Posted on 07/25/2013 2:30:49 PM PDT by grundle
LOS ANGELES (CBSLA.com) — Thanks to his recent wins at both The Open Championship and the Scottish Open, Phil Mickelson pocketed more than $2.16 million in just two weeks.
The world’s top golfer —who came under fire earlier this year when he complained about his supposed 60 percent tax rate as a California resident — is taking another hit on his recent earnings.
According to Forbes, Mickelson has been subjected to the United Kingdom’s 45 percent tax rate for those who make more than £150,000 a year. In addition, the magazine reports, he will be taxed on a portion of the endorsement income he earned during his time in Scotland.
While Mickelson can take a foreign tax credit to avoid being taxed again by the U.S. government, he still has to pay self-employment taxes, the new Medicare surtax, and hand over 13.3 percent of his wages to the state of California, which does not have a foreign tax credit, Forbes reported.
(Excerpt) Read more at losangeles.cbslocal.com ...
He should move to Wyoming or any other state that does not impose an income tax.
I have not heard his political leanings one way or the other, but based on the tax treatment, the IRS would certainly know when I don’t, he is probably a tea-party conservative patriot.
financial rape
One word, “Monaco.”
There is no freakin’ way I would live in Kalifornia another minute and I would publicize why I was moving as well.
We have just as many golf courses here in Texas. Come on over Phil.
The income tax is due where it was earned. The IRS and state revenue departments keep track of professional athletes and ensures that they pay "their fair share".
Wyoming is not hospitable to year round golf, but Florida is, and most professional golfers live in Florida, which has no income tax.
Obama would tell him, “You didn’t win that.”
and if he passes through NYC on his way home he will be charged a city income tax for whatever reason they can come up with
Yeah :)
Phil, come on down to FL. Ernie Els lives just down the street and I just had lunch at Graeme McDowell’s place Nona Blue.
He likes warmth And beaches and palm trees? Florida or Texas, Phil. At least for the state tariff.
So, by the time he’s finished being raped by greedy, corrupt spendthrift governments, he’ll have enough to buy himself a lunch at McDonalds.
Wow....that’s $280G he has to give to Kalifornia....unbelievable...
I'll bet this has crossed his mind a bazillion times and my guess is that he will move in less than a year. No matter how much he likes CA, the tax climate there is going to force high income earners out of the state.
Phil lives in Mexifornia.. THEN he deserves all he gets..
Even a child can deduce when it’s time to move...
Could be hes a democrat which makes it even FUNNY..
Maybe Phil has the civics acumen of a worm...
meaning he drives balls but has none of his own..
He’s crazy not to be in FL or TX.
After paying all that he might have a few bucks left for a burger.
Phil was an early investor in Five Guys, so he gets them for free.
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