tsanuri
Registered User
As someone who works in accounting for entertainment, I'd be surprised if these guys paid the full tax hit they are subject to. Actors, producer, directors and writers don't even pay the "full taxes" on their income; usually they form loan-out corporations and just pay corporate taxes. I'd be shocked if there wasn't a similar tax loophole in sports.
As for the entertainment tax someone asked about, I don't think there is an entertainment tax, but that taxes in general were to high to originally shoot movies in Cali. But they just passed a tax break for filming in California recently, so production is coming back.
Anyone with a good tax accountant doesn't pay close to full taxes.
And any person making the kind of money they do should have a good tax accountant. And if they don't I not sure what to say.