OT: Other LA Sports: Dodgers, Angels, Lakers, Clippers, Rams, USC, UCLA, Fantasy, MMA etc #2

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AzKing

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Feb 4, 2019
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Newport Coast, CA
The Padres are funny. They have absolutely no rotation at all and they have that money tied into Myers, Hosmer and Machado. I like some of their kids and they should have stayed on a progressive build rather than dump all that money into these guys when they are several years away from competing.

Machado's WAR would have a lot more impact on a competing team than on a team like San Diego.
 

Herby

Now I can die in peace
Feb 27, 2002
26,230
14,975
Mullett Lake, MI
I actually don't hate this move for the Padres. It's a little bit over market value, but when you are the Padres that is what you have to do to get a guy like this.

I think they could have a sneaky good lineup next year and they have one of the best systems in MLB. And Machado is young enough where they can be ok with not contending for the first 2 years of his contract.
 

tny760

Registered User
Mar 12, 2017
18,979
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bringing in hosmer didn't put butts in the seats, machado won't either

shameful being a "fan" of this team, throw away all your developed stars year after year after year then try and buy your way into the playoffs?
 

kingsholygrail

Almost there.. 38-23-11
Sponsor
Dec 21, 2006
81,018
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Derpifornia
No opt-outs and no trade. Oof. While I'm glad the Dodgers didn't do something that stupid, they've struck out on every major FA it seems like.
 

KINGS17

Smartest in the Room
Apr 6, 2006
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I actually don't hate this move for the Padres. It's a little bit over market value, but when you are the Padres that is what you have to do to get a guy like this.

I think they could have a sneaky good lineup next year and they have one of the best systems in MLB. And Machado is young enough where they can be ok with not contending for the first 2 years of his contract.
Interesting side line to the Machado contract with the Padres:



No, Manny Machado Can't Avoid Paying California Tax by Being a Florida Resident - Legal News Directory

I am thinking about renting a shoe box in Texas and having all of my mail sent there. By the way folks, in case you forgot, you can only deduct $10,000 of your state and local income taxes on your federal return starting in 2018 tax year.
 

Herby

Now I can die in peace
Feb 27, 2002
26,230
14,975
Mullett Lake, MI
The last couple of years could be a bit ugly, but Trout is going to play his entire career for the Angels so it's just kind of making up for getting 3 MVP caliber seasons from Trout while paying him under a million bucks earlier in his career.
 

GoldenBearHockey

Registered User
Jan 6, 2014
9,640
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Interesting side line to the Machado contract with the Padres:



No, Manny Machado Can't Avoid Paying California Tax by Being a Florida Resident - Legal News Directory

I am thinking about renting a shoe box in Texas and having all of my mail sent there. By the way folks, in case you forgot, you can only deduct $10,000 of your state and local income taxes on your federal return starting in 2018 tax year.


No where NEAR being a tax guru, or anything, but how does this work?
 

KINGS17

Smartest in the Room
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No where NEAR being a tax guru, or anything, but how does this work?
With very expensive accountants and tax attorneys. I am sure Machado must live in Florida a certain percentage of the year in order to establish residency. New York state is going after this kind of thing in a big way forcing people to prove they no longer reside in the state of New York.

Bloomberg - Are you a robot?
 

GoldenBearHockey

Registered User
Jan 6, 2014
9,640
3,988
With very expensive accountants and tax attorneys. I am sure Machado must live in Florida a certain percentage of the year in order to establish residency. New York state is going after this kind of thing in a big way forcing people to prove they no longer reside in the state of New York.

Bloomberg - Are you a robot?

Hell I thought you were saying normal people can write off 10K of taxes lmao
 

KINGS17

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Hell I thought you were saying normal people can write off 10K of taxes lmao
New limit on state and local taxes which you can deduct from your federal income tax return is $10,000. Obviously, if you move to a state where there is 0% income tax, instead of say highest tax bracket of 10.55% in California for every dollar earned over $1M, you can see why it has become even more advantageous for athletes to work outside of California.

Let's take a simple example. A California resident makes $10M in taxable income in a year. Ignore the first $1M (which I assure you the state and fed government won't do, but it helps to keep the example simple). On the $9M after the first $1M that person owes California an additional $949,500 in state income tax. Under the old rules the person could use the entire $949,500 as a deduction on their federal income tax return, reducing their fed taxable income to $9,050,500 (this isn't even considering the deduction for property taxes which are probably high, say 5% of the home's assessed value).

Under the new rules the max state and local taxes deductible is $10,000. For this simple example the new federal taxable income is now $9,990,000. That's around another $850,000 in federal taxable income the person now owes federal income tax on, and it's taxed at the highest federal rate of 37%. That's around $315,000 in additional fed income tax.

https://smartasset.com/taxes/trumps-plan-to-eliminate-the-state-and-local-tax-deduction-explainedble

Starting with the 2018 tax year, the maximum SALT deduction is $10,000. There was previously no limit. This will leave some high-income filers with a higher tax bill. The limit is also important to know because the 2018 standard deduction is $12,000 (for single filers). So you need to have another $2,000 of itemized deductions, beyond the SALT deduction, in order to itemize.

How the New Limit on SALT Deductions Affects Homeowners - Mitchell Wiggins

Under prior law, in addition to being allowed to deduct 100% of state and local income (or sales) taxes, homeowners could deduct 100% of their state and local personal property taxes.

In other words, there was previously no limit on the amount of personal (nonbusiness) SALT deductions you could take, if you itemized. You also had the option of deducting personal state and local general sales taxes, instead of state and local income taxes (if you owed little or nothing for state and local income taxes).

Under the TCJA, for 2018 through 2025, itemized deductions for personal SALT amounts are limited to a combined total of only $10,000 ($5,000 if you use married filing separately status). The limitation applies to state and local 1) income (or sales) taxes, and 2) property taxes.
Moreover, personal foreign real property taxes can no longer be deducted at all. So, if you’re lucky enough to own a vacation villa in Italy, a cottage in Canada or a beach condo in Cancun, you’re out of luck when it comes to deducting the property taxes.


 
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MartinS82

Registered User
May 26, 2016
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New limit on state and local taxes which you can deduct from your federal income tax return is $10,000. Obviously, if you move to a state where there is 0% income tax, instead of say highest tax bracket of 10.55% in California for every dollar earned over $1M, you can see why it has become even more advantageous for athletes to work outside of California.

Let's take a simple example. A California resident makes $10M in taxable income in a year. Ignore the first $1M (which I assure you the state and fed government won't do, but it helps to keep the example simple). On the $9M after the first $1M that person owes California an additional $949,500 in state income tax. Under the old rules the person could use the entire $949,500 as a deduction on their federal income tax return, reducing their fed taxable income to $9,050,500 (this isn't even considering the deduction for property taxes which are probably high, say 5% of the home's assessed value).

Under the new rules the max state and local taxes deductible is $10,000. For this simple example the new federal taxable income is now $9,990,000. That's around another $850,000 in federal taxable income the person now owes federal income tax on, and it's taxed at the highest federal rate of 37%. That's around $315,000 in additional fed income tax.

https://smartasset.com/taxes/trumps-plan-to-eliminate-the-state-and-local-tax-deduction-explainedble

Starting with the 2018 tax year, the maximum SALT deduction is $10,000. There was previously no limit. This will leave some high-income filers with a higher tax bill. The limit is also important to know because the 2018 standard deduction is $12,000 (for single filers). So you need to have another $2,000 of itemized deductions, beyond the SALT deduction, in order to itemize.

How the New Limit on SALT Deductions Affects Homeowners - Mitchell Wiggins

Under prior law, in addition to being allowed to deduct 100% of state and local income (or sales) taxes, homeowners could deduct 100% of their state and local personal property taxes.

In other words, there was previously no limit on the amount of personal (nonbusiness) SALT deductions you could take, if you itemized. You also had the option of deducting personal state and local general sales taxes, instead of state and local income taxes (if you owed little or nothing for state and local income taxes).

Under the TCJA, for 2018 through 2025, itemized deductions for personal SALT amounts are limited to a combined total of only $10,000 ($5,000 if you use married filing separately status). The limitation applies to state and local 1) income (or sales) taxes, and 2) property taxes.
Moreover, personal foreign real property taxes can no longer be deducted at all. So, if you’re lucky enough to own a vacation villa in Italy, a cottage in Canada or a beach condo in Cancun, you’re out of luck when it comes to deducting the property taxes.

i-was-told-there-would-be-no-math.jpg
 

KINGS17

Smartest in the Room
Apr 6, 2006
32,320
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Anteaters lead Kansas State 53-51 with 8 minutes left in the 2nd half.

...and UC Irvine goes on to get their first ever win in the NCAA tournament 70-64.
 
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KINGS17

Smartest in the Room
Apr 6, 2006
32,320
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Brackets busted.
Yup, #12 in the South Region Oregon vs #13 UC Irvine playing for a berth in the Sweet Sixteen.

With the Kings season absolutely sucking, I have been following the college basketball season more closely than I have in years and I found it to be quite entertaining. Took some side trips in my travels this season to meet up with my brother and catch some Sun Devil basketball this past season. Fun team to watch with lots of passion even if they were slightly schizo and inconsistent.

The NBA is unwatchable, but it's fun to see the momentum swings involved in college basketball and much like college football the game is more unpredictable because these kids make a ton of mistakes while still playing very hard.
 
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