Comments on: Jackson, Nicks scam Uncle Sam, legally

By: bluebongzilla

bluebongzilla — Sat, 29 Dec 2012 07:19:48 +0000

“They backloaded the contracts signed in the uncapped year, with the intent of stashing money to give the appearance that their cap situation was lower than it actually was, when it was done with the sincere intent to skirt the rules.”

What part of “there were no salary cap rules” do you people not understand?

I bet Jackson and Nicks voted for Obama.

By: gt40bear

gt40bear — Sat, 29 Dec 2012 01:57:20 +0000

Ironically, they both probably voted for obama and his soak the rich policies. Good job guys, stick it to ‘your’ man. Love it.

By: klutch14u

klutch14u — Sat, 29 Dec 2012 00:10:16 +0000

How dare they use completely legal “tricks” to avoid giving the govt more money to waste.

All the baby’s out there need to realize, if they didn’t make it so damned complicated people wouldn’t have “loopholes” to find.

By: briang123

briang123 — Fri, 28 Dec 2012 22:24:49 +0000

How dare they not pay their fair share? Millions of Obama voters are depending on those taxes.

By: duncanthecat

duncanthecat — Fri, 28 Dec 2012 21:32:51 +0000

Tax avoidance with any means is envogue.

Congrats and hopefully all players arer lowering their taxes via any means possible.

Let the free loaders loath in their wallow.

By: jamaltimore

jamaltimore — Fri, 28 Dec 2012 21:31:45 +0000

No one is offended that a guy being paid the same amount in 2013 will be paying 600K more in taxes to the federal government?

I’m no milllionaire but that’s real dollars people and for a rookie running back who may get one big pay day next year and then never again that’s a heck of a lot of money to lose for your once in a lifetime contract.

By: eatitfanboy

eatitfanboy — Fri, 28 Dec 2012 21:29:34 +0000

A “legal” scam?

Are you sure you used to be a lawyer?

By: grudenthediva

grudenthediva — Fri, 28 Dec 2012 21:06:49 +0000

“All these guys making Romney-like moves to save on taxes.”

If they had, they’d be paying $100k or less.

They only wish they were taking advantage of Rmoney’s loophole…er…”carried interest” tricks

By: themagicfanguy

themagicfanguy — Fri, 28 Dec 2012 21:03:21 +0000

Mr. Wright, you are correct. The Skins and ‘Boys DID backload contracts in the uncapped year. What you failed to mention is that it was perfectly LEGAL to do so. Was it a bit shady? Yes. Does that matter? No. Just because the other owners collectively decided NOT to do so, does not mean that the Skins and Cowboys were breaking any ACTUAL rules.
Perhaps before you insult the education system, and other commenter’s intelligence, maybe YOU should do some research. You say that they are parroting others, yet I think you are just arguing due to some non-conformist point of view.

By: johnnyoclock

johnnyoclock — Fri, 28 Dec 2012 20:55:26 +0000

Lord knows the government would have just wasted that extra million anyway. Good for them

By: shackdelrio

shackdelrio — Fri, 28 Dec 2012 20:53:15 +0000

So are we to assume that NBC’s parent company doesn’t do everything legally possible to pay as little as possible in taxes?

By: Mr. Wright 212

Mr. Wright 212 — Fri, 28 Dec 2012 20:43:05 +0000

tbpdog says: Dec 28, 2012 3:28 PM

Mr Wright…why don’t you explain to everyone how what Dallas and the Redskins did was “illegal” when it was not against any NFL rule……we will be waiting.

The other owners just wanted to punish Dallas and Washington for not colluding (which is actually illegal) to keep salaries low.

And yeah, the Bucs suck even worse than Dallas and Washington, who at least have a shot to make the playoffs..so keep pounding your chest over you cap space.
————————–

They backloaded the contracts signed in the uncapped year, with the intent of stashing money to give the appearance that their cap situation was lower than it actually was, when it was done with the sincere intent to skirt the rules. This was explained months ago, but then again, people like you would rather parrot what you hear everyone else say, than to conduct actual research. The American Education System continues to show massive examples of failure with every post on this site.

By: skinsrollyou

skinsrollyou — Fri, 28 Dec 2012 20:38:34 +0000

The redskins and cowboys did nothing illegal or against the rules moron.

By: mecheng04

mecheng04 — Fri, 28 Dec 2012 20:28:43 +0000

thegreatgabbert says:
Dec 28, 2012 2:56 PM
I think the government will get most of that back in increased corporate taxes on the team next season, would they not? From the team point of view it would reduce their profit margin in 2012, with it’s lower tax burden, and presumably increase the profit margin by a corresponding amount in 2o13.
———————————————–
@thegreatgabbert

I don’t think so. The team is still spending the same amount of money and the corporate tax rate is 35%. At this time, it’s not changing with the 39.6% personal income tax rate. All things being equal, whatever they won’t pay this year, they’ll pay next year.

By: tbpdog

tbpdog — Fri, 28 Dec 2012 20:28:37 +0000

Mr Wright…why don’t you explain to everyone how what Dallas and the Redskins did was “illegal” when it was not against any NFL rule……we will be waiting.

The other owners just wanted to punish Dallas and Washington for not colluding (which is actually illegal) to keep salaries low.

And yeah, the Bucs suck even worse than Dallas and Washington, who at least have a shot to make the playoffs..so keep pounding your chest over you cap space.

By: CKL

CKL — Fri, 28 Dec 2012 20:16:43 +0000

I am not sure how much financial expertise agents have vis a vis tax planning. I would hope most players (and really anyone) have good financial planners/accountants they use. That’s more their bailiwick.

By: johnnyjagfan

johnnyjagfan — Fri, 28 Dec 2012 20:12:16 +0000

Ha! All these guys making Romney-like moves to save on taxes.

By: nflfan1

nflfan1 — Fri, 28 Dec 2012 20:01:01 +0000

Only wish they had provided a name. I can always use a good accountant.

By: thegreatgabbert

thegreatgabbert — Fri, 28 Dec 2012 19:56:33 +0000

I think the government will get most of that back in increased corporate taxes on the team next season, would they not? From the team point of view it would reduce their profit margin in 2012, with it’s lower tax burden, and presumably increase the profit margin by a corresponding amount in 2o13.

By: BigBeachBall

BigBeachBall — Fri, 28 Dec 2012 19:49:57 +0000

We all should have mitt romneys accountant.

By: mecheng04

mecheng04 — Fri, 28 Dec 2012 19:43:51 +0000

Poor Uncle Sam is only going to get $8.67 million from those two guys rather than the $9.81 million that they’re entitled to.

There’s those rich people not paying their “fair share” again…

By: gbrim21

gbrim21 — Fri, 28 Dec 2012 19:38:05 +0000

Newsflash: it’s not a scam when it’s legal. It’s what we call tax planning.

By: byzr

byzr — Fri, 28 Dec 2012 19:34:26 +0000

having a good accountant/agent isn’t really much of a scam is it?

By: Mr. Wright 212

Mr. Wright 212 — Fri, 28 Dec 2012 19:33:23 +0000

See, Skins and Cowboys fans, that’s how you do it. Instead of actually illegally backloading deals and blaming Mara because you got caught, when the rest of the owners made the decision to sanction, not Mara ha.

By: timbuttrum

timbuttrum — Fri, 28 Dec 2012 19:32:07 +0000

Underspending and violating the “spirit of the cap” for all of those years is really paying dividends for the Bucs now.

By: jeremywflores

jeremywflores — Fri, 28 Dec 2012 19:29:48 +0000

Impressive.