Muhast
Newo
- Messages
- 7,661
- Reaction score
- 368
http://sports.yahoo.com/mlb/blog/bi...we-taxes-on-rewards-for-Jeter?urn=mlb-wp12427
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.
-------------------------------------
Nice gesture, but there is zero chance I'm giving back the ball and not getting paid for it. It's part of the deal, you goto the game and catch the ball it is yours to keep. (Also yours to sell). I would obviously give the ball to the Yanks/Jeter b/c it is worth more to them than it is to me.
To me, that ball is a great memory but that doesn't help me pay off my house or student loans, or help my family etc. If somebody wants to pay you upwards of 250,000 for a ball, why in the world would you give it back for nothing? Just my opinion though, I'm sure there are fans that would want to be paid and some(probably way less) that would do the same thing as Lopez.
I hope the Yankees or Jeter helps him out with his tax bill. Otherwise he is most likely in a lot of financial trouble.
The average ticket to that game was 180 bucks. If he sold the bats and balls with Jeter's autograph he still isn't even close to $14,000.
He could sell the game tickets as well to try to pay for it I guess.
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.
-------------------------------------
Nice gesture, but there is zero chance I'm giving back the ball and not getting paid for it. It's part of the deal, you goto the game and catch the ball it is yours to keep. (Also yours to sell). I would obviously give the ball to the Yanks/Jeter b/c it is worth more to them than it is to me.
To me, that ball is a great memory but that doesn't help me pay off my house or student loans, or help my family etc. If somebody wants to pay you upwards of 250,000 for a ball, why in the world would you give it back for nothing? Just my opinion though, I'm sure there are fans that would want to be paid and some(probably way less) that would do the same thing as Lopez.
I hope the Yankees or Jeter helps him out with his tax bill. Otherwise he is most likely in a lot of financial trouble.
The average ticket to that game was 180 bucks. If he sold the bats and balls with Jeter's autograph he still isn't even close to $14,000.
He could sell the game tickets as well to try to pay for it I guess.
Taxes paid of course.