It’s not just team owners who are worried about an Obama presidency.
Agents for major league baseball players are doing some year end tax planning for their athlete-clients in anticipation of an Obama tax increase in 2009 the Chicago Tribune reports:
Obama’s proposal would increase federal income tax on families earning more than $250,000 annually, money that would help finance a decrease for workers and families earning less than $200,000. It’s also possible more income might be subject to the Social Security tax.
Next year’s major league minimum is $400,000. Agent Scott Boras, negotiating eight- and possibly nine-figure deals for free agents Manny Ramirez and Mark Teixeira, already has thought about the possibility of asking for larger signing bonuses payable this year in some of his contracts.
“There’s some consideration to be had with the impact of the election,” he said.
0 responses so far ↓
There are no comments yet...Kick things off by filling out the form below.
Leave a Comment