There is a lot of sloppy reporting & misunderstanding about the tax situation. I

Jul 24, 2017
10:04:29pm

chilango All-American

believe this is how it works for foreign basketball players, which is the same way it works in most companies for expatriates sent to work overseas:

http://www.cougarboard.com/board/message.html?id=18107618

This message has been modified

Originally posted on Jul 24, 2017 at 10:04:29pm

Message modified by chilango on Jul 24, 2017 at 10:04:55pm

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chilango

Bio page: chilango
Joined: Jul 23, 2009
Last login: Dec 27, 2020
Total posts: 25,771 (33 FO)

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Messages

Author

Time

After taxes, could Jimmer be making more than Derrick Rose next year?

BamaCoug

7/24/17 8:09pm

No.

Baron

7/24/17 8:09pm

I thought that foreign players didn't pay taxes on their salaries. Is that just

BamaCoug

7/24/17 8:13pm

Uncle Sam definitely taxes foreign income

maxpowers

7/24/17 8:14pm

Really? Even if the player resides in the foreign country? Don't think so...

BamaCoug

7/24/17 8:17pm

Oh they do. Uncle Sam always gets his.

Baron

7/24/17 8:19pm

We're just trying to get Jimmer more money, we don't want to break laws -

Avery

7/26/17 8:05am

Yep. Still a US citizen

maxpowers

7/24/17 8:19pm

I live in Canada and still file US income taxes every year. Only country that requires that.

JohnnyComeLately

7/24/17 8:45pm

Do you also pay Canada?

Turbine

7/24/17 9:12pm

My wife filed both USA and Canada taxes for years

ABCoug

7/24/17 9:23pm

Yes

JohnnyComeLately

7/24/17 9:24pm

US tax treaties only apply if you pay more taxes in the country of residence

ABCoug

7/24/17 8:52pm

Foreign bank accounts, baby.

thebruce

7/24/17 8:58pm

In most countries that doesn't work.

Cougar Jazz Fan

7/24/17 9:40pm

You're flat out wrong on this.

BYU-Ite

7/24/17 9:11pm

US Government always gets their money first.

Cougar Jazz Fan

7/24/17 9:37pm

Yes, the US taxes US residents on their global income. I've paid the IRS a large

chilango

7/24/17 9:51pm

There is a lot of sloppy reporting & misunderstanding about the tax situation. I

chilango

7/24/17 10:04pm

Please, go on.

Turbine

7/24/17 8:16pm

As long as you are US Citizen you owe income taxes. If there is a treaty you may get credit for foreign taxes paid.

Baron

7/24/17 8:22pm

While the US still holds you accountable. It's a lot easier to just not pay.

Lance71

7/24/17 8:27pm

Sure. Until you want to ever get a job in the states again. And then it all come

BYU-Ite

7/24/17 9:12pm

Sure, if you want the IRS to seize your assets and send you to prison.

chilango

7/24/17 9:53pm

Which is the point. Since you aren't in the US.

Lance71

7/25/17 11:45am

Sure, if you don't have any assets in the US, or ever plan on entering the

chilango

7/25/17 11:50am

But even the foreign tax credit is limited to a fairly modest amount, by the

chilango

7/24/17 9:52pm

He'll make more 3s too

SJS

7/24/17 8:10pm

Is Jimmer's 1.8M deal for one or two years?

rainorsnow

7/24/17 8:10pm

It's a 2 year, $3.6Mil deal.

BamaCoug

7/24/17 8:11pm

if only there was someone capable of making a spreadsheet to analyze it.

OneUpper

7/24/17 8:11pm

Jimmer will get more per game though

mudpupper

7/24/17 8:34pm

What about state taxes?

ManicBlue

7/24/17 8:36pm

2.1 million for that panzy? What a waste.

COACHdrn

7/24/17 8:45pm

I'm not sure about how this works exactly, but I had two friends working overseas

Adrielle

7/24/17 8:57pm

Right. That's called tax evasion assuming they are both US citizens.

BYU-Ite

7/24/17 9:16pm

This.

Cougar Jazz Fan

7/24/17 9:42pm

I think they both made just over $100k, and their room and board were paid for by the company so

Adrielle

7/25/17 2:00am

Highly unlikely. Halliburton would never let them get away with that, because

chilango

7/24/17 10:12pm

Would it be possible for BYU to play Shanghai in an exhibition?

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