The Billionaire Playbook: How Sports Owners Use Their Teams to Avoid Millions in Taxes

[yankees60]

https://www.propublica.org/article/the- ... s-in-taxes


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.

[WiseOne]

"The Middle Class Tax Avoidance Playbook: How the 99% avoid collectively millions in taxes."

Who here hasn't fibbed a little on things like charitable deductions (yeah IRS, how are you going to prove that I didn't pitch a bunch of clothes into the collection bin, or drop dollar bills into the collection basket at church?)? C'mon, let's see some hands.

I'm sure there are people out there who make sure to pay every last cent they possibly can to Uncle Sam. Well, maybe one or two.

[Kriegsspiel]

"The Middle Class Tax Avoidance Playbook: How the 99% avoid collectively millions in taxes."

Who here hasn't fibbed a little on things like charitable deductions (yeah IRS, how are you going to prove that I didn't pitch a bunch of clothes into the collection bin, or drop dollar bills into the collection basket at church?)? C'mon, let's see some hands.

I'm sure there are people out there who make sure to pay every last cent they possibly can to Uncle Sam. Well, maybe one or two.

I don't lie on my taxes. I avoid all the taxes I legally can, just like the rich people (shit, like everyone) that Pro Publica is being such a fuckwicket about. Like many things nowadays, the lefties used to be on board with tax avoidance motivated by, for example anti-war activism.

[pp4me]

I have never claimed any deduction I didn't think I was entitled to but I have claimed a good number for which I could not show proper documentation if I was ever audited.

Not talking about big bucks though. Just little things I figured the IRS wouldn't waste their time on and if they did it wouldn't be a big deal (unless I worked for Donald Trump).

[Tortoise]

Before Amazon started collecting state sales tax in 2017, I’m pretty sure that 100% of their customers diligently reported all of their Amazon purchases on their state tax returns to make sure they paid every cent of their state sales tax.

[pp4me]

Oh, I forgot. Here in Florida we used to have an "intangibles" tax where you were supposed to pay something like 1% of all the money you held at a bank or any institution having anything to do with Florida. It may even be on the books as far as I know but it has been ignored for so long that nobody pays any attention to it.

[yankees60]

Before Amazon started collecting state sales tax in 2017, I’m pretty sure that 100% of their customers diligently reported all of their Amazon purchases on their state tax returns to make sure they paid every cent of their state sales tax.

That is called a "use" tax. And, I've always stated that that HAS to be the most LEAST obeyed tax law.

[Tortoise]

Before Amazon started collecting state sales tax in 2017, I’m pretty sure that 100% of their customers diligently reported all of their Amazon purchases on their state tax returns to make sure they paid every cent of their state sales tax.

That is called a "use" tax. And, I've always stated that that HAS to be the most LEAST obeyed tax law.

Are you telling me that most Americans are technically tax evaders, Vinny? That is shocking news. That means we're no better than the tax-evading billionaire sports team owners!

[yankees60]

Before Amazon started collecting state sales tax in 2017, I’m pretty sure that 100% of their customers diligently reported all of their Amazon purchases on their state tax returns to make sure they paid every cent of their state sales tax.

That is called a "use" tax. And, I've always stated that that HAS to be the most LEAST obeyed tax law.

Are you telling me that most Americans are technically tax evaders, Vinny? That is shocking news. That means we're no better than the tax-evading billionaire sports team owners!

It's a matter of degrees.

Some people buy nothing out of state that comes into their home state that charges a sales tax. I know some states have no income taxes. I guess there are NO states that do not have sales / use taxes?

But the amount that people are not declaring for use taxes pales next to the amounts not paid by those who get a say in how the tax code gets written and who will most benefit from certain portions of it.