Hate her because she’s beautiful and rich.
Supermodel Gisele Bundchen of Brazil topped Forbes.com’s 2007 list of The Top Earning Models in the World with a whopping $33 million earnings last year. Even more surprising, Kate Moss came in second at a “paltry” $9 million – a pretty impressive differential.
Estimates as to Gisele’s US tax bill vary. Gisele was born in Brazil but currently boasts residences around the world, including a posh New York apartment. She pulls in money from several sources, including at least six major ad campaigns. Two of those ad campaigns are with US companies: Limited Brands, which owns Victoria’s Secret, for which Gisele earns approximately $5 million/year and Apple Computer, who signed a multi-million dollar contract with Gisele in 2006. She has also appeared in campaigns for American designers Michael Kors and Ralph Lauren.
Foreign citizens may still be taxed as US residents depending on a number of factors, such as length of residency and nature of employment. If a foreign citizen is taxed as a US resident, that taxpayer must report and pay tax all worldwide income (there are credits for taxes paid to other countries). In other words, if Gisele is taxed as a US resident, she must report all $33 million in income, whether earned in the US or not. On the other hand, if she is taxed as a non-resident, she must report all income earned from US sources.
All that said, Gisele’s tax bill will likely take a dip next year when Gisele’s income dips: her contract with Victoria’s Secret is ending.
