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re: When $35M is really $15M: How much NBA stars actually earn
Posted on 9/19/17 at 11:50 am to SlowFlowPro
Posted on 9/19/17 at 11:50 am to SlowFlowPro
What a dumb frick
0
Posted on 9/19/17 at 11:57 am to SPEEDY
How terrible that must be. 
Posted on 9/19/17 at 12:01 pm to cgrand
quote:But they should shut up and just play
$15MM a year in income taxes
Posted on 9/19/17 at 12:10 pm to SlowFlowPro
Floyd likes Trump so he's not down with the cause.
Posted on 9/19/17 at 12:25 pm to SPEEDY
The NBA 401k is pretty legit. It looks like they're matched in the neighborhood of 180% on their contributions - essentially $9 match for every $5 contributed by the players.
It also looks like most of the players contribute the maximum allowed under the IRS, at least based on the Form 5500 for the plan.
It also looks like most of the players contribute the maximum allowed under the IRS, at least based on the Form 5500 for the plan.
Posted on 9/19/17 at 12:33 pm to slackster
15MM base intake is pretty damn good considering the amount of money they rack in endorsements.
Posted on 9/19/17 at 12:42 pm to 50_Tiger
quote:
15MM base intake is pretty damn good considering the amount of money they rack in endorsements.
Well you also have to consider that that's the take-home for some of the very top paid guys in the league. Rank and file guys like, say, David Lee, aren't living quite that large, nor do they have the endorsement boon.
So, they're not paupers by any stretch, but those that aren't careful it's easy to see why so many run out of money with a quickness.
Posted on 9/19/17 at 12:51 pm to SPEEDY
So unlike the rest of us, this doesn't even include medical expenses, medical insurance, etc? So they get all of those for free for themselves and their families? 
Posted on 9/19/17 at 1:07 pm to SPEEDY
But I've always heard the rich don't pay taxes.
Posted on 9/19/17 at 1:17 pm to TxWadingFool
quote:
But I've always heard the rich don't pay taxes.
Really rich people don't have jobs.
Posted on 9/19/17 at 1:21 pm to 50_Tiger
quote:Yeah. Durant, Lebron, Leonard, Kyrie, Curry, Harden, Lillard and the other bigger stars don't even spend their salary money. They all live off endorsements
15MM base intake is pretty damn good considering the amount of money they rack in endorsements.
Posted on 9/19/17 at 1:23 pm to SPEEDY
Someone explain this to me. Harden has that he pays 600k+ in State income taxes, but Texas doesn't have any state income taxes. Do players have to pay state income taxes for road games or am I missing something?
Posted on 9/19/17 at 1:24 pm to TbirdSpur2010
quote:A million a month isn't a whole lot of money, relatively speaking. You can burn through that fast, very fast. Look up the video of Shaq telling the story of how he spent a million in a day just on cars.
So, they're not paupers by any stretch, but those that aren't careful it's easy to see why so many run out of money with a quickness.
Posted on 9/19/17 at 1:24 pm to lsufball19
quote:I think those comes from the states he earned the money in. The Jordan tax rule if you will
Someone explain this to me. Harden has that he pays 600k+ in State income taxes, but Texas doesn't have any state income taxes. Do players have to pay state income taxes for road games or am I missing something?
Posted on 9/19/17 at 1:31 pm to MontyFranklyn
quote:
I think those comes from the states he earned the money in. The Jordan tax rule if you will
So basically if they have a road game in LA, they will deduct California state income taxes from that game check? That's just odd to me. If my job has me travel to another state for work, I don't get state income taxes from that state deducted from my salary. I work in TN btw, so no state income taxes here either
This post was edited on 9/19/17 at 1:33 pm
Posted on 9/19/17 at 1:31 pm to lsufball19
quote:
Do players have to pay state income taxes for road games
Yes.
Posted on 9/19/17 at 1:32 pm to MontyFranklyn
quote:
million a month isn't a whole lot of money, relatively speaking.
Depends on your personal overhead, but yeah, a million dollars doesn't go as far as you think when you break it down.
Posted on 9/19/17 at 1:32 pm to SPEEDY
I'll gladly trade incomes with them.
Posted on 9/19/17 at 1:34 pm to AUCE05
quote:
I'll gladly trade incomes with them.
I'd gladly just trade their 401k earnings
Posted on 9/19/17 at 1:56 pm to SPEEDY
I'm actually really surprised that these stars get taxed at similar rates as I do.
Next topic: when making $85k a year is more like making $50k.
Next topic: when making $85k a year is more like making $50k.
This post was edited on 9/19/17 at 2:15 pm
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