OT: Kill it. Kill it with fire!

[Mike McDermott]

Who am I kidding?

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[Nibbler]

 

[Myllz]

This is what you mean by MM returning, right?

 

[silverfish]

This is what you mean by MM returning, right?

I SWEAR ON MY LIFE I WAS GOING TO POST THIS!

Lame.

Well played, Myllz.

 

[Afino]

Clock wanted my OT dead, huh? I see how it is.

 

[brian_griffin]

@Chain: Is the issue with taxes? For US income tax purposes, I thought you maintain a US address?

FYI#1 There's a minor industry (advisors, accountants, software, etc.) for well-paid athletes and what their state of residence is, vs. where they work. So athletes can track and document how many days per year they live in their (income tax free) state vs. income earned in states where they work.

FYI#2 It may be a dead and done issue, but years ago there was a lot of legal wrangling between the BFD, BPD, and BUF Board of Ed and their respective firefighters, policemen, and teachers over the definition of residence vs. domicile, etc., and the former residency laws. Don't know if that's still an "issue" or not, as I think the courts ruled those laws could not be enforced.

 

[JThorne]

Didn't that guy get sent to prison?

 

[Gras]

@Chain: Is the issue with taxes? For US income tax purposes, I thought you maintain a US address?

FYI#1 There's a minor industry (advisors, accountants, software, etc.) for well-paid athletes and what their state of residence is, vs. where they work. So athletes can track and document how many days per year they live in their (income tax free) state vs. income earned in states where they work.

Thats what Jeter did while playing for the Yankees, listed his residence as Florida since they don't have a state level income tax.

 

[Jim Bob]

Thats what Jeter did while playing for the Yankees, listed his residence as Florida since they don't have a state level income tax.

I wonder if the fact that the Yankees training base was in Tampa helped him in that regard.

IIRC, Jeter's mansion was really close to the Yankees training complex.

 

[Gras]

I wonder if the fact that the Yankees training base was in Tampa helped him in that regard.

IIRC, Jeter's mansion was really close to the Yankees training complex.

http://taxfoundation.org/blog/derek-jeter-tax-case-distinct-jock-tax-controversy

It was settled but they didn't publicly announce what the settlement was.

The new case that NY tax authorities are bringing against Yankee star Derek Jeter may sound like another case of the "jock tax," but it's quite different.

New York tax authorities already collect state income tax on Derek Jeter's Yankee salary as part of the so-called jock tax, officially called the athletes and entertainers tax or just the non-resident income tax. Like other employees of sports franchises, it doesn't matter where Jeter lives -- he has to pay income tax on his wages to the state where he plays each game. As a result, travelling athletes file dozens of state income tax returns each year.

In effect, New York taxes Jeter's entire salary, then credits him for making payments to other states when his team is on the road. The only states with a Major League Baseball team that refrain from taxing visiting players are Texas, Washington State and Florida. (Illinois only taxes athletes from states that tax their athletes, so it forgives the tax on visitors from these three states.) Every other state demands that each visitor file a state income tax return, declaring the income that was "earned" during the visit. Many cities add yet another layer of tax onto that.

In this new case against Jeter, New York is going after a share (maybe a 100% share) of the tax due on Jeter's non-salary income. His tax liabilities on endorsements and other non-salary income do depend on where he makes his home. State rules vary, but many states count a person as a taxpaying resident if he spends over six months in state. If Jeter lives more than six months of the year in Tampa, as he claims, then he has a good case, no matter what how emotionally attached NY fans are to him or he is to them.

 

[brian_griffin]

I wonder if the fact that the Yankees training base was in Tampa helped him in that regard.

IIRC, Jeter's mansion was really close to the Yankees training complex.

It's quite common for mega-paid-athletes to spend >/= 183 nights per year in an intentionally chosen state in order to avoid paying high (or any) state income tax. There is both software and entire business companies setup to handle such arrangements, documentation, and validation for both legal and tax purposes.

edit: nice quoted post above. That's exactly what I was talking about, but written by an intelligent, coherent professional. (I'm just a soon-to-be-drunk monkey with a keyboard.)

 

[yahhockey]

Isn't it when and where the income is earned though? So a Florida residence would potentially be beneficial for sponsorship income however the salary in relation to games played would not be affected by where your residence is. It's more of a benefit if you were to play for a team from Florida thus playing at least half of the season in a state with no income tax. Some athletes are advised to take that into consideration where they may be paid $X less in Florida but without state income tax their after tax income is higher.

---
I was typing the reply as that article and quote were posted. It appears to generally agree with the above comments so it all works out.

 

[Gras]

It's quite common for mega-paid-athletes to spend >/= 183 nights per year in an intentionally chosen state in order to avoid paying high (or any) state income tax. There is both software and entire business companies setup to handle such arrangements, documentation, and validation for both legal and tax purposes.

edit: nice quoted post above. That's exactly what I was talking about, but written by an intelligent, coherent professional. (I'm just a soon-to-be-drunk monkey with a keyboard.)

I don't blame them when they lose about half when you combine all the fed and state taxes.

 

[Gras]

Isn't it when and where the income is earned though? So a Florida residence would potentially be beneficial for sponsorship income however the salary in relation to games played would not be affected by where your residence is. It's more of a benefit if you were to play for a team from Florida thus playing at least half of the season in a state with no income tax. Some athletes are advised to take that into consideration where they may be paid $X less in Florida but without state income tax their after tax income is higher.

---
I was typing the reply as that article and quote were posted. It appears to generally agree with the above comments so it all works out.

NY wanted a chunk of all his non-Yankee contract monies.

 

[Penalty Killa]

weekend.

 

[Myllz]

I was pretty annoyed to find out I owed on my taxes this year. I'm in a different tax bracket than last year due to a raise, so now I get to pay more. Yay government.

 

[Gras]

I was pretty annoyed to find out I owed on my taxes this year. I'm in a different tax bracket than last year due to a raise, so now I get to pay more. Yay government.

I lowered my state withholding in 2014, I don't get big returns anyways, usually owe the feds 100-200, and get 700 back from the state, trying to get my return closer to 0 on both.

 

[Afino]

I was pretty annoyed to find out I owed on my taxes this year. I'm in a different tax bracket than last year due to a raise, so now I get to pay more. Yay government.

Yeah I haven't done mine yet this year, but I probably should adjust for 2015. I should be pretty close to zero due to switching jobs and having this higher paying one for all of 2014 considering I got a decent refund last year.

 

[vcv]

I was pretty annoyed to find out I owed on my taxes this year. I'm in a different tax bracket than last year due to a raise, so now I get to pay more. Yay government.

Both my wife and i do 0... but we still might have to pay this year. Again.

I still have enter everything in exactly, but it's at least closer to $0 than years past. Maybe I can get it to $0.

Freaking higher tax brackets.

 

[Myllz]

I lowered my state withholding in 2014, I don't get big returns anyways, usually owe the feds 100-200, and get 700 back from the state, trying to get my return closer to 0 on both.

We don't have state income tax here, so mine's all federal.

Both my wife and i do 0... but we still might have to pay this year. Again.

I still have enter everything in exactly, but it's at least closer to $0 than years past. Maybe I can get it to $0.

Freaking higher tax brackets.

Mine was at exactly $0 last year, and I even raised my holdings this year to compensate for the raise. Guess I get a $500 bill to show for it.

 

[silverfish]

My parents made me cancel hockey this morning because they didn't want me driving in the snow. It was still snowing at that point, and we probably had about 2" on the ground

Sign 13095724095724085724985 that it's really time to move out.

**** you, Manhattan, for being so damn expensive.

 

[Mike McDermott]

My parents made me cancel hockey this morning because they didn't want me driving in the snow. It was still snowing at that point, and we probably had about 2" on the ground

Sign 13095724095724085724985 that it's really time to move out.

**** you, Manhattan, for being so damn expensive.

Last I checked there are more places to live other than Manhattan.

 

[silverfish]

Last I checked there are more places to live other than Manhattan.

Well, the whole points of moving out of my parents' house are:

A) To get away from them, for the most part
B) I'm 24, it's time
C) To severely lower my current commute time of 1.5 hours one-way

The thing is, working in Advertising/Marketing, there's really no better place to 'set up shop' than Manhattan. There are a ton of agencies here.

Moving somewhere else on Long Island wouldn't make sense, financially or in regards to the commute time, which could be an even bigger disaster pending where on Long Island I moved.

I wouldn't be comfortable living in Brooklyn or the Bronx, and my commute from there would still be a pretty big hassle.

Queens is the same thing of comfort, but the commute would be very easy if I lived in a place like Long Island City or Astoria... I just don't know how I feel about those places. Those neighborhoods, and Brooklyn and the Bronx just don't seem to make me feel right.

I'm not really trying to relocate somewhere else in the country right now.

Which leaves me with Manhattan. On my $40K a year salary (easy, ladies, one at a time ), that's not really feasible.

Thankfully, I just logged my one-year anniversary at my current job this past week. So the job hunt for bigger and better things has begun

This post makes me sound like a snobby ***hole. I really wish it didn't come off that way.

Maybe I am one?

 

[Mike McDermott]

Well, the whole points of moving out of my parents' house are:

A) To get away from them, for the most part
B) I'm 24, it's time
C) To severely lower my current commute time of 1.5 hours one-way

The thing is, working in Advertising/Marketing, there's really no better place to 'set up shop' than Manhattan. There are a ton of agencies here.

Moving somewhere else on Long Island wouldn't make sense, financially or in regards to the commute time, which could be an even bigger disaster pending where on Long Island I moved.

I wouldn't be comfortable living in Brooklyn or the Bronx, and my commute from there would still be a pretty big hassle.

Queens is the same thing of comfort, but the commute would be very easy if I lived in a place like Long Island City or Astoria... I just don't know how I feel about those places. Those neighborhoods, and Brooklyn and the Bronx just don't seem to make me feel right.

I'm not really trying to relocate somewhere else in the country right now.

Which leaves me with Manhattan. On my $40K a year salary (easy, ladies, one at a time ), that's not really feasible.

Thankfully, I just logged my one-year anniversary at my current job this past week. So the job hunt for bigger and better things has begun

This post makes me sound like a snobby ***hole. I really wish it didn't come off that way.

Maybe I am one?

I get not wanting to relocate to another part of the country. You just need to figure out what is a bigger priority... Moving out or being in a 100% ideal location. And IMHO the 2nd option isn't possible no matter where you live in the country.

 

[silverfish]

I get not wanting to relocate to another part of the country. You just need to figure out what is a bigger priority... Moving out or being in a 100% ideal location. And IMHO the 2nd option isn't possible no matter where you live in the country.

Well, I do think the 2nd options is possible. I see people doing it. And I think if I made $60K or more a year, Manhattan would be fantastic. But, dealing in hypotheticals like that isn't really healthy. And it's to each their own, you know? I have friends currently living in Manhattan, and it's ideal for them at the moment. I have no idea how they're comfortable working for a living and not saving anything. Hell, I have a friend moving in next month and his entire paycheck is going to rent. I have no idea how he's going to actually live, but it's a comfortable situation for him -- and he's always been a bit of an idiot

One of my brothers lives in the Financial District in Manhattan. My other brother lives in Brooklyn. They both work, live, play, etc... in Manhattan/New York City, and they can afford to do so. I think for both of them, in their own way, they have the 100% ideal location.

Should've just stayed in Buffalo after I graduated (we've tackled this subject before. I wouldn't be comfortable moving back to Buffalo now). Though, if my parents don't want me driving in 2" of snow, I don't know how they would've felt about that