(04-18-2023, 07:21 AM)BFritz21 Wrote: NFL contracts are taxed at 37%, but bonuses are only taxed at 22% until they hit a million dollars, so why don’t they just classify any money outside of what’s guaranteed as a bunch of bonuses for less than a million dollars?

It could be something as easy as listing it as a bonus for practices practiced or games played.

Or is it over a million for the entire year and not just individual paychecks?

(04-18-2023, 07:21 AM)BFritz21 Wrote: NFL contracts are taxed at 37%, but bonuses are only taxed at 22% until they hit a million dollars, so why don’t they just classify any money outside of what’s guaranteed as a bunch of bonuses for less than a million dollars?

It could be something as easy as listing it as a bonus for practices practiced or games played.

Or is it over a million for the entire year and not just individual paychecks?

(04-18-2023, 09:07 AM)spazz70 Wrote: What does it matter?  If you owe 37 % on your total income at the end of the year and have not paid in that amount then you will owe the man.  Have you never filed taxes?

(04-18-2023, 12:33 PM)BFritz21 Wrote: I minored in accounting in college and I know that some things are taxed differently, like bonuses are taxed at a different rate than a player’s normal income.

(04-18-2023, 07:53 AM)SunsetBengal Wrote: Can you give us a link where that information came from?  Being able to read the rest of the article may offer insight as to the answer to your question.

(04-18-2023, 01:21 PM)BFritz21 Wrote: This one is just about taxing draft picks.

This says that signing bonuses are generally only taxed at the state level, which, like income, I'm assuming is taxed at a lot less of a rate than federal taxes, so why wouldn't they just make most of it a signing bonus and then take a minimal regular salary?

Just seems like there would be ways around the tax code.

(04-18-2023, 01:31 PM)SunsetBengal Wrote: According to the article from Forbes, it's only dealing with State taxes as they relate to signing bonuses.  If a player receives all of his pay via game checks, he has to pay the state and local tax rate for the city/state he played that week.  If he receives his money as a bonus, he's only taxed on that money in the city/state that he has his official residence established.  For example a player living in a 'no State income tax State' like Texas or Florida, they can save a large amount of money by electing to take their money in the form of a bonus.  Whereas athletes residing in high tax States like NY, Ill, or Cali, will feel a huge tax burden on said bonuses.