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MusicaEsLivida

By MusicaEsLivida
in Toronto Blue Jays Talk

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Sammy225 FCL Blue Jays

Sammy225

Old-Timey Member
Posted
Posted
Hi-You All-Long time reader.First time poster.I'm not much of a talker.I just like to get an opinion you wouldn't get elsewhere

But I got two cents here.Honestly the time to sign EE was last spring.They chose to gamble and lost.What would he have cost last spring.You will see him in another teams jersey on opening day.That is the way it goes.But that's not the way it had to go.Thanks Shapiro for playing craps with our star player.

 

So in theory we likely should have signed JB to a long term extension last spring too which right now would be looking like...... What do you call it????? s***!

 

Bat only guys are a high risk and i still would not sign him to any more of the 4/80.

wamco Draft Eligible

wamco

Verified Member
Posted
Posted
Not how it works. I believe you pay your state tax based on residency where you live 6 months of the year. No surprise spring training is in FL and AZ. The season is literally 1 day shy of the threshold and even so your home games don't total 6 months. I think you also pay some tax per game so you pay to each state through the year but it's a far cry from 30% of guaranteed contract. It's a big misconception and why many players have their primary home of residence in AZ or FL.

 

Edit:. Also I don't know where you came with 25-30%? US federal tax is 40%, Canada's is 33%+13% for Ontario. It's a 6% difference between ours and a tax free state.

 

My income tax via state income tax plus federal income tax is like 25 percent, not 40 percent. And then factoring what I get back in taxes, it's more like 13 percent.

Governator Vancouver Canadians

Governator

Community Moderator
Posted
Posted
My income tax via state income tax plus federal income tax is like 25 percent, not 40 percent. And then factoring what I get back in taxes, it's more like 13 percent.

 

Well that's because you're not rich

ensco Prep Ball

ensco

Verified Member
Posted
Posted

There are blogs you can google that claim that the tax difference is barely anything, but they never give you the math they are using.

 

First of all, the difference between a 46% tax rate and a 40% tax rate in dollars paid is 15%, not 6%.

 

Secondly, high income earners in places like Florida have tremendous deductions that aren't available in Canada (mortgage interest, and lots of other things)

 

I may have overstated it. This article shows it being $2.6M in tax, vs $2.2M, or about 18%, for Josh Johnson in 2012, but I think it increase at higher levels

 

http://www.forbes.com/sites/kurtbadenhausen/2012/11/14/traded-marlins-players-will-take-2-million-tax-hit-in-canada/#4e87b7a3b2f1

Eye_corn Prep Ball

Eye_corn

Verified Member
Posted
Posted
Maybe...but you could say that they gambled and won with not signing Bautista in the spring too.

 

Hindsight is....what do they say......20/20?

 

P.S. Welcome to the site.

Yes true enough.But did they under estimate him.

Batista was the "Cocky" you Got my number guy.No one was upset about that.

EE never made any demands

Captain Adama FCL Blue Jays

Captain Adama

Old-Timey Member
Posted
Posted
Yes true enough.But did they under estimate him.

Batista was the "Cocky" you Got my number guy.No one was upset about that.

EE never made any demands

 

Not publicly.

Eye_corn Prep Ball

Eye_corn

Verified Member
Posted
Posted
I'm just glad he never scratched his butt when he was rounding the bases or they would have sold shirts with hemorrhoids on them.
Governator Vancouver Canadians

Governator

Community Moderator
Posted
Posted
There are blogs you can google that claim that the tax difference is barely anything, but they never give you the math they are using.

 

First of all, the difference between a 46% tax rate and a 40% tax rate in dollars paid is 15%, not 6%.

 

Secondly, high income earners in places like Florida have tremendous deductions that aren't available in Canada (mortgage interest, and lots of other things)

 

I may have overstated it. This article shows it being $2.6M in tax, vs $2.2M, or about 18%, for Josh Johnson in 2012, but I think it increase at higher levels

 

http://www.forbes.com/sites/kurtbadenhausen/2012/11/14/traded-marlins-players-will-take-2-million-tax-hit-in-canada/#4e87b7a3b2f1

 

 

 

I get what you were saying, it's just your numbers were off. If we considered everything being even (which it's not):

 

$100MM x 0.40 = $40MM in taxes

$100MM x 0.46 = $46MM in taxes (15% increase)

 

$6MM doesn't equal $25MM:

 

If EE is offered 5/100 from Texas or Miami, Jays need to be at 5/125 or something to match
ensco Prep Ball

ensco

Verified Member
Posted
Posted
I get what you were saying, it's just your numbers were off. If we considered everything being even (which it's not):

 

$100MM x 0.40 = $40MM in taxes

$100MM x 0.46 = $46MM in taxes (15% increase)

 

$6MM doesn't equal $25MM:

 

Sorry that's not quite right. Using you numbers (15%), to get EE $60M after tax in Toronto means you have to pay him $111.1M

 

If the number is 46% in Canada vs 35% in Florida (which is closer to reality, based on deductions), then to get EE $65M in Toronto you have to pay him $120M, ie 20% more.

 

This got a lot of press when the Leafs were going after Stamkos. There is a major difference, I don't see the controversy anywhere else.

Governator Vancouver Canadians

Governator

Community Moderator
Posted
Posted
Sorry that's not quite right. Using you numbers (15%), to get EE $60M after tax in Toronto means you have to pay him $111.1M

 

If the number is 46% in Canada vs 35% in Florida (which is closer to reality, based on deductions), then to get EE $65M in Toronto you have to pay him $120M, ie 20% more.

 

This got a lot of press when the Leafs were going after Stamkos. There is a major difference, I don't see the controversy anywhere else.

 

 

US Federal Tax for anyone making > $415K/yr is 39.6% (hence the 40%). Florida doesn't get to avoid paying the government 5%, if they hide the money, move the money, write off expenses, etc. the same can be done anywhere with a quality accountant.

 

 

The thing is your permanent home residency matters that is being overlooked.

 

Kershaw's home residence is Texas to avoid LA taxes: http://www.accountingweb.com/tax/irs/clayton-kershaw-saves-millions-in-taxes-thanks-to-texas

 

Here is McCutchen's paystub, just look at all the state taxes he has to pay out based on where each game is played, he doesn't just pay 3% Pennsylvania State tax.

 

http://i.imgur.com/TyrGObW.jpg

ensco Prep Ball

ensco

Verified Member
Posted
Posted

State taxes are deductible from federal taxes in the US. The paystub doesn't really tell the story.

 

Anyway, we are being boring. I think it matters, you don't, agree to disagree, cheers.

Spanky99 GOAT

Spanky99

Old-Timey Member
Posted
Posted

Relevant...

 

http://m.mlb.com/news/article/209175734/edwin-encarnacion-blue-jays-return-less-likely/

 

"It makes things slightly less likely for Edwin, but doesn't impact us on Jose in any way," Atkins said when asked about the implications of Morales' deal. "We still feel that both are realistic for us, but when you sign someone like Kendrys Morales, that does decrease the likelihood of Edwin coming back to the Blue Jays. But it by no means eliminates that possibility."

 

"We would love to have Brett Cecil back, is what I can tell you," Atkins said. "We feel confident that he's a great piece to this team and has been for a while. We'll do what we can to ensure that he comes back. We just have to focus on the best way to build the best possible team."
Spanky99 GOAT

Spanky99

Old-Timey Member
Posted
Posted
I posted the article in another thread. I got a good chuckle at the part where it says the Jays could consider playing Morales in the outfield rofl

 

That's absurd, lol. We should get Napoli for that... :P

Pendleton Vancouver Canadians

Pendleton

Old-Timey Member
Posted
Posted
Oh f***... Damn Yankees!!! Just read they are targeting EE... I am gonna puke seeing him in a Evil Empire uniform!

 

f*** ME!!! Nooooooooooooooooooooooo

 

Yeah that would be a sight for sore eyes, would hate to see him in pinstripes. The potential silver lining - maybe EE doesn't help put them over the top or declines and instead the Yankees delay their retool by giving us a 1st and have big money wrapped up in an aging DH.

Krylian MVP

Krylian

Old-Timey Member
Posted
Posted
Oh f***... Damn Yankees!!! Just read they are targeting EE... I am gonna puke seeing him in a Evil Empire uniform!

 

f*** ME!!! Nooooooooooooooooooooooo

 

Meh. If they wanna outbid everyone then so be it.

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