Pilchard
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Well that’s not really true. I’m sure it comes with accrued interest. Look at Bonilla’s deal.dollar today is worth more than a dollar tomorrow
not sure what ohtani is thinking
Oh damn. Yeah, that’s a bad deal for both sides and really shouldn’t be legal.what i read it was no interest
Shohei Ohtani contract: Explaining $680 million deferral in Dodgers deal with unique Andrew Friedman clause
Ohtani will earn just $2 million in salary a year thanks to the deferralswww.cbssports.com
In an effort to enable the Dodgers to continue spending around stars Ohtani, Mookie Betts and Freddie Freeman, Ohtani agreed to defer all but $2 million of his annual salary — $68 million of his $70 million per year — until after the completion of the contract. The deferred money is to be paid out without interest from 2034 to 2043."
He wants to play for a winner and by deferring, it frees up more cash for the Dodgers to spend now (and a lower luxury tax hit)dollar today is worth more than a dollar tomorrow
not sure what ohtani is thinking
California state income tax is among the highest of the state income taxes. Maybe in 10 years, he is done with baseball, retired to Japan and taxes are different than if he was taking $70 million per year for the next decade while living in CA.Loop hole if he lives somewhere without income tax when the deferred payments kick in
He wants to play for a winner and by deferring, it frees up more cash for the Dodgers to spend now (and a lower luxury tax hit)
I’ve read that in a bunch of articles today, and the other tax lawyers/accountants can tell me what I’m missing, but how would that not be California source income?Loop hole if he lives somewhere without income tax when the deferred payments kick in
Need a tax expert to weigh in on what US income tax would be on payments by a US corporation to a Japanese citizen living in Japan. Might be zero. California state income tax shouldn't apply.But why should he be the one to take less and defer?
Need a tax expert to weigh in on what US income tax would be on payments by a US corporation to a Japanese citizen living in Japan. Might be zero. California state income tax shouldn't apply.
I mean his circumstance is unique enough that I really don’t think it’s comparable to anything we’ve seen before.Yeah. Everyone knows wealthy people don’t want more money.