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Road to BakuSlam Megathread
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You know what I thought was weird about the taxes? On the factsheet for the US ITFs I looked it, it states
Tax deductions:30% (10% for Canadians for prize money up to $5,000) Thought it was weird Canadians get a discount that not even locals get. Even from the deducted prize money a US tennis player will still have to pay income tax, no? |
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No. Isn't that the income tax already paid.
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US tax rules are stupid. Where like literally everything is taxable.
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So tennis players don't move to Monaco and Florida because of taxation of prize money, but to get taxed less on any other money they might make from endorsements?
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Surely they still have to pay income tax on their prize money in their residential country
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Yer. I am sure tax issues are heavily complicated in tennis. There will be various tax treaties in place with your country of residence and the countries your playing in to lower your tax.
Plus you will be able to make all kinds of deductions (expenses). |
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There has to be some benefit on your playing income to move to tax havens. Safarova is living in Monaco, she probably doesn't make more than $250k off court. So there has to be some other benefit to it.
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a cool marina in front of your door
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I have a feeling that most players aren't paying any tax in the US to US authorities, providing their home country has a tax treaty with US, which most countries do.
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The US ITF sheet will be listed like that as most players in it will be from US.
But I think there's some things you have to fill out, and you can get that 30% withheld back. There are probably ways to stop it being deducted in the first place if you have consulted the right people in advance. |
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USA is one of the few countries if only country in the world where they tax you even if leave the USA (something I've never known how they even do tbh).
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Only once you earn over a certain threshold, then you still have to pay federal income tax as long as you want to keep your US citizenship.
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it's at 90.000 or so a year iirc
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But how they make you pa that I don't know. Might not let you back into the country if you don't pay
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I have no idea how someone like Vika's tax would work. Lives most of the year in USA, is not a US citizen, has residency in Monaco.
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residency, no?
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Yer I guess so. But do USA let her live there for a lot of the year at no tax?
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Jon Wertheim @jon_wertheim 3m
Not sure mentioned on broadcast but reliable source tells me: Atlanta Police Officer courtside during changeovers for Dudi Sela's matches |
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though if they wanted to pee on her they could probably be all "You sure Monaco is your residency? Not Texas where you should be paying your taxes?"
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In the UK, not sure if this is only for UK citizens, but if you don't have residency in the UK, you can only live here for a maximum of 90 days.
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I have no idea on USA though.
I assume someone like Sharapova is paying tax in the USA. Her residency is in the USA right? |
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isner choking
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what time is it?
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too late
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It's GSM Isner time.
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yeah, at this point I very much doubt the Tel Aviv tournament will happen.
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look at this mug
struggled vs ginepri eventual winner lol he made a meal out of that match |
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Isner loves himself a proper grind at times
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That's standard for Isner. He's had a very easy draw too. Has he played a top 50 player this week?
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no he hasn't. Matosevic at 52 was his highest ranked opponent
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Wozniak getting owned
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Vickery took a MTO yesterday at 5-4*. Hasn't looked back ever since
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What I wonder if someone like Sharapova (and Serena) if they are doing the same thing that was reported as sports stars in the UK were doing. You wouldn't be able to do it for prize money. But sponsorship money, have they set up some thing in eg. the Cayman Islands so they effectively pay no tax.
In UK they are trying to stamp down on this by making it harder to do, because football clubs were helping players do it, by eg. say Wayne Rooney when he signs a contract, he'd have 2 contracts, 1 where they pay him say £50k a week to be a Man Utd player, then pay him £200k a week for his image rights that goes to some account in an offshore tax haven (I've invented the amounts, no idea on that sort of detail). In theory you could do this with sponsorship endorsements you would think. |
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Didn't it come out a while ago that Nadal was doing something that sounded like that.
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Sounds like Manchester United is a really lame and uncool team
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That was/is going on a lot. I am sure lots of tax loopholes are out there that are being exploited.
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You could deem sponsorship money to be "image rights" I would think, given that's basically what sponsors are paying you for.
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