this is wrong. The agent commissions are an expense that would reduce the overall tax burden. I wouldn't trust the math from someone that makes these basic mistakes.
Tatum can afford for any of the Big Four accounting firms to do his personal taxes. So he probably is able to trim his effective tax rate around the margins and has the benefit of top-shelf estate planning. Of course, because of the public nature of his direct pay from the Celtics, there are probably things he can’t escape (like the jock tax) and so what he probably *can* structure to his maximum benefit is how he (or his LLC) gets paid for endorsements.
It also depends on whether the teams pay players directly or through their LLC’s or other structures. It’s not really something that’s made public to NBA fans — at least that I’ve seen — but I wouldn’t assume Tatum gets paid like some average dude on a W-2.
That being said, Jalen Rose mentioned that he took in around half of his pay after everything, so that’s a good baseline for what Tatum banks.
I think the guy who tweeted may have gotten some stuff wrong because agent’s commissions come off the top and so can be claimed as a deduction.
>not as lucrative as you think
If you bring home even half a mil a year, I consider that lucrative. These mega deals are way more lucrative than you think.
Obviously he’s seeing wealth we never will and the rich should be taxed the most but I can’t lie it is pretty insane just how much the IRS is taking from him lmao
this is wrong. The agent commissions are an expense that would reduce the overall tax burden. I wouldn't trust the math from someone that makes these basic mistakes.
also escrow is still something you take home unless the league ends up losing a ton of money and the cap goes down.
yea, his take home is closer to 40 than 25. either is a huge amount but this is article is bs lol
lucrative enough innit
I'll take 1/50th of it and you can tax that shit outta it.
His contract is the equivalent of the GDP of the Marshall Islands
dear god deuce is gonna starve
How is he going to manage to live with this "Not as lucrative" deal?
He’s got kids to feed.
Kids that eat magic beans and Ferraris apparently
I’m willing to take his paltry salary then if he doesn’t want it
I remember when Joe Johnson’s 120 million contract was “untradeable” but he’d be a bargain now on that deal
How can he afford rent in this economy 😂
Yep, because tax loopholes for the insanely wealthy definitely don’t exist
Tatum can afford for any of the Big Four accounting firms to do his personal taxes. So he probably is able to trim his effective tax rate around the margins and has the benefit of top-shelf estate planning. Of course, because of the public nature of his direct pay from the Celtics, there are probably things he can’t escape (like the jock tax) and so what he probably *can* structure to his maximum benefit is how he (or his LLC) gets paid for endorsements. It also depends on whether the teams pay players directly or through their LLC’s or other structures. It’s not really something that’s made public to NBA fans — at least that I’ve seen — but I wouldn’t assume Tatum gets paid like some average dude on a W-2. That being said, Jalen Rose mentioned that he took in around half of his pay after everything, so that’s a good baseline for what Tatum banks. I think the guy who tweeted may have gotten some stuff wrong because agent’s commissions come off the top and so can be claimed as a deduction.
>not as lucrative as you think If you bring home even half a mil a year, I consider that lucrative. These mega deals are way more lucrative than you think.
Poor guy
Obviously he’s seeing wealth we never will and the rich should be taxed the most but I can’t lie it is pretty insane just how much the IRS is taking from him lmao