DE Nick Bosa "Smaller Bear" NO POLITICS

Originally posted by tankle104:
Lol yes… his federal income tax is 37%. His state income tax is 13.3%. His agent fee is 10%. His money manager is probably 10%. So in Cali, he pays 50% of his check in taxes Vs in a state like Florida where it's 37% because it's only federal. That's millions in difference ($5.2M difference if his signing bonus is $40M).

so like I said, in California - he immediately loses 50% of his money to federal income taxes and the states income tax. Then 10% goes to his agent. Then whatever else he pays. So at best, he's getting 40% of his income.

when you're only takin home 40% of your total earning, I'd argue that 13.3%, several million, is a major difference. All because of where you live. Lol

lets say of a $40M signing bonus, he takes home $16M (40%). He lost 13.3% (CA state income tax) - which amounts $5.2M.

in other words, he would of taken home 32% more cash than he did and put that in his bank account if he lived somewhere else. Lmao "nothing major". That's why things like "it's only 13.3% of your income" is so dangerous. It's a ton of money compared to what you actually get to take home after everything has taxed you.

CA take home: $16M
FL take home: $21.2M - approx 32% difference

Yeah I thought you were saying somehow CA was some insane difference but it's not. As for the signing bonus itself, it's taxed on your place of primary residence, which is Florida for bosa. I know the original argument was tougher to sign players with state tax so this is a one off.

Originally posted by tankle104:
Lol yes… his federal income tax is 37%. His state income tax is 13.3%. His agent fee is 10%. His money manager is probably 10%. So in Cali, he pays 50% of his check in taxes Vs in a state like Florida where it's 37% because it's only federal. That's millions in difference ($5.2M difference if his signing bonus is $40M).

so like I said, in California - he immediately loses 50% of his money to federal income taxes and the states income tax. Then 10% goes to his agent. Then whatever else he pays. So at best, he's getting 40% of his income.

when you're only takin home 40% of your total earning, I'd argue that 13.3%, several million, is a major difference. All because of where you live. Lol

lets say of a $40M signing bonus, he takes home $16M (40%). He lost 13.3% (CA state income tax) - which amounts $5.2M.

in other words, he would of taken home 32% more cash than he did and put that in his bank account if he lived somewhere else. Lmao "nothing major". That's why things like "it's only 13.3% of your income" is so dangerous. It's a ton of money compared to what you actually get to take home after everything has taxed you.

CA take home: $16M
FL take home: $21.2M - approx 32% difference

His money manager gets 10 percent? Split it between 5.5 percent T Bills, and the S&P 500, at any ratio you choose, and you'll do far better. No money manager beats the S&P over the long run. Hire a top CPA for a flat fee for a few $K to minimize your taxes.

Don't Ever give up control of your money to a money manager. That's how you lose it.

Originally posted by BOI49er:

Originally posted by tankle104:
Lol yes… his federal income tax is 37%. His state income tax is 13.3%. His agent fee is 10%. His money manager is probably 10%. So in Cali, he pays 50% of his check in taxes Vs in a state like Florida where it's 37% because it's only federal. That's millions in difference ($5.2M difference if his signing bonus is $40M).

so like I said, in California - he immediately loses 50% of his money to federal income taxes and the states income tax. Then 10% goes to his agent. Then whatever else he pays. So at best, he's getting 40% of his income.

when you're only takin home 40% of your total earning, I'd argue that 13.3%, several million, is a major difference. All because of where you live. Lol

lets say of a $40M signing bonus, he takes home $16M (40%). He lost 13.3% (CA state income tax) - which amounts $5.2M.

in other words, he would of taken home 32% more cash than he did and put that in his bank account if he lived somewhere else. Lmao "nothing major". That's why things like "it's only 13.3% of your income" is so dangerous. It's a ton of money compared to what you actually get to take home after everything has taxed you.

CA take home: $16M
FL take home: $21.2M - approx 32% difference

His money manager gets 10 percent? Split it between 5.5 percent T Bills, and the S&P 500, at any ratio you choose, and you'll do far better. No money manager beats the S&P over the long run. Hire a top CPA for a flat fee for a few $K to minimize your taxes.

Don't Ever give up control of your money to a money manager. That's how you lose it.

I agree, Eff that. You're better off just putting your money into ETFs. Money managers are good for getting you the ability to invest in different projects (real estate developments etc) but overall I agree.

it's all personal preference where you live, I hated living in Texas - so I left. Some people love it. I'm back on the west coast and I'm happy again. I love the mountains, weather, and being near the ocean.

also, I miss sports being on at a decent time. Lol games are on so late if you're not on the west coast. I love that by 10am here, football is on. Lol

Originally posted by tankle104:

Originally posted by BOI49er:

Originally posted by tankle104:
Lol yes… his federal income tax is 37%. His state income tax is 13.3%. His agent fee is 10%. His money manager is probably 10%. So in Cali, he pays 50% of his check in taxes Vs in a state like Florida where it's 37% because it's only federal. That's millions in difference ($5.2M difference if his signing bonus is $40M).

so like I said, in California - he immediately loses 50% of his money to federal income taxes and the states income tax. Then 10% goes to his agent. Then whatever else he pays. So at best, he's getting 40% of his income.

when you're only takin home 40% of your total earning, I'd argue that 13.3%, several million, is a major difference. All because of where you live. Lol

lets say of a $40M signing bonus, he takes home $16M (40%). He lost 13.3% (CA state income tax) - which amounts $5.2M.

in other words, he would of taken home 32% more cash than he did and put that in his bank account if he lived somewhere else. Lmao "nothing major". That's why things like "it's only 13.3% of your income" is so dangerous. It's a ton of money compared to what you actually get to take home after everything has taxed you.

CA take home: $16M
FL take home: $21.2M - approx 32% difference

His money manager gets 10 percent? Split it between 5.5 percent T Bills, and the S&P 500, at any ratio you choose, and you'll do far better. No money manager beats the S&P over the long run. Hire a top CPA for a flat fee for a few $K to minimize your taxes.

Don't Ever give up control of your money to a money manager. That's how you lose it.

I agree, Eff that. You're better off just putting your money into ETFs. Money managers are good for getting you the ability to invest in different projects (real estate developments etc) but overall I agree.

it's all personal preference where you live, I hated living in Texas - so I left. Some people love it. I'm back on the west coast and I'm happy again. I love the mountains, weather, and being near the ocean.

These guys are too young to get involved in real estate developments or other projects. Let them figure that out when they're done playing and have the time to watch it themselves.

I kinda liked Texas, but I really like 85 percent mountainous Idaho, but I still keep a small cabin in Tahoe, Ca, and a sailboat in Ventura for my ocean fix, where I am now. Personal preference.

Originally posted by 5_Golden_Rings:
That's the premium for living in a way better state—if you have money, of course. If you're well off, California is superior to Florida except for like a couple of spots and proximity to the Caribbean.

And hurricanes every year. Insurance if you can get it is pretty high also. My brother-in-law lives in Fort Myers's and his house is f@@@ed up now from 2 storms in the last 4 years. Storm surge is no joke and having boats and stuff in your backyard and or roof is no fun either. Just saying. Pick your poison.

Originally posted by tankle104:

Originally posted by bassmanr:

Originally posted by tankle104:

Originally posted by frenchmov:

Originally posted by tankle104:
Let's say bosa gets a $40M signing bonus, he will take home about 40% of it. He will be at the top of the bracket in Cali, so that's about half. Then he will have to pay 10% to his agent, 5-10% for a money manager.

so it's possible that out of $40M he would take home like $15M. Still a lot of money but not the same as taking home $25M or so like he would in a state like Texas and Florida.

Someone like bosa should negotiate where the team has to pay his agent or at least half of what his agent should get. As a way to offset the ridiculous tax burden anyone on the team will get.

You do understand that there are 2 sets of taxes, correct? The CA yearly income tax, at its highest level, is about 13%. So when people say "half my taxes!!!" they're talking about an all-in, state/federal/social security/etc.

The argument here is playing in Florida (0%) vs playing in CA (13% ) of those particular game checks. It's difference obviously, but not major

Lol yes… his federal income tax is 37%. His state income tax is 13.3%. His agent fee is 10%. His money manager is probably 10%. So in Cali, he pays 50% of his check in taxes Vs in a state like Florida where it's 37% because it's only federal. That's millions in difference ($5.2M difference if his signing bonus is $40M).

so like I said, in California - he immediately loses 50% of his money to federal income taxes and the states income tax. Then 10% goes to his agent. Then whatever else he pays. So at best, he's getting 40% of his income.

when you're only takin home 40% of your total earning, I'd argue that 13.3%, several million, is a major difference. All because of where you live. Lol

lets say of a $40M signing bonus, he takes home $16M (40%). He lost 13.3% (CA state income tax) - which amounts $5.2M.

in other words, he would of taken home 32% more cash than he did and put that in his bank account if he lived somewhere else. Lmao "nothing major". That's why things like "it's only 13.3% of your income" is so dangerous. It's a ton of money compared to what you actually get to take home after everything has taxed you.

CA take home: $16M
FL take home: $21.2M - approx 32% difference

California taxes are too high however I've been to Florida, would you like to live there? Unless it was the Keys stock up on Meth. Yes it sucks but all around its better in California.

I grew up in Cali and lived in other states, once I started making more money - yeah, Cali is an awesome place to live, but there are other places to live that are just as great but cheaper, IMO. I love Cali though - doesn't change the fact it's expensive Af. I would never base my business or anytbing out of it, pointless and extra costs for no reason.

Colorado is nice as well but cold in winter. I just don't know another place that is better so I pay all my money in taxes. I do wish the taxes were lower though. Unfortunately every time a politician says there gonna lower my taxes they just lower it for people who make a lot more than I do lol.

Originally posted by bassmanr:

Originally posted by tankle104:

Originally posted by frenchmov:

Originally posted by tankle104:
Let's say bosa gets a $40M signing bonus, he will take home about 40% of it. He will be at the top of the bracket in Cali, so that's about half. Then he will have to pay 10% to his agent, 5-10% for a money manager.

so it's possible that out of $40M he would take home like $15M. Still a lot of money but not the same as taking home $25M or so like he would in a state like Texas and Florida.

Someone like bosa should negotiate where the team has to pay his agent or at least half of what his agent should get. As a way to offset the ridiculous tax burden anyone on the team will get.

You do understand that there are 2 sets of taxes, correct? The CA yearly income tax, at its highest level, is about 13%. So when people say "half my taxes!!!" they're talking about an all-in, state/federal/social security/etc.

The argument here is playing in Florida (0%) vs playing in CA (13% ) of those particular game checks. It's difference obviously, but not major

Lol yes… his federal income tax is 37%. His state income tax is 13.3%. His agent fee is 10%. His money manager is probably 10%. So in Cali, he pays 50% of his check in taxes Vs in a state like Florida where it's 37% because it's only federal. That's millions in difference ($5.2M difference if his signing bonus is $40M).

so like I said, in California - he immediately loses 50% of his money to federal income taxes and the states income tax. Then 10% goes to his agent. Then whatever else he pays. So at best, he's getting 40% of his income.

when you're only takin home 40% of your total earning, I'd argue that 13.3%, several million, is a major difference. All because of where you live. Lol

lets say of a $40M signing bonus, he takes home $16M (40%). He lost 13.3% (CA state income tax) - which amounts $5.2M.

in other words, he would of taken home 32% more cash than he did and put that in his bank account if he lived somewhere else. Lmao "nothing major". That's why things like "it's only 13.3% of your income" is so dangerous. It's a ton of money compared to what you actually get to take home after everything has taxed you.

CA take home: $16M
FL take home: $21.2M - approx 32% difference

California taxes are too high however I've been to Florida, would you like to live there? Unless it was the Keys stock up on Meth. Yes it sucks but all around its better in California.

Well I live in Tennessee, where we have no state income tax - and I can tell you people have been moving here from California like crazy for the last year or two!!!

Originally posted by BOI49er:
These guys are too young to get involved in real estate developments or other projects. Let them figure that out when they're done playing and have the time to watch it themselves.

I kinda liked Texas, but I really like 85 percent mountainous Idaho, but I still keep a small cabin in Tahoe, Ca, and a sailboat in Ventura for my ocean fix, where I am now. Personal preference.

I love Tahoe and Ventura, both excellent places to spend time. Idaho has some really beautiful areas. I just passed through Colorado & Idaho recently, some really great nature to drive through.

Texas is just so flat and crappy weather. I lived in Dallas and I didn't like that if I drove 10 hours in any direction - I was either in El Paso, Houston, Oklahoma, or Louisiana. Lol not my style, too boring and not pretty enough

Originally posted by RDB4216:
Well I live in Tennessee, where we have no state income tax - and I can tell you people have been moving here from California like crazy for the last year or two!!!

Yeah hahah I was just talking to a buddy who just moved out to Nashville. A couple other folks I know are out there now too. I've only been to Chattanooga during the fall and I thought it was a beautiful area. I've heard great things about partying in Nashville too.

Originally posted by tankle104:

Originally posted by BOI49er:
These guys are too young to get involved in real estate developments or other projects. Let them figure that out when they're done playing and have the time to watch it themselves.

I kinda liked Texas, but I really like 85 percent mountainous Idaho, but I still keep a small cabin in Tahoe, Ca, and a sailboat in Ventura for my ocean fix, where I am now. Personal preference.

I love Tahoe and Ventura, both excellent places to spend time. Idaho has some really beautiful areas. I just passed through Colorado & Idaho recently, some really great nature to drive through.

Texas is just so flat and crappy weather. I lived in Dallas and I didn't like that if I drove 10 hours in any direction - I was either in El Paso, Houston, Oklahoma, or Louisiana. Lol not my style, too boring and not pretty enough

I can't argue with any of that. I just loved the people, the bird hunting, and the state taxes in Texas. We're getting an incredible number of Californians in Idaho, and we Have a state tax system. Go figure.

Originally posted by tankle104:

Originally posted by RDB4216:
Well I live in Tennessee, where we have no state income tax - and I can tell you people have been moving here from California like crazy for the last year or two!!!

Yeah hahah I was just talking to a buddy who just moved out to Nashville. A couple other folks I know are out there now too. I've only been to Chattanooga during the fall and I thought it was a beautiful area. I've heard great things about partying in Nashville too.

Interesting yeah had a guitarist I used to play with in LA and he loves it in Nashville Bought a lot more house there and good music scene as well. I don't know sometimes with the cost here it is interesting too look at other places. I just like California to much.

Which tread is this?

Originally posted by Jeepzilla:
Which tread is this?

The anti Cali tax but love what it offers thread. Lol since bosa is breaking all our hearts :(

Originally posted by Jeepzilla:
Which tread is this?

The "Bosa needs to hurry up so everyone can stop talking about states and taxes" thread.