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sports & tax

Whoa, Cowboy: Tax Laws May Make Romo Highest Paid NFL Player

4 April 2013

Tweet Who had the best holiday weekend? Looks like it might have been Dallas Cowboys quarterback Tony Romo, who signed a 6-year $108 million contract extension. Jerry Jones, Cowboys owner, president and general manager said about the signing: In today’s game, every NFL franchise understands the importance of production and continuity at the quarterback position, [...]

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Former NFL Star Pleads Guilty In Tax Fraud Case

8 March 2013

Tweet Former Philadelphia Eagles wide receiver Freddie Mitchell never got that Super Bowl ring he wanted, despite making an appearance in Super Bowl XXXIX, but he did land in some super trouble. Today, Mitchell pleaded guilty in federal court Friday to charges related to tax fraud. Mitchell was scheduled to go to trial on the [...]

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Pacquiao Balks At Vegas Fight, Claims Taxes Are Too High

12 February 2013

Tweet (Update: A reader sent an email last night suggesting that Pacquiao’s manager’s tax calculation of $10 million was too high since all of Pacquiao’s income would not be taxed at the highest tax rate. To clarify, that is correct since we have a progressive tax system (and, as was pointed out to me in [...]

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Pay Taxes On Your Super Bowl XLVII Winnings? You Can Bet On It

3 February 2013

This year, you can bet on everything from the winning team to who will score first and which Harbaugh brother – or both – will sport a cap during the game. What does all of this mean come tax time?

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Despite Headlines, Michael Vick Making a Financial Comeback

4 October 2012

Tweet Michael Vick’s troubled days may be over (if you don’t count his turnover problems this season) but he’s apparently still fodder for the tabloids. The gossip site, TMZ.com blasted the Eagles quarterback with this headline: “Michael Vick: I’ve Spent $29 MILLION In Four Years.” The inflammatory headline was meant to make readers think that [...]

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It’s Possible That U.S. Olympic Medalists Won’t Actually Pay Tax On Winnings, Exempt or Not

10 August 2012

Tweet I’ll confess: I’m still on an Olympic tear at my house. My family and I have watched the end of the USA/Japan women’s soccer match three times. Yes, three. I’m not proud. We just really love soccer. And the Olympics. But as we watched the medal ceremony, I was reminded of all of the [...]

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President Obama Supports Tax Exemption for Olympic Athletes

6 August 2012

Tweet Even President Obama has Olympic fever, it seems. That’s the only plausible explanation for the latest word that the President is throwing his support behind a proposal to exempt U.S. Olympians from taxes on their awards. The President is responding to a measure which, as I previously blogged, had been introduced by Sen. Marco [...]

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Going For Tax-Exempt Gold: Bill Introduced to Eliminate Tax on Olympic Medals

2 August 2012

Tweet I love the Olympics. I make no apologies. I love the whole spectacle from the tacky opening ceremonies to the lovefest that is the closing ceremonies. I’ve perched on the edge of my sofa, hoping for Michael Phelps to make history (even though the tape delay and CNN meant that I already knew) and [...]

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Olympians Get a Free Pass on Taxes at the London Games

28 July 2012

Tweet Okay, best part of the 2012 Olympics so far? I say David Beckham in a speedboat because David Beckham in anything is always going to win. My kids say the giant Voldemort puppet because, well, puppets. But the Olympians? I’m guessing it’s a toss-up between marching in the opening ceremonies and the giant tax [...]

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Saban Suggests Penn State Tickets Should Be Taxed To Pay For Scandal

20 July 2012

Tweet “The most powerful coach in college football” has weighed in on the Jerry Sandusky child abuse scandal. Nick Saban, coach of the Alabama Crimson Tide spoke out about the scandal yesterday, suggesting that an additional tax on ticket sales might be appropriate part of any resolution for Penn State University. He didn’t offer specific [...]

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