07-05-2024, 05:27 PM
(07-05-2024, 04:21 PM)TheLeonardLeap Wrote: - - - - - - - -
After all the taxes, the players take home a whole lot less. In Cincinnati, if you make $705k, you're taking home $424k after Federal, FICA, State, and Local taxes. Of course you actually end up having to file taxes for every state you play in. So while you'd have a marginal 3.75% State taxes in Ohio for the 8 games you played there, if you play @Chargers and @Rams that year, that's 2 games with California's 13.3% cutting into those week's paychecks.
So you can see how a guy who has no year-to-year employment guarantee, or even week-to-week employment guarantee, can afford to be putting 14-23.5% of their entire year's take-home salary on hiring someone.
Are you sure about this? Usually, you pay the taxes in the state that you live in. Or else everyone who travels for work would have to file taxes out the wazoo. When I lived in a hotel in Mississippi for 9 months out of the year, my home work location was Ohio. I didn't have to pay taxes to Mississippi. Well, except for your standard taxes on purchases.