Around the League - 2024-2025

[Dekes For Days]

This is not accurate. That's not how you calculate what each pays in taxes.

 

[MCR74]

If Sens dont' make the playoffs this year, I can gurantee you Tkachuk is going to end up in NY
No way he's going waste his game in Ottawa

He's built for NY

I thought he was built for the playoffs. That's what Sens fans told me.

 

[Stephen]

Still annoyed that the ducks helped NY with the Trouba contract. Wings had to pay a 2nd to unload Walman. Isn't trouba making 8M? Damn man

I think Anaheim is banking on making a Sean Monahan type deal later this year or next, retention at 50% to Trouba's next team with a nice haul in return, basically turning Urho Whatshisname and a mid round pick into a first, second, bluechipper or whatever it turns out to be.

 

[Stephen]

If Sens dont' make the playoffs this year, I can gurantee you Tkachuk is going to end up in NY
No way he's going waste his game in Ottawa

He's built for NY

I dunno if there's anything particularly New York about Brady Tkachuk. His personality seems to be Matthew's annoyingness without the grin screw charm or intelligence.

 

[PROUD PAPA]

A rare defensive clinic by the Avs tonight and against a strong offensive team in New Jersey.

 

[ULF_55]

This is not accurate. That's not how you calculate what each pays in taxes.

Of course not, but income tax free States give the accountant a head start.

State income taxes do impact take home income.

 

[Nineteen67]

Of course not, but income tax free States give the accountant a head start.

State income taxes do impact take home income.

State income tax is withheld on paychecks.

 

[ULF_55]

State income tax is withheld on paychecks.

Yeah, but it isn't straight forward with multiple addresses and income earned in different locations.

 

[BallardEra]

Devils shutout 4-0 by the Avs.

Tuesday night should be interesting. Devils mediocre at home and Leafs mediocre on the road.

 

[Dekes For Days]

State income taxes do impact take home income.

They do, but not to the extent that is being claimed there.

 

[Evilhomer]

They do, but not to the extent that is being claimed there.

People love to harp on this tax thing, despite player agents confirming that it makes little to no difference because of tax strategies available to high-earners, because it feeds into the "woe is us" complex.

 

[Fogelhund]

Juan Soto has agreed to a 15-year, $765M contract with the New York Mets.

That’s 51 mil a year, for 15 years. Yikes. Over half a NHL salary cap, for one baseball team.

 

[ULF_55]

People love to harp on this tax thing, despite player agents confirming that it makes little to no difference because of tax strategies available to high-earners, because it feeds into the "woe is us" complex.

That's why players sign in certain states for less.

 

[ACC1224]

People love to harp on this tax thing, despite player agents confirming that it makes little to no difference because of tax strategies available to high-earners, because it feeds into the "woe is us" complex.

Of course it makes a difference

 

[uncleben]

Juan Soto has agreed to a 15-year, $765M contract with the New York Mets.

That’s 51 mil a year, for 15 years. Yikes. Over half a NHL salary cap, for one baseball team.

Over 3/4 of a BILLION dollars is f***ing stupid

 

[BallardEra]

Juan Soto has agreed to a 15-year, $765M contract with the New York Mets.

That’s 51 mil a year, for 15 years. Yikes. Over half a NHL salary cap, for one baseball team.

He's already 26 years old and they gave him 15 years? No way he's playing until 41 years old. They'll defer a lot of this money for sure.

EDIT:

This is insane.

"$765 million contract with no deferred money, a signing bonus, several performance escalators, a player opt-out and a 15-year term"

 

[Peasy]

Baseball money aint real.

 

[BallardEra]

 

[Evilhomer]

That's why players sign in certain states for less.

In what sport?

 

[ToneDog]

He's already 26 years old and they gave him 15 years? No way he's playing until 41 years old. They'll defer a lot of this money for sure.

EDIT:

This is insane.

"$765 million contract with no deferred money, a signing bonus, several performance escalators, a player opt-out and a 15-year term"

Rich owner with too much money and ego. Definitely not in it to sell jerseys.

 

[Dekes For Days]

People love to harp on this tax thing, despite player agents confirming that it makes little to no difference because of tax strategies available to high-earners, because it feeds into the "woe is us" complex.

I wouldn't go to that extreme either. The impact isn't as big as multiplying their whole contract by different top bracket tax rates (and doesn't make people earning 3.25m less take home more), and there are ways to help mitigate it further (though some tax strategies do have negative consequences for the player), but there is still a difference. A real difference, and just as importantly, a perceived difference. One unfortunate issue that exists is that many NHL players aren't all that financially literate, and will perceive the difference to be more than it actually is, and not realize the other taxes and ways in which low-income tax areas still extract money from residents.

In short, it's an issue in a hard cap league, but many fans calculate it wrong and put too much emphasis on it, and they would benefit more from learning how contracts actually work in the first place than stressing over the tax differences between them.

 

[ULF_55]

I wouldn't go to that extreme either. The impact isn't as big as multiplying their whole contract by different top bracket tax rates (and doesn't make people earning 3.25m less take home more), and there are ways to help mitigate it further (though some tax strategies do have negative consequences for the player), but there is still a difference. A real difference, and just as importantly, a perceived difference. One unfortunate issue that exists is that many NHL players aren't all that financially literate, and will perceive the difference to be more than it actually is, and not realize the other taxes and ways in which low-income tax areas still extract money from residents.

In short, it's an issue in a hard cap league, but many fans calculate it wrong and put too much emphasis on it, and they would benefit more from learning how contracts actually work in the first place than stressing over the tax differences between them.

Low income tax states still need money to run the state/city.

However, spend tax is something you can control. Property tax isn't based on earning $xxx, it is on the value of the property another controlled spend.

Again, no / lower state income tax just gives the accountant a head start on tax avoidance strategies.

 

[Evilhomer]

Again, no / lower state income tax just gives the accountant a head start on tax avoidance strategies.

That's it. And tax lawyers then go to work to minimize any differences. I have tax partners in my office who spend most of their time doing this.

 

[ULF_55]

That's it. And tax lawyers then go to work to minimize any differences. I have tax partners in my office who spend most of their time doing this.

Exactly.

And sometimes they get it wrong. If there is no tax to recover/avoid you don't need a strategy.

 

[Evilhomer]

Exactly.

And sometimes they get it wrong. If there is no tax to recover/avoid you don't need a strategy.

You're talking about minimizing state tax. It's not really that consequential. Canada is a bit of a different matter.