I've also read somewhere, some away games are taxed by the city where the game is played, for the amount of one game's pay. It that true? And, I wonder how that affects their tax in their home city/state.
Bottom line. It seems most NFL players are not set up for life from their salaries.
HD,
Keep a couple of things in mind. There is a city income tax in New York City that would reduce this income even more. However, the NFL limits agent commissions on league salaries to 3%. An agent can earn a higher percentage on endorsement deals. I suspect Quinton will live in New Jersey near the team's facility.
Commission Limits
"An agent’s commission varies, based on the sport he represents. Generally, a sports agent earns between 4 and 10 percent of an athlete’s playing contract, though some leagues place limits on what percentage an agent can charge in commission. For example, the National Football League states that an agent can't receive more than 3 percent of player salaries. The National Basketball Association places the limit at 3 percent too. Major League Baseball and the National Hockey League don't have any limits on agent commissions, however.
The commission of $155,000 and any state income tax are deductible expenses in calculating federal tax.
Jet will not be competitive for at least another 2-3 years. There are so many holes in both sides of the ball for them.
If true, this is a real surprise. Frankly, I don't know why anyone would even bother representing a player like Patton making the NFL minimum (of course we are making an assumption on his salary here.) You're saying the agent would only be paid $23,250 (3%) on a 1-yr contract worth 775K? That's terrible money. By the time an agent negotiates the deal, hires (or pays the lawyer) to draw up the contracts and revise 'em a few times, and then picks up a few dinner and travel expenses --that agents typically absorb-- this could be minimum wage work.
No thanks. I can find a lot of ways to make 23K faster than that.
Here's the location of the facilities. None are in NYC 5 boroughs (Manhattan, Bronx, Brooklyn, Queens, Staten Island). Giants HQ is next to MetLife Stadium.
I was up there last Dec for work, the area of Morristown, NJ is really nice.
nyc_nj.jpg
My bad on the Big Apple reference. I do like the idea of White and Patton being reunited on the Jets roster though.
Have you considered those Dogs?
WWDog
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