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Bill Simmons and Jalen Rose - 23rd in the NBA (Video)

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  • #16
    Hey, I love Jalen and don't doubt his personal experience, but double taxation from the US and Canada? I've worked overseas myself and now work with immigrants in Canada, many of them on work permits. I have never heard of double income taxes. Maybe there's some extra 3-4% in Ontario/Canada for non-resident athletes? (Louisiana actually does this.)

    "While Ontario’s income tax rate is higher than the state income tax rate of any state with an NBA team, Canada’s top federal income tax rate is 29% – considerably less than the top tax bracket in the U.S., which weighs in at 35%. When federal tax rates are included, Toronto’s income tax ranks as the 13th lowest of all NBA cities." - link

    "The complicating factor for pro athletes is not how much they earn — though they often make millions of dollars per year — but where they earn it. With few exceptions, athletes owe income taxes in every state where they play.

    Red Sox players, for example, will take the field in 14 states and the Canadian province of Ontario this season. Eleven of those jurisdictions tax income earned within their borders. In addition, several cities where the team will play road games — Detroit, Kansas City, Philadelphia, and Cleveland — levy separate* income taxes.

    Including his federal obligation and any taxes owed to his home state, a Sox player might expect to pay 17 tax bills." - Boston Globe

    "The tax treaty between the United States and Canada preventing double taxation for those who cross the border for work can complicate tax planning for Canadian-based NBA, NHL and MLB players. (There are no NFL teams north of the border.)
    This is because Canada's top tax rate of 48 percent is 13 percent higher than the U.S. maximum (35 percent), and Canada taxes individuals based on their residency while the U.S. taxes people based on citizenship.
    Get a signing bonus from a Canadian team, which under the treaty is only taxed at 15 percent," he says. "Canada withholds 15 percent, you get a full credit, pay the 20 percent down here, and you're not penalized for playing for a Canadian-based team." - Yahoo Finance
    "We're playing in a building." -- Kawhi Leonard

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    • #17
      S.R. wrote: View Post
      "The complicating factor for pro athletes is not how much they earn β€” though they often make millions of dollars per year β€” but where they earn it. With few exceptions, athletes owe income taxes in every state where they play.
      Not sure I understand this. The athlete gets one paycheck from one employer in one state, which is presumably his primary residence for that year. Why would the location where his services be rendered (i.e. where the games are played) have to be broken out separately from a tax point of view?

      It would be like a field service engineer having to pay taxes in every state that his company dispatches him to fix. How is an athlete different from the field service guy?

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      • #18
        p00ka wrote: View Post
        I've said it before and I'll say it again: U.S. on-line sports media play Raptors' fans. I remember, from 7-8 years ago, an NBA.com writer say that one sure way of getting lots of activity was saying something wrong/controversial/critical about Toronto/Canada/Raptors. Raptors fans play along and it pays the bills.
        Simmons refers to the vicious/passionate online presence of Raptors fans all the time (in a positive way). No doubt he's looking to stir things up.
        "We're playing in a building." -- Kawhi Leonard

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        • #19
          S.R. wrote:
          Simmons refers to the vicious/passionate online presence of Raptors fans all the time (in a positive way). Undoubtedly he's looking to poke a sleeping bear.
          Simmons' formula is to provoke the readers in order to get responses (= hits = advertising $$ = more money for Bill Simmons). Over time, Simmons has discovered that Toronto fans provide the most consistently Pavlolian responses to his jabs and moreso in high volume.

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          • #20
            golden wrote: View Post
            Not sure I understand this. The athlete gets one paycheck from one employer in one state, which is presumably his primary residence for that year. Why would the location where his services be rendered (i.e. where the games are played) have to be broken out separately from a tax point of view?

            It would be like a field service engineer having to pay taxes in every state that his company dispatches him to fix. How is an athlete different from the field service guy?
            This surprised me, too. One of the articles mentioned needing to play a minimum number of games in a city before the taxes kick in. That implies there's a minimum earnings floor before this takes effect? That would explain why your average field service guy/sales guy/trucker etc. wouldn't pay it. It makes sense - for small amounts the admin work wouldn't make processing the claims worthwhile in a jurisdiction, but if the earnings are high enough, they'll want a piece of the pie.

            Just thinking out loud here...I'm no tax expert.
            "We're playing in a building." -- Kawhi Leonard

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            • #21
              I dont know what was worse bill Simmons hating on Toronto or my hating on Halifax? playing around. Heres the thing Masai Ujiri is a brilliant dude nobody knows what hes going to do lol. The trade Rudy thing I wouldnt be surprised if it happens but its on him to crash and burn cause Raptors built him up so much to be leader of the team.

              "I never liked Pacers bench last season and Toronto has 2 of them playingfor them now" Lol! o Bill

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              • #22
                S.R. wrote: View Post
                Hey, I love Jalen and don't doubt his personal experience, but double taxation from the US and Canada? I've worked overseas myself and now work with immigrants in Canada, many of them on work permits. I have never heard of double income taxes. Maybe there's some extra 3-4% in Ontario/Canada for non-resident athletes? (Louisiana actually does this.)

                "While Ontario’s income tax rate is higher than the state income tax rate of any state with an NBA team, Canada’s top federal income tax rate is 29% – considerably less than the top tax bracket in the U.S., which weighs in at 35%. When federal tax rates are included, Toronto’s income tax ranks as the 13th lowest of all NBA cities." - link

                "The complicating factor for pro athletes is not how much they earn β€” though they often make millions of dollars per year β€” but where they earn it. With few exceptions, athletes owe income taxes in every state where they play.

                Red Sox players, for example, will take the field in 14 states and the Canadian province of Ontario this season. Eleven of those jurisdictions tax income earned within their borders. In addition, several cities where the team will play road games β€” Detroit, Kansas City, Philadelphia, and Cleveland β€” levy separate* income taxes.

                Including his federal obligation and any taxes owed to his home state, a Sox player might expect to pay 17 tax bills." - Boston Globe

                "The tax treaty between the United States and Canada preventing double taxation for those who cross the border for work can complicate tax planning for Canadian-based NBA, NHL and MLB players. (There are no NFL teams north of the border.)
                This is because Canada's top tax rate of 48 percent is 13 percent higher than the U.S. maximum (35 percent), and Canada taxes individuals based on their residency while the U.S. taxes people based on citizenship.
                Get a signing bonus from a Canadian team, which under the treaty is only taxed at 15 percent," he says. "Canada withholds 15 percent, you get a full credit, pay the 20 percent down here, and you're not penalized for playing for a Canadian-based team." - Yahoo Finance
                Thanks for posting this. I have researched this before, iknew I wasnt taking crazy pills hahaha

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                • #23
                  Rapstor4Life wrote: View Post
                  I dont know what was worse bill Simmons hating on Toronto or my hating on Halifax? playing around. Heres the thing Masai Ujiri is a brilliant dude nobody knows what hes going to do lol. The trade Rudy thing I wouldnt be surprised if it happens but its on him to crash and burn cause Raptors built him up so much to be leader of the team.

                  "I never liked Pacers bench last season and Toronto has 2 of them playingfor them now" Lol! o Bill
                  MU = WARLORD hahahaha

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                  • #24
                    Espn jalen rose, bill simmons raptors preview

                    I wanted to no what you guys thought about this preview video from espy with jalen and bill. To me i believe Jalen rose knows what he is talking about, but bill simmons knows nothing about toronto. The beginning of the video pisses me off the most. Let me no what you think


                    http://www.youtube.com/watch?v=bTU37EXkSH4
                    Live. Breath. Sleep. Raptors

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                    • #25
                      simmons is a idiot, on media day they said we r not going to tank
                      Live. Breath. Sleep. Raptors

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                      • #26
                        Rapstor4Life wrote: View Post
                        I dont know what was worse bill Simmons hating on Toronto or my hating on Halifax? playing around. Heres the thing Masai Ujiri is a brilliant dude nobody knows what hes going to do lol. The trade Rudy thing I wouldnt be surprised if it happens but its on him to crash and burn cause Raptors built him up so much to be leader of the team.

                        "I never liked Pacers bench last season and Toronto has 2 of them playingfor them now" Lol! o Bill
                        FWIW that's the exact same thing I thought when we signed those two guys.. lol
                        Twitter - @thekid_it

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                        • #27
                          If you want your answer, backlash has beat you to asking it.
                          If Your Uncle Jack Helped You Off An Elephant, Would You Help Your Uncle Jack Off An Elephant?

                          Sometimes, I like to buy a book on CD and listen to it, while reading music.

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                          • #28
                            I love it!!! So entertaining. I love T-Dot but their assessment isn't that far off. I don't have the Toronto "inferiority complex" that perhaps some fans might have. It was entertaining, and yes, I too believe that Mr. Gay will be out of town by Jan. 15th! Peace!
                            β€œThe saving of our world from pending doom will come, not through the complacent adjustment of the conforming majority, but through the creative maladjustment of a nonconforming minority.” - Martin Luther King

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                            • #29
                              Thread really reaffirmed my love for Jalen Rose
                              @sweatpantsjer

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                              • #30
                                I don't see how this could inflame the "inferiority complex". Both professed love for Toronto, and a desire for the franchise to succeed. Jalen's last two words at the end cracked me up.

                                The most interesting part for me was how certain they both seemed that Rudy was on the way out, and soon. I for one, would love Rondo, but am not sure who they'd have to give up/take back to make it work. I don't see why Boston does Rudy/Rondo straight up. I doubt the long-term relief (Rudy's shorter contract) on its own is enough. Thoughts?

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