Re: Quinton Patton signs with the Jets
QP has had injuries and no QB. Hope he can find right offense /QB. I am huge fan but not surprised at all SF rebooting whole team-- QP hung pretty tight with Kap ( remember the Miami thing his freshman year) -- agree with everyone -- it's make or break
Re: Quinton Patton signs with the Jets
Now we just have to pray Henderson doesnt end up in SF (met with them last week).
Re: Quinton Patton signs with the Jets
Quote:
Originally Posted by
DJDAWG
Does anyone know the taxes he'll have to pay in NY? With Fed, State and City tax combined, it's gonna be bad, real bad.
Quote:
Originally Posted by
HogDawg
State Income Tax Brackets - New York
$79,600 - $212,500 |
6.65% |
$212,500 - $1,062,650 |
6.85% |
$1,062,650+ |
8.82% |
So here's how far 775K will go in NYC:
$ 775,000
<271,250> 35% Fed Tax Rate (assuming he has a few writeoffs)
< 53,088> NY State Tax Rate
<155,000> 20% commission Fee to his sports agent (this is purely a guess!)
$ 295,662 NET
So a player would have about
295K left over for all living expenses, travel expenses, child care, expensive tolls and parking in NYC, etc...
Isn't California, and San Fran in particular, more costly than New York? I know apartment costs in San Fran are supposed to be more than even NYC now. I bet the tax rate is possibly even higher there too
Re: Quinton Patton signs with the Jets
In the mid 90s New York has the highest by far for professional athletes. It has been a long time since I looked into that though. At one point NY taxed visiting professional athletes a pro rata basis for their time playing professional sports in New York....as a member of a visiting team.
Re: Quinton Patton signs with the Jets
Quinton Patton signed a 1 year, $825,000 contract with the New York Jets, including a $25,000 signing bonus, $25,000 guaranteed, and an average annual salary of $825,000. In 2017, Patton will earn a base salary of $775,000, a signing bonus of $25,000 and a roster bonus of $25,000, while carrying a cap hit of $665,000 and a dead cap value of $25,000.
http://www.spotrac.com/nfl/new-york-jets/quinton-patton-12409/
Re: Quinton Patton signs with the Jets
Some good info here. NY Giants and Jets players pay NJ taxes. It's a little lower than NY, but still very high. Also they pay the "jock tax", taxes from playing at visiting team's state.
As high earners, NFL players face top tax rates at the federal and local level. In some places, these marginal rates exceed 50%.
But it doesn’t end there. In addition to paying taxes to the IRS and their home team’s state, many professional football players have to pay taxes to every single state in which they play a game, the so-called “jock tax.” That can mean filing as many as 10 different tax returns and coughing up as much as 50% of their salary and bonuses in taxes.
New York Giants
New York City has some of the highest taxes in the country, with marginal rates reaching 12.7% when including both the state income tax and city income tax. The good news for players on the Giants: they don’t actually play (or practice) in New York. The Giants’ stadium and practice facility are located in New Jersey.
Instead of paying New York taxes, Giants players face the moderately lower tax burden of the Garden State. That means that Jason Pierre Paul and Eli Manning (the top two earners on the Giants for 2015) pay a “mere” 46.6% of their NFL income in taxes, instead of the over 50% rate they would pay in NYC. (Note: Our analysis was done before JPP’s newest and smaller contract.)
New York Jets
The Jets, like the Giants, save their players a fairly substantial sum of tax dollars by playing in New Jersey rather than the city of New York. If, for example, the Jets played in Queens, they would face a top state and city tax rate totaling 12.7%.
Re: Quinton Patton signs with the Jets
Quote:
Originally Posted by
HogDawg
No thanks. I can find a lot of ways to make 23K faster than that.
How many hrs did his agent spend to make that 23K? I can't make that kind of money that fast. He probably spent 30-40 hrs total on it.
Re: Quinton Patton signs with the Jets
Quote:
Originally Posted by
louisiana_dog
How many hrs did his agent spend to make that 23K? I can't make that kind of money that fast. He probably spent 30-40 hrs total on it.
I've made that kind of money in mere seconds. It's easy.
Re: Quinton Patton signs with the Jets
Quote:
Originally Posted by
dawg80
I've made that kind of money in mere seconds. It's easy.
I'm jealous if you're being truthful. Stock exchange?
Re: Quinton Patton signs with the Jets
Re: Quinton Patton signs with the Jets
Quote:
Originally Posted by
Bearpaw
I'm jealous if you're being truthful. Stock exchange?
....or did he cash that check from the son of the Sultan of Zaire that he inherited by just sending in a check for $500 to cover handling charges?
Re: Quinton Patton signs with the Jets
Quote:
Originally Posted by
Bearpaw
I'm jealous if you're being truthful. Stock exchange?
Yes. And most often in penny stocks.
I have lost $2,000-3,000 in mere seconds too. But the "wins" far out-weigh the losses.
Re: Quinton Patton signs with the Jets
Just saw where QP has an undisclosed injury and will not suit up for the jets in 2017.
My apologies if this has already been mentioned.
Re: Quinton Patton signs with the Jets
Quote:
Originally Posted by
DawgyNWindow
Just saw where QP has an undisclosed injury and will not suit up for the jets in 2017.
My apologies if this has already been mentioned.
I believe he received an injury settlement and was released a month or two ago.
Re: Quinton Patton signs with the Jets
Quote:
Originally Posted by
RhythmDawg
I believe he received an injury settlement and was released a month or two ago.
http://www.nfl.com/news/story/0ap300...njured-reserve