Marc Methot saving 1.4 million dollars.

[Oddbob]

marc probably the last person to chime in on money made in texas as he was about as valuable to the stars as tits on a boar hog

This has nothing to do with him knowing how much he made or saved.

 

[ItWasJustified]

I think taxing revenues is insane and would cause so much harm you couldn't imagine it. I don't know of any system that does it unless you want to call a sales tax as tax on revenue. Absolutely crazy.

You're entitled to your opinion. But the fact is that governments tax individuals on their revenues and not on their profits. It's not like you pay taxes on what you have left after you paid you different expenditures.

 

[WesMcCauley]

He says over 2 years in Dallas he saved 1.4
Million.

Everyone knows this. It has been referenced by multiple players GMs agents and accountants.

Fans here pretend it’s not true..... but it is. Wait for someone to say he’s wrong

There is some truth to it but there is so much a player can do to limit their taxes. Allan Walsh mentions some of it here:


You can end up with a pretty low tax rate if you actually plan this stuff, something im 100% sure a player like Matthews has done. He will end up taking out a lot of that money when he retires in Arizona where there is a low tax rate and he will save tons. This isnt as black and white as some people think it is.

 

[ovythegiraffe]

It's easy to get around other state taxes by giving a huge bonus on July 1 and low salary during the season

Can you pay a bonus at any point of the season? Like f.ex. if Toronto would pay a bonus to Tavares during an away game at Dallas?

 

[Legion34]

Requisite: the salary cap was not established for “parity”.

Requiste: cost certainty could have been accomplished in many ways. Teams could buy cap space be allocated in different ways etc.

The players get half the money. There is nothing that says all 31 teams have the same amount they can spend in cost certainty. That is parity.

also. The league specifically and repeatedly mentioned parity as one of the goals. So yes. It was

 

[OppositeLocK]

You're entitled to your opinion. But the fact is that governments tax individuals on their revenues and not on their profits. It's not like you pay taxes on what you have left after you paid you different expenditures.

No, they don't.

Yes you do. An example would be employment income less employment expenses.

Just because you have nothing to deduct doesn't mean you're getting taxed on revenues.

 

[drktmplr12]

it goes like this;

1. someone on twitter makes a claim
2. a player corroborates it
3. people on HF say the player is wrong

never change

 

[Empoleon8771]

The whole tax system needs an overhaul. The wrong people are not paying taxes, while the rest of us are covering it for the wealthy ones.

Wait why are we acting like NHL players aren't wealthy?

 

[ShootIt]

In before some Colorado fans @ the IRS.



jk

 

[VinikToWinIt]

If you guys don’t like state income tax, maybe you should take it up with your state representatives instead of expecting the NHL to handcuff other teams.

 

[Empoleon8771]

He says over 2 years in Dallas he saved 1.4
Million.

Everyone knows this. It has been referenced by multiple players GMs agents and accountants.

Fans here pretend it’s not true..... but it is. Wait for someone to say he’s wrong

No one pretends that some teams don't have tax advantages over other teams. It's just stupid to whine about because there are other advantages that higher tax teams can offer that lower tax teams can't offer. Things such as higher standard of living, being able to offer larger signing bonuses and stuff along that line.

It's always fans of rich teams who want to cry because their teams can't build good enough teams, so they want to do something to improve their chances. It's so easy to see through it.

 

[Garthinater]

The whole tax system needs an overhaul. The wrong people are not paying taxes, while the rest of us are covering it for the wealthy ones.

You do realize these hockey players pay almost half their salary in taxes, right?

The rich pay millions in taxes each year.

The only overhaul we need it there to be less taxes.

 

[MrHeiskanen]

No one pretends that some teams don't have tax advantages over other teams. It's just stupid to whine about because there are other advantages that higher tax teams can offer that lower tax teams can't offer. Things such as higher standard of living, being able to offer larger signing bonuses and stuff along that line.

It's always fans of rich teams who want to cry because their teams can't build good enough teams, so they want to do something to improve their chances. It's so easy to see through it.

Exactly.

Toronto fans love to cry about the tax rate, but yet that market can offer their players the best and highest sponsorship deals and opportunities out there. As a Dallas fan, should I cry that we don't have a Rogers, Canadian Tire, etc. etc. lining up to offer our players millions of dollars? So unfair!!

Should Arizona fans cry and complain that the vast majority of teams have a much larger budget for staff, facilities, scouting, development?

Should all USA teams cry that players are paid in USD, so Canadian teams players money goes further for them in the City they are living.

Should Toronto, LA, and NYR cry and complain that their daily living expenses are 5x those of Winnipeg and Columbus?

THERE WILL NEVER BE A 100% LEVEL PLAYING FIELD.

 

[Lazlo Hollyfeld]

Strange how this wasn't an issue until the Florida teams and Dallas started to compete for the Cup.

It's also a become a weird proxy argument for people who want to bitch about taxes or liberals.

 

[Lazlo Hollyfeld]

There is some truth to it but there is so much a player can do to limit their taxes. Allan Walsh mentions some of it here:


You can end up with a pretty low tax rate if you actually plan this stuff, something im 100% sure a player like Matthews has done. He will end up taking out a lot of that money when he retires in Arizona where there is a low tax rate and he will save tons. This isnt as black and white as some people think it is.

Thanks to Burkie for perfectly demonstrating how people making the argument about unfair taxes often completely misunderstand and misrepresent how taxes actually work.

 

[Skinnyjimmy08]

That's the way the cookie crumbles... nothing anyone can do about it so why constantly discuss it

I have a friend that played with Vancouver years ago and also had lived in Vegas for a few years and he always says that the hit that Nate Schmidt would have taken going from VGK to Van on his paycheque would be absolutely disgusting.. basically took a massive pay cut on take home pay... not to mention housing prices and all that too

He always pulls the calculator out and shows examples of what take home pay would be for players once you subtract taxes and all other stuff deducted off NHLers paycheques

 

[SomeDude]

There is some truth to it but there is so much a player can do to limit their taxes. Allan Walsh mentions some of it here:


You can end up with a pretty low tax rate if you actually plan this stuff, something im 100% sure a player like Matthews has done. He will end up taking out a lot of that money when he retires in Arizona where there is a low tax rate and he will save tons. This isnt as black and white as some people think it is.

This. The more that I have had to deal with taxes, the more I learn of how many loopholes and ways to not pay them exist. All you have to do is hire a competent accountant.

 

[Five Alarm Fire]

Methot missed a bunch of games in Dallas. Just spending that time at home in Dallas would theoretically impact his taxes as opposed to playing out-of -state. I think the jock tax situation is far more complicated than a lot of people want to make it out to be though, and I don't think the difference between certain states/provinces is as minimal as some want to believe.

This is why Stamkos always has mysterious injuries. In order to get the discount we got, we arranged to have him miss chunks of seasons to save on taxes. Same thing with Kucherov.

 

[StreetHawk]

This. The more that I have had to deal with taxes, the more I learn of how many loopholes and ways to not pay them exist. All you have to do is hire a competent accountant.

Burke said he worked on the numbers with Joe Resnick, a player agent.

I'm sure that there are things players with a good tax accountant can take advantage of.

Some things might be a delay in paying taxes to a future year, who knows. Would need a tax expert to give you that answer.

 

[DistantThunderRep]

There is some truth to it but there is so much a player can do to limit their taxes. Allan Walsh mentions some of it here:


You can end up with a pretty low tax rate if you actually plan this stuff, something im 100% sure a player like Matthews has done. He will end up taking out a lot of that money when he retires in Arizona where there is a low tax rate and he will save tons. This isnt as black and white as some people think it is.

The NBA banned Toronto from using RCA's for players because they deemed it too big of an advantage for the Raptors.

 

[majormajor]

How are you "getting screwed" by it?

There's nothing preventing you from advocating for lower taxes for everyone where you live. Or even a lower tax rate exemption for hockey players only if that's so important.

Quite simply, in a salary cap league, it is unfair to have big differences in pay between teams. That ought to be 100% intuitive.

I don't want lower taxes on rich people. Of all the social ills in the world, rich people having to pay taxes is not one of them.

 

[AchtzehnBaby]

Folks - this is not a thread about "eat the rich" ...nor for political rants.

Please stay on topic.

 

[DistantThunderRep]

Quite simply, in a salary cap league, it is unfair to have big differences in pay between teams. That ought to be 100% intuitive.

I don't want lower taxes on rich people. Of all the social ills in the world, rich people having to pay taxes is not one of them.

Its always about the slippery slope. Once you account for income tax per location because it directly effects the salary cap, then so does sponsorships, desirability of location, property taxes, costs of living, etc...Those are all factors that will effect a players contract and pay. Example would be, something between how much does someone want to live and play in Detroit over living in LA? You might take the hit on income tax, because LA in every other way is a better place to live than Detroit if you have money.

 

[majormajor]

Its always about the slippery slope. Once you account for income tax per location because it directly effects the salary cap, then so does sponsorships, desirability of location, property taxes, costs of living, etc...Those are all factors that will effect a players contract and pay. Example would be, something between how much does someone want to live and play in Detroit over living in LA? You might take the hit on income tax, because LA in every other way is a better place to live than Detroit if you have money.

Not that slippery.

Post-tax income is an easily quantifiable thing that you can apply a salary cap to. City amenities? Not at all.

I'm not upset that some teams have advantages over others. I just don't want them to be able to pay more than others. That's all.

 

[DistantThunderRep]

Not that slippery.

Post-tax income is an easily quantifiable thing that you can apply a salary cap to. City amenities? Not at all.

I'm not upset that some teams have advantages over others. I just don't want them to be able to pay more than others. That's all.

Just as sponsorships are quantifiable also. Remember when the Leafs brought the CEO of Canadian Tire to negotiations with Stamkos to entice him with multi million dollar sponsorships? That wouldn't apply to caps but are used by big market teams to circumvent the cap too.