|
|
| A Curveball From the New Tax Law: It Makes Baseball Trades Harder (1503900) | |
 |
|
| Home > OTChat | |
[ Post a New Response | Return to the Index ]
|
| (1503900) | |
A Curveball From the New Tax Law: It Makes Baseball Trades Harder |
|
|
Posted by Dave on Tue Mar 20 17:41:53 2018 Sports franchises could now face capital gains taxes every time they exchange or trade their highly paid players. |
|
|
| (1503904) | |
Re: A Curveball From the New Tax Law: It Makes Baseball Trades Harder |
|
|
Posted by AlM on Tue Mar 20 17:58:05 2018, in response to A Curveball From the New Tax Law: It Makes Baseball Trades Harder, posted by Dave on Tue Mar 20 17:41:53 2018. That's why Congress used to hold hearings before passing legislation. (Yes, I know they held hearings, but not on the legislative proposals that actually got put to a vote.) |
|
|
| (1503913) | |
Re: A Curveball From the New Tax Law: It Makes Baseball Trades Harder |
|
|
Posted by Stephen Bauman on Tue Mar 20 18:30:18 2018, in response to A Curveball From the New Tax Law: It Makes Baseball Trades Harder, posted by Dave on Tue Mar 20 17:41:53 2018. Sports club owners' income tax liability is already shielded by depreciation on the value of the players. The scheme was hatched by Bill Veeck Jr, who at one time owned in whole or part the Cleveland Indians, St. Louis Browns and Chicago White Sox.The sports franchise purchase price is divided between the value of the team's physical assets and its players. The players' value is depreciated each year as an expense against income. Once the players have been fully depreciated, the owner sells the franchise so another person can start the depreciation game all over again. The depreciation gets added to the profit on the sale. However, the profit is taxed at the much lower capital gains rate. There already is a valuation of the players for depreciation purposes. |
|
|
| (1503921) | |
Re: A Curveball From the New Tax Law: It Makes Baseball Trades Harder |
|
|
Posted by bingbong on Tue Mar 20 18:41:12 2018, in response to A Curveball From the New Tax Law: It Makes Baseball Trades Harder, posted by Dave on Tue Mar 20 17:41:53 2018. There's a whole bunch of these......bottom line, if you rush a tax cut without figuring it through, you're going to fuck it up. |
|
|