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Getbig Main Boards => Gossip & Opinions => Topic started by: Nails on July 12, 2011, 12:25:51 PM
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http://sports.yahoo.com/mlb/blog/big_league_stew/post/Buzzkill-Fan-may-owe-taxes-on-rewards-for-Jeter?urn=mlb-wp12427 (http://sports.yahoo.com/mlb/blog/big_league_stew/post/Buzzkill-Fan-may-owe-taxes-on-rewards-for-Jeter?urn=mlb-wp12427)
(http://l.yimg.com/a/p/sp/editorial_image/bc/bc1ebdb023d651a07bf43a4cb3870f0c/buzzkill_fan_may_owe_taxes_on_rewards_for_jeters_th.jpg)
Christian Lopez might end up wishing he kept that baseball after all.
Lopez became more than a footnote to the spectacle of Derek Jeter(notes) getting his 3,000th hit on Saturday at Yankee Stadium by returning the milestone baseball to the New York Yankees shortstop rather than cash it in for a likely six-figure payday. That touched off a debate still raging among fans days later: Would you have given the ball back or sold it to the highest bidder for a payday that was rumored as high as $250,000?
For his gesture, Lopez was rewarded by the Yankees with luxury box tickets for the rest of the season (including postseason), along with signed baseballs, bats and jerseys from Jeter. In addition, Lopez received four premium front-row seats to last Sunday's Yankees-Rays game.
Nice haul, right? Sure, but with those generous gifts comes tax liability. As George Harrison once sang for the Beatles, "Let me tell you how it will be; There's one for you, nineteen for me. 'Cause I'm the Taxman."
The IRS will likely consider Lopez's gratuities from the Yankees as income, and if so, he could end up having to pay anywhere from $5,000 to $13,000 in taxes, according to the New York Daily News. The New York Times, meanwhile, says the face value of the tickets to the remaining 32 regular-season games at Yankee Stadium are worth anywhere between $44,800 and $73,600. The paper's conservative estimate puts Lopez's tax bill at $14,000.
Lopez, however, seems unfazed by these revelations.
If the IRS comes calling, he says he'll pay those taxes:
"Worse comes to worse, I'll have to pay the taxes," he told the Daily News on Monday. "I'm not going to return the seats. I have a lot of family and friends who will help me out if need be.
"The IRS has a job to do, so I'm not going to hold it against them, but it would be cool if they helped me out a little on this."
It's unclear from the quote whether the "they" Lopez refers to means the IRS or the Yankees. The IRS could obviously help him out by considering the items he was rewarded as gifts, rather than income. Then he wouldn't owe as much in taxes.
But could Derek Jeter or the Yankees also step in and pay the taxes for Lopez? One tax expert the Daily News spoke to made that very suggestion.
What a buzzkill. Lopez expressed hope that his parents would help him out with whatever taxes he might owe. But they could rightfully point out that some of that memorabilia — not to mention many of those tickets — could be sold off to cover his expenses. (Lopez might have to do that anyway, telling reporters that he still owes more than $100,000 in student loans.)
Lopez being essentially punished for what so many saw as a good deed and selfless act makes for a troubling epilogue to a nice story.
But maybe there's still a happy ending to come.
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Thats' sad... :-\
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what a fuckin retard, could of had 250k
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shock, horror.. we're not all driven by greed
good on him
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shock, horror.. we're not all driven by greed
good on him
I think gluttony is more of his calling-card...
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only in america wouyld this be a damn tax issue ::)
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only in america wouyld this be a damn tax issue ::)
Yeah, cause Europe has those really low tax rates.... ::)
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Yeah, cause Europe has those really low tax rates.... ::)
what does that has to do with returning a ball out of good gesture and all ofa sudde having to pay tax? ???
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what does that has to do with returning a ball out of good gesture and all ofa sudde having to pay tax? ???
He's not paying tax, if he indeed really ends up having to, for returning the baseball, it's because of all the perks the Yanks are giving him. He "might" have to pay taxes on those. He most likely won't and the article was pure speculation.
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He's not paying tax, if he indeed really ends up having to, for returning the baseball, it's because of all the perks the Yanks are giving him. He "might" have to pay taxes on those. He most likely won't and the article was pure speculation.
you sound like a racist.
www.letskillsometime.com/getbig
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you sound like a racist.
www.letskillsometime.com/getbig
;D
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;D
discrete huh? lol
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He's not paying tax, if he indeed really ends up having to, for returning the baseball, it's because of all the perks the Yanks are giving him. He "might" have to pay taxes on those. He most likely won't and the article was pure speculation.
x2
But damn.... I would have sold it and slept well at night.
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discrete huh? lol
As subtle as a concrete block to the head.
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only in america wouyld this be a damn tax issue ::)
What is it about if you earn above a certain amount you owe taxes that is so hard to understand? The gifts are considered earnings and he has to pay his taxes like anyone else, period! Remember the ladies who got the cars from Oprah?
Geez quit bitching people!!
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What is it about if you earn above a certain amount you owe taxes that is so hard to understand? The gifts are considered earnings and he has to pay his taxes like anyone else, period! Remember the ladies who got the cars from Oprah?
Geez quit bitching people!!
::) ::)
Ima tell Uncle Sam to visit your house on Christmas Morning have your kids piggy banks ready
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I read this this morning. More government greed. Leaches.
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::) ::)
Ima tell Uncle Sam to visit your house on Christmas Morning have your kids piggy banks ready
I'm not going on tv announcing what I'm giving them and they are not given interviews to the YES network about it either.
Fatso should have kept his mouth shut
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I read this this morning. More government greed. Leaches.
How else r they supposed to pay the ss checks you were complaining about coach?
::)
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who is that big titted bitch in your avatar, nails?
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This truly pisses me off.
If there are still any virgins saying that the government is anything more than a fucking nanny who just tries to take every fucking penny from you...then they need a Tim Wescott style kick to the throat.
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This truly pisses me off.
If there are still any virgins saying that the government is anything more than a fucking nanny who just tries to take every fucking penny from you...then they need a Tim Wescott style kick to the throat.
So only some people should have to pay taxes?
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So only some people should have to pay taxes?
No gimmick ... why the fuck should he have to pay taxes on gifts from the yankees ?
You explain it.
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No gimmick ... why the fuck should he have to pay taxes on gifts from the yankees ?
You explain it.
I don't know, maybe because the shit is worth upwards of 40k and the law clear...
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I don't know, maybe because the shit is worth upwards of 40k and the law clear...
Conservatives r all bout the "rule of law" till it bites them in da ass, then that law shouldn't b enforced
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You are truly an idiot.
So he should pay taxes on a legit gift from the yankees ... that he probably won't accept now or is forced to sell so his ass won't go to jail for tax evasion.
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what a fuckin retard, could of had 250k
or more. I guess his personal integrity is worth more than $$$.
...as it should be.
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You are truly an idiot.
So he should pay taxes on a legit gift from the yankees ... that he probably won't accept now or is forced to sell so his ass won't go to jail for tax evasion.
Yes he should, it's what the law states
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Yes he should, it's what the law states
The law states you should NEVER EVER go past the speed limit posted.. im sure you follow that law daily ::)
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The law states you should NEVER EVER go past the speed limit posted.. im sure you follow that law daily ::)
But if I do get a ticket for speeding while over it I would have to pay up. If you don't like it, change the law, until then it shouldn't be selectively enforced.
You are letting emotions overwhelm logic
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This actually did catch my attention when this was posted all over NY in the news today. It'll pretty much boil down to the fact, prize vs gift.
On the other hand imagine being in this kid's shoes; Going to a baseball game with your father to have a good time, surprisingly enough you catch a very valuable baseball possibly worth up to 6 figures, then you get approached by Yankees security to go upstairs and sit down with the chairman of the Yankees aka the excellent businessman and be asked "what do you want for the ball?" This kid had no chance at capitalism let alone discuss a deal with a powerful millionaire.
Either way, I think the mob (IRS) want their cut in taxes and it's only fair for the Yankees legal attorneys to help this kid out who's $100,000 in debt of school tuition!
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But if I do get a ticket for speeding while over it I would have to pay up. If you don't like it, change the law, until then it shouldn't be selectively enforced.
You are letting emotions overwhelm logic
Humming on public streets is prohibited on Sundays
Kites may not be flown within the city limits.
Cars may not be driven through the town.
Wheelbarrows with For-Sale signs may not be chained to trees.
It is against the law to make faces at dogs.
Above are real laws that are in place in towns in Illinois as of right now. Stop being a sheep and realize that the government only has 1 real goal...rake in fucking money. ...my point is that how hard do they enforce the laws that there is no money in versus the stuff like taxes on gifts.
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This actually did catch my attention when this was posted all over NY in the news today. It'll pretty much boil down to the fact, prize vs gift.
On the other hand imagine being in this kid's shoes; Going to a baseball game with your father to have a good time, surprisingly enough you catch a very valuable baseball possibly worth up to 6 figures, then you get approached by Yankees security to go upstairs and sit down with the chairman of the Yankees aka the excellent businessman and be asked "what do you want for the ball?" This kid had no chance at capitalism let alone discuss a deal with a powerful millionaire.
Either way, I think the mob (IRS) want their cut in taxes and it's only fair for the Yankees legal attorneys to help this kid out who's $100,000 in debt of school tuition!]
Yankees absolutely should help him, but the IRS should do their job as well
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All Taxation is theft - Josiah Warren
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All Taxation is theft - Josiah Warren
From the party of the pre-emptive war....I guess they pay for themselves
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Jeter ought to just give him like 40k for being so unselfish. Seriously.
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Jeter ought to just give him like 40k for being so unselfish. Seriously.
Lol he would owe a gift tax on it :)
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Jeter ought to just give him like 40k for being so unselfish. Seriously.
This
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This
Nah, Jeter oughta hold a news conference and say he has heard all the talk about how people are saying what a moron this guy is for being so unselfish as to give him the baseball as a gesture for all he has done for the Yankees. Then go on to say how it pisses him off to hear Americans making fun of someone for not being a greedy bastard. Then he should announce he is 1. Paying off the kids college debt 2. giving him a check for 1 million dollars after taxes. Then point out to all the folks who called this kid a dumb ass that the ball was probably worth 250K max, but because he was not greedy, was rewarded for it and came out ahead.
oh wait... this isn't a movie....
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try and do the right thing and you still get fucked.
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why can't jeter give the guy the money for the taxes. IMO he should pay the buy besides doing what he did. he has the money give the guy 50k
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Nah, Jeter oughta hold a news conference and say he has heard all the talk about how people are saying what a moron this guy is for being so unselfish as to give him the baseball as a gesture for all he has done for the Yankees. Then go on to say how it pisses him off to hear Americans making fun of someone for not being a greedy bastard. Then he should announce he is 1. Paying off the kids college debt 2. giving him a check for 1 million dollars after taxes. Then point out to all the folks who called this kid a dumb ass that the ball was probably worth 250K max, but because he was not greedy, was rewarded for it and came out ahead.
oh wait... this isn't a movie....
i agree. jeter would have probably bought the ball later anyways for the 250k so why not give the guy some money