Cam Newton's Earnings Tax

Sounds like the dindu has a really bad financial advisor

>>1081996
>http://www.forbes.com/sites/kurtbadenhausen/2016/02/03/california-taxes-will-eat-up-all-of-cam-newtons-super-bowl-earnings/#2715e4857a0b323cedc350a6

Link to article


>http://www.forbes.com/sites/kurtbadenhausen/2014/01/27/new-jersey-taxes-could-eat-up-all-of-peyton-mannings-super-bowl-earnings/#2715e4857a0b597f06c94c32

Link to another article referenced in the initial article you gazed through.

Reading comprehension and thorough reading is a very important part in business. I would be wrong in depriving you of this learning lesson. You're welcome.

>>1081996
Black people are bad with money for the most part.

I read just fine partner. Are they saying the percentages are based solely on how much he would earn over x amount of days for the superbowl alone? Like yearly tax amount divided by Superbowl earnings?

>>1081996
That's how much he's taxed just out of his super bowl bonus
Not his annual tax rate
His bonus for the super bowl is like $160,000 and he owes like $150,000

Yes they are bad with money but he has a degree in accounting i'm pretty sure lol

>>1082061
so... Cali and NJ just have super high separate tax rates for bs bonus earnings directly relating to the Superbowl?

>>1082068
No it has nothing to do with tax rates
regardless of whether he wins or loses he owes $160,000 for the year because of his other income

>>1082072
Yeah I didn't think so. Like I said before, the percentages come from win or lose superbowl earnings divided by full year tax dollars? Those tax dollars being STATE tax right? (paying cali) and then the 40% IRS is federal/income tax?

>>1081996

a 40% tax rate is pretty standard for the $500k+ a year crowd.

Meh, I don't feel sorry for them.

>>1082059
By asking that, clearly you did not read just fine and I'd advise a second read through including the additional article.

I found both answers within the article.