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Minor League Baseball Player Pays Off Parentsí Mortgage for Christmas
Minor League Baseball Player Pays Off Parentsí Mortgage for Christmas ^ | December 26, 2017 | Ashley Rae Goldenberg

Posted on 12/26/2017 5:15:34 PM PST by Tolerance Sucks Rocks

As a heartwarming Christmas gesture, a newly signed minor league baseball player used part of his draft bonus to pay off his parents’ mortgage.

In a viral video shared on Twitter, Arizona Diamondbacks prospect Pavin Smith tweeted a video of his parents reacting to a letter he wrote detailing that he wants their home to be officially theirs:

(Excerpt) Read more at mrctv.org ...


TOPICS: Business/Economy; Chit/Chat; Local News; Miscellaneous; Society; Sports
KEYWORDS: arizona; baseball; diamondbacks; draftbonus; house; mortgage; parents; payoff
Heartwarming. Video and tweet in original.
1 posted on 12/26/2017 5:15:35 PM PST by Tolerance Sucks Rocks
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To: Tolerance Sucks Rocks

Very nice thing to do by this young man.


2 posted on 12/26/2017 5:18:26 PM PST by AnotherUnixGeek
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To: Tolerance Sucks Rocks

Good Man, and had to be good Parents


3 posted on 12/26/2017 5:23:47 PM PST by easternsky
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To: Tolerance Sucks Rocks

What a great kid. I thought his dad was going to lose it. Imagine how stunned you would be if this happened to you.


4 posted on 12/26/2017 5:24:08 PM PST by McGavin999 ("The press is impotent when it abandons itself to falsehood."Thomas Jefferson)
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To: McGavin999

If something like this happened to me, I would be running my head into the wall to wake myself up. :-)


5 posted on 12/26/2017 5:32:18 PM PST by Tolerance Sucks Rocks (Women prefer men with money and muscles. DUH!)
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To: Tolerance Sucks Rocks

Dang...

Video won’t play for me.


6 posted on 12/26/2017 5:33:40 PM PST by ButThreeLeftsDo (Merry Christmas, Mr. President, and another happy year!)
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To: Tolerance Sucks Rocks

$5 mil to play A ball? Nice thing he did but I didn’t think anyone got that for A ball. Those guys only make about $1500 a month.


7 posted on 12/26/2017 5:34:24 PM PST by rey
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To: rey

Number 7 pick in the draft. Unless he gets hurt he shouldn’t be in A ball very long.


8 posted on 12/26/2017 5:37:56 PM PST by gubamyster
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To: Tolerance Sucks Rocks

Played at UVA http://www.virginiasports.com/sports/m-basebl/mtt/pavin_smith_917402.html


9 posted on 12/26/2017 5:41:32 PM PST by outofsalt ( If history teaches us anything it's that history rarely teaches us anything)
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To: rey
Those guys only make about $1500 a month.

My nephew made it as high as AAA ball in the Nationals organization. First three years were guaranteed at $125K per (had to also play winter ball). He was resigned for two more years at $150K. This was twelve years ago.

He never made it to the bigs, but did well while trying to.

10 posted on 12/26/2017 5:43:21 PM PST by Michael.SF. (Women who are 25 pounds overweight tend to live longer than the men who mention it.)
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To: Michael.SF.

Wow! It used to be pretty bad in the minors. Unlike some other sports, those guys really earned their way into the majors.

I hear if you make a big league appearance and are sent back down, you make the league minimum in the minors.


11 posted on 12/26/2017 5:47:25 PM PST by rey
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To: Tolerance Sucks Rocks

The IRS will zoom in with a nice hefty “Gift Tax” with penalties compounded daily from the time the gift was made.


12 posted on 12/26/2017 5:54:39 PM PST by fella ("As it wshas before Noah so shall it be again,")
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To: rey
Yeah, they only get around $1500 per month in salary, but there are much higher limits on signing bonuses. Obviously, some scouts and people in the front office figure he has the potential to move up to MLB in a very short time.

The young man was wise to show his generosity now rather than wait. He will be blessed because he has blessed others and shown gratitude.

13 posted on 12/26/2017 6:04:13 PM PST by Vigilanteman (ObaMao: Fake America, Fake Messiah, Fake Black man. How many fakes can you fit into one Zer0?)
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To: fella

How the Lifetime Gift Tax Exclusion Works
Don’t confuse the lifetime gift tax exclusion with the annual gift tax exclusion. They’re two separate things, although they work in tandem and interact with the federal estate tax as well.

The annual exclusion is $14,000 as of 2016. You can give away this much money or property to any one individual per year without incurring a gift tax. If you want to give gifts to two people, they can total $28,000. You can give $42,000 to three people, and so on. This exclusion was also indexed for inflation under the ATRA, so it may go up in future years.

If you give someone $20,000 in one calendar year, you have a choice to make. You can either pay the gift tax on the additional $6,000 over the annual exclusion, or you can let your lifetime exemption of $5.45 million cover it.

The Unified Tax Credit
The federal gift tax and estate tax are tied together by something called the Unified Tax Credit. The credit is one single $5.45 million exclusion. You can use it to shelter your estate from taxation when you die, or you can use it to defray the tax burden of giving more than the annual gift tax exclusion amount to any individual per year.


14 posted on 12/26/2017 6:14:37 PM PST by morphing libertarian (Build Kate's Wall)
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To: fella
The IRS will zoom in with a nice hefty “Gift Tax” with penalties compounded daily from the time the gift was made.

No. He will have to file a gift tax return. I don't know how much the mortgage he paid off was, but unless it was at least $5m, which seems unlikely, there will be no gift tax.

15 posted on 12/26/2017 6:43:29 PM PST by KevinB (When you drink the water, remember the men or women who dug the well.)
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To: rey
$5 mil to play A ball? Nice thing he did but I didn’t think anyone got that for A ball. Those guys only make about $1500 a month.

That's what I was thinking. I thought they made almost nothing until (or if) they reached the major leagues.

16 posted on 12/26/2017 7:19:15 PM PST by libertylover (Kurt Schlicter: "They wonder why they got Trump. They are why they got Trump")
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To: KevinB
From the IRS; FAQ on gift tax. $14,000 this year and $15,000 next year.
17 posted on 12/27/2017 1:19:41 AM PST by fella ("As it wshas before Noah so shall it be again,")
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To: fella
From the IRS; FAQ on gift tax. $14,000 this year and $15,000 next year.

That is the annual gift tax exclusion, the amount you can gift to a single person each year without filing a gift tax return. If in any year you gift more than that, you will have to file a gift tax return, but that return will not show any gift tax due until you have gifted more than the unified tax credit, currently about $5.5m.

18 posted on 12/27/2017 1:47:35 AM PST by KevinB (When you drink the water, remember the men or women who dug the well.)
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