old kummelweck
Registered User
- Nov 10, 2003
- 25,260
- 5,363
I started doing a little googling yesterday after Adam's response to questions about Pegula's financial support for the team. Running a few side-hustles myself and working with a real accountant, I have learned a lot about the tax system. Having some not-so-profitable enterprises myself, I have learned that a dollar spent is not always a dollar spent.
Bottom line, billionaires receive some very compelling tax benefits year-to-year, even when they buy a franchise that appreciates in value, and eating a coaching contract or two may not be as expensive or costly as is presented in the media, if it helps Terry reduce his overall tax burden a percentage or two.
Bottom line, billionaires receive some very compelling tax benefits year-to-year, even when they buy a franchise that appreciates in value, and eating a coaching contract or two may not be as expensive or costly as is presented in the media, if it helps Terry reduce his overall tax burden a percentage or two.
The Billionaire Playbook: How Sports Owners Use Their Teams to Avoid Millions in Taxes
Owners like Steve Ballmer can take the kinds of deductions on team assets — everything from media deals to player contracts — that industrialists take on factory equipment. That helps them pay lower tax rates than players and even stadium workers.
www.propublica.org