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Started By
Message
re: Joe Burrow with $24 Million Signing Bonus
Posted on 7/29/20 at 10:02 am to PokeyTiger
Posted on 7/29/20 at 10:02 am to PokeyTiger
2020 Single Filer
Fed rate 37%
Ohio tax 5%
After tax = $24M X .58 = $13,920,000
He'll need a awesome CPA to get that down!
Fed rate 37%
Ohio tax 5%
After tax = $24M X .58 = $13,920,000
He'll need a awesome CPA to get that down!
5
Posted on 7/29/20 at 10:09 am to LSUBanker
quote:
He'll need a awesome CPA to get that down!
It's hard to hide ordinary income.
Posted on 7/29/20 at 10:15 am to LSUBanker
Plus Cincinnati 2.1% local tax.
Yeah, I'm the taxman
quote:
Do I have to pay the City tax? Do I have to file a return? What is the tax rate? Anyone who lives or works in Cincinnati is subject to the 2.1% income tax regardless of age or income level.
Yeah, I'm the taxman
Posted on 7/29/20 at 11:01 am to LSUBanker
Plus agent fees...10%?
Posted on 7/29/20 at 11:57 am to LSUBanker
quote:
2020 Single Filer Fed rate 37% Ohio tax 5% After tax = $24M X .58 = $13,920,000 He'll need a awesome CPA to get that down!
Yeah..... I’m not going to feel sorry for him if he can’t “get that down”.
14 million on top of his salary? He should be able to walk away from football anytime he wants and the next 4 generations of his family could never work a day in their life if they didn’t want to.
Posted on 7/30/20 at 9:44 am to LSUBanker
quote:
After tax = $24M X .58 = $13,920,000
He might as well move back in with his parents.
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