tax for a guy like Garcia.

    Most of the perceptions about Canadian tax disadvantages date from a few years ago the highest bracket in Ontario was 47%, and the US federal rate was 36%, resulting in a more than 10% swing between Ontario and Texas. But that's definitely not the case any more.
    well according to this:

    http://www.taxtips.ca/taxrates/on.htm

    the highest combined rate in ontario is 49.5%.

    I was having a little trouble finding the provincial rates (i wasnt trying that hard) so that's the only source i got.
    "Bruno?
    Heh, if he is in the D-league still in a few years I will be surprised.
    He's terrible."

    -Superjudge, 7/23

    Hope you're wrong.

    Comment


    • CRA lists 29% as the highest federal bracket and 13% as the highest Ontario provincial rate.

      http://www.cra-arc.gc.ca/tx/ndvdls/fq/txrts-eng.html

      I'm not sure I understand what the Surtax is on the form that you listed, which seems to be the discrepancy, and I'm not an accountant or an Ontarian so perhaps there's someone better suited to explain it.

      Edit: oh yeah, after reading a bit more it seems like that surtax adds an extra 10% on the highest earners, making you guys about 8% more expensive than any other province. You guys need to find out what provincial party is going to make it most affordable for pro athletes and vote for them.
      Last edited by octothorp; Fri May 9, 2014, 05:33 PM.

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      • apparently:

        in Ontario, it works like this: You pay a certain percentage of your income, a percentage that rises at certain levels. Then, once that amount of tax has been calculated, you have to calculate a new percentage of that amount, and that’s the surtax.
        "Bruno?
        Heh, if he is in the D-league still in a few years I will be surprised.
        He's terrible."

        -Superjudge, 7/23

        Hope you're wrong.

        Comment


        • Don't forget NBA players are taxed where they play.

          41 games at home,
          41 on the road.

          Comment


          • mcHAPPY wrote: View Post
            Don't forget NBA players are taxed where they play.

            41 games at home,
            41 on the road.
            what? no...

            unless there's something in the CBA about that?
            "Bruno?
            Heh, if he is in the D-league still in a few years I will be surprised.
            He's terrible."

            -Superjudge, 7/23

            Hope you're wrong.

            Comment


            • stooley wrote: View Post
              what? no...

              unless there's something in the CBA about that?
              Income tax is government.

              The "Jock Tax" - Why It Hurts:

              You don't see pro-athletes moving in droves to live in or establish residency in states like South Dakota or Wyoming -- like Texas, both have no state income tax.

              The truth is pro athletes pay a "Jock Tax." This means their income is taxed on a game-by-game basis requiring them to pay applicable taxes for where they lace up their kicks and slurp Gatorade.

              Say you're all-bench backup center Tim Ohlbrecht. You only get off the bench for a few high fives during a painful 105 - 107 Rockets loss to the Suns in Phoenix. Keeping that folding chair warm for one day during your short shift in the NBA is subject to Arizona's 4.54% state income tax rate for individual earners over $150,000.

              Are there savings by signing a contract in Texas? Yes.

              It's important to know it's not an 82 game free pass. Dwight would technically be tax free for 49 games: Games against the Spurs, Mavericks, Heat, Magic and Grizzlies are not subject to state income taxes.

              http://www.thedreamshake.com/2013/6/...ard-to-houston

              Comment


              • Nando De Colo’s priority is to stay in the NBA, the Toronto Raptors are thinking about resigning their free agent, however there’s a nice back up plan for him if things don’t work out. He can return to Europe and some of the continent’s top clubs interested on him.

                According to Eurohoops sources, Barcelona, Fenerbahce/ Ulker and also Anadolu Efes are among the teams which are willing to make a run to get him. After all, De Colo has some impressive seasons in Spain against Barcelona, his name was among the possible targets of Fenerbahce/ Ulker since last summer and coach Dusan Ivkovic believes that a player like De Colo, who was polished by his close friend Gregg Popovich in San Antonio, can be a part of his new Efes project.

                It remains to be seen what kinds of offers De Colo will get from the NBA after being paid 1,5 m. dollars last season, because it seems that the European clubs interested on him are ready to pay him better.

                http://www.eurohoops.net/2014/06/dunks/50866
                Nando sighting

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                • Nando's a guy i don't mind paying a little more than what he's worth for, just because of his versatility. he was as good off the ball as he was as primary distributor. those kinds of guys are key.

                  with the luck we had this year with injuries i fully expect to deal with a bunch next year. i'm just sayin'. having a guy like Nando would do a world of good.
                  @sweatpantsjer

                  Comment


                  • ceez wrote: View Post
                    Nando's a guy i don't mind paying a little more than what he's worth for, just because of his versatility. he was as good off the ball as he was as primary distributor. those kinds of guys are key.

                    with the luck we had this year with injuries i fully expect to deal with a bunch next year. i'm just sayin'. having a guy like Nando would do a world of good.
                    but when you look at this draft... later picks are full of players in that mold.. especially the ones we invited for work outs.and they come cheaper than what Nando would ask .... they might also develop into something better. I'd prefer to go through the draft to get a player that brings what Nando does!

                    Comment


                    • We can get a suitable guy with one of our picks.
                      The name's Bond, James Bond.

                      Comment


                      • I really liked the way Nando moved the ball, I think it would've helped us in the playoffs especially when Vasquez wasn't playing well in game 7 and we didn't have much offense

                        Sent from my HTC One using Tapatalk

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                        • ^ I really hope Nando is back and is the backup PG (Vasquez is more of a 2 guard in my eyes)

                          Really think he can be an impactful backup PG in the NBA. Consistency is his only issue atm

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                          • We should bring back Austin Daye. He knows what it takes to be a winner. He's won a championship.

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