BringBackFergy Posted March 11, 2016 Posted March 11, 2016 Johnny could make millions directing/producing/starring in a "Hey Rookie - Don't Do This" video for the NFL Rookie Symposium.
26CornerBlitz Posted March 11, 2016 Posted March 11, 2016 @bustedcoverage Never forget Cleveland's reaction to drafting Manziel https://video.twimg.com/ext_tw_video/708334391018201088/pu/vid/640x360/LJyBmUO8zgGj80DY.mp4 @NFL_CFB First-round picks since 2000 released by drafting team after 2 seasons: CLE Manziel CLE Weeden PHI Watkins BUF Maybin BUF Flowers
BuffaloBill Posted March 11, 2016 Posted March 11, 2016 He made s riots money for nothing. Hope he cleans up his act and moves on.
Doc Posted March 11, 2016 Posted March 11, 2016 On 3/11/2016 at 4:42 PM, Best Player Available said: dan Patrick speculating there won't be much interest. Since he may be suspended for his behavior. If you think Shady will be suspended over an inconclusive video, Goof's a shoo-in to be suspended.
hondo in seattle Posted March 11, 2016 Posted March 11, 2016 What are the chances he never plays again? Personally, I think they're small. But if it did work out that way - what a great cautionary tale for the NFL's future instant millionaires.
aristocrat Posted March 11, 2016 Posted March 11, 2016 8 million bucks to do almost nothing. I'm sure his trust has him very tax efficient so I doubt he paid very much in taxes. I do wonder if he ever gets back in the game.
26CornerBlitz Posted March 11, 2016 Posted March 11, 2016 @RapSheet Here is a statement from Johnny Manziel, via his publicist, on being waived by the #Browns today
KD in CA Posted March 11, 2016 Posted March 11, 2016 On 3/11/2016 at 6:10 PM, aristocrat said: 8 million bucks to do almost nothing. I'm sure his trust has him very tax efficient so I doubt he paid very much in taxes. I do wonder if he ever gets back in the game. What kind of trust can shelter ordinary earned income from federal & state income taxes? NFL players typically pay 40~50% in taxes.
apuszczalowski Posted March 11, 2016 Posted March 11, 2016 On 3/11/2016 at 5:12 PM, BringBackFergy said: Johnny could make millions directing/producing/starring in a "Hey Rookie - Don't Do This" video for the NFL Rookie Symposium.his new nickname could be Johnny Don't, then they could get someone squeaky clean to be the one who does everything safe and right
KD in CA Posted March 11, 2016 Posted March 11, 2016 On 3/11/2016 at 7:31 PM, apuszczalowski said: his new nickname could be Johnny Don't, then they could get someone squeaky clean to be the one who does everything safe and right If only there was some other out-of-work QB who was over-hyped as much as Manziel except he had the complete opposite personality/behavior. Maybe a nice Christian boy who didn't drink, smoke or chase women. Hmmmm.......
aristocrat Posted March 11, 2016 Posted March 11, 2016 On 3/11/2016 at 7:29 PM, KD in CT said: What kind of trust can shelter ordinary earned income from federal & state income taxes? NFL players typically pay 40~50% in taxes. write offs. I'm sure the family has it set it up in an intelligent way. I'd bet he's paying closer to 0 then 50
Best Player Available Posted March 11, 2016 Posted March 11, 2016 On 3/11/2016 at 6:01 PM, Doc said: If you think Shady will be suspended over an inconclusive video, Goof's a shoo-in to be suspended. me thinks he is out of the league actually. Watch him spiral out of control now. Well after the Browns write the 2 mil check he is guaranteed.
KD in CA Posted March 11, 2016 Posted March 11, 2016 On 3/11/2016 at 7:37 PM, aristocrat said: write offs. I'm sure the family has it set it up in an intelligent way. I'd bet he's paying closer to 0 then 50 It doesn't matter how intelligently you set anything up. Football players earn money as individuals, they can't avoid paying individual income taxes.
aristocrat Posted March 11, 2016 Posted March 11, 2016 On 3/11/2016 at 7:42 PM, KD in CT said: It doesn't matter how intelligently you set anything up. Football players earn money as individuals, they can't avoid paying individual income taxes. so you're saying there's no way for an individual to lower what they owe in taxes?
dpberr Posted March 11, 2016 Posted March 11, 2016 He will sit out this year whether he likes it or not. No NFL team is going to touch him, especially with the specter of possible domestic violence. He has that year to clean himself up and get healthy. (e.g. stop being a drunk)
3rdand12 Posted March 11, 2016 Posted March 11, 2016 On 3/11/2016 at 8:00 PM, aristocrat said: so you're saying there's no way for an individual to lower what they owe in taxes? Johnny wisely dumped his whole salary into his 401k. he is thinking long term
boater Posted March 11, 2016 Posted March 11, 2016 On 3/11/2016 at 7:37 PM, aristocrat said: write offs. I'm sure the family has it set it up in an intelligent way. I'd bet he's paying closer to 0 then 50 You don;t even know what a write off is.
KD in CA Posted March 11, 2016 Posted March 11, 2016 On 3/11/2016 at 8:00 PM, aristocrat said: so you're saying there's no way for an individual to lower what they owe in taxes? No, I didn't say anything close to that. I'm saying that assuming a guy made $8MM and paid very little in taxes is misguided. I'm asking how you came to such a conclusion. If it was that easy to duck taxes, why doesn't every player (and every other person in the country with a high salary) do so? Yes there are certain things an NFL player can deduct from his AGI (agent fee, union dues, cost of tax prep, etc.), but that's a small dent when you hit the 35% federal bracket, plus state taxes, city/county/local taxes, FICA, etc. Tax shelters are typically what you use to protect your earned (and taxed) income from being further taxed on investment gains, etc. There are numerous article you can read on the subject. Here's one that includes an estimate of what the top NFL tax payers pay (congrats Phillip Rivers!) https://smartasset.com/taxes/nfl-jock-taxes
DC Tom Posted March 11, 2016 Posted March 11, 2016 On 3/11/2016 at 8:46 PM, KD in CT said: No, I didn't say anything close to that. I'm saying that assuming a guy made $8MM and paid very little in taxes is misguided. I'm asking how you came to such a conclusion. If it was that easy to duck taxes, why doesn't every player (and every other person in the country with a high salary) do so? Yes there are certain things an NFL player can deduct from his AGI (agent fee, union dues, cost of tax prep, etc.), but that's a small dent when you hit the 35% federal bracket, plus state taxes, city/county/local taxes, FICA, etc. Tax shelters are typically what you use to protect your earned (and taxed) income from being further taxed on investment gains, etc. There are numerous article you can read on the subject. Here's one that includes an estimate of what the top NFL tax payers pay (congrats Phillip Rivers!) https://smartasset.com/taxes/nfl-jock-taxes And they get taxed in multiple jurisdictions, usually under arcane and byzantine rules. Cam Newton paid an effective 200% tax rate on his Superbowl bonus, because of how California calculates taxes.
apuszczalowski Posted March 11, 2016 Posted March 11, 2016 On 3/11/2016 at 7:37 PM, KD in CT said: If only there was some other out-of-work QB who was over-hyped as much as Manziel except he had the complete opposite personality/behavior. Maybe a nice Christian boy who didn't drink, smoke or chase women. Hmmmm....... that would work if he wasn't run out of the league like he had leprosy, if he was still playing I would agree, cause right now Timmy Do's career isn't much more successful then Johnny Don'ts
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