ODD MAN OUT: Why Coach Kiffin Will Stay
Posted
Wise Owl
Member since 2007
Yes I used to do taxes for a living.
FAU - THE REAL SLEEPING GIANT
Posted
Wise Owl
Member since 2016
Typing slow for owlmart said
Typing slow for Owlmart:
I said to NET $1 mill
Florida: Gross $1,667,000 x 40% tax rate = $666,800 in taxes or NET $1,000,0000
CA Gross $2,128,000 x 13% state rate = 276,640
x 40% fed tax rate = 852,200
total tax $1,127,840 or NET 1,000,000Posted On: Nov 22nd 2017, 1:06 PM #373944
brb lemme check da numbas
yeah it checks out or whatever
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VIP DONOR
Member since 2008
Posted
VIP DONOR
Member since 2009
illinoisowl said
one thing that everyone is forgetting is $1mil is GROSS income. It is not AGI or taxable income. Everyone is going to have a different tax situation. Donations, Mortgage interest, Medical, 401k, etc. The Schmidt family is going to give away $15mil to FAU. I don't know what increments.
Yes I used to do taxes for a living.Posted On: Nov 22nd 2017, 2:17 PM #373952
The guest said they were taking a rough estimate which is fine; however, their methodology was way off…They nearly doubled their tax rate!
Posted
Wise Owl
Member since 2007
owlmart said
illinoisowl said
one thing that everyone is forgetting is $1mil is GROSS income. It is not AGI or taxable income. Everyone is going to have a different tax situation. Donations, Mortgage interest, Medical, 401k, etc. The Schmidt family is going to give away $15mil to FAU. I don't know what increments.
Yes I used to do taxes for a living.Posted On: Nov 22nd 2017, 2:17 PM #373952
The guest said they were taking a rough estimate which is fine; however, their methodology was way off…They nearly doubled their tax rate!Posted On: Nov 22nd 2017, 4:55 PM #373961
I don’t want to kick a dead horse but people who makes incomes like you are talking about have good cpas and tax plan very well. But that is outside the scope of this discussion.
FAU - THE REAL SLEEPING GIANT
Posted
Wise Owl
Member since 2005
Jack D Whidden III said
Typing slow for owlmart said
Typing slow for Owlmart:
I said to NET $1 mill
Florida: Gross $1,667,000 x 40% tax rate = $666,800 in taxes or NET $1,000,0000
CA Gross $2,128,000 x 13% state rate = 276,640
x 40% fed tax rate = 852,200
total tax $1,127,840 or NET 1,000,000Posted On: Nov 22nd 2017, 1:06 PM #373944
brb lemme check da numbas
yeah it checks out or whateverPosted On: Nov 22nd 2017, 2:38 PM #373954
GO OWLS!
Posted
VIP DONOR
Member since 2009
I know. I review tax returns.illinoisowl said
owlmart said
illinoisowl said
one thing that everyone is forgetting is $1mil is GROSS income. It is not AGI or taxable income. Everyone is going to have a different tax situation. Donations, Mortgage interest, Medical, 401k, etc. The Schmidt family is going to give away $15mil to FAU. I don't know what increments.
Yes I used to do taxes for a living.Posted On: Nov 22nd 2017, 2:17 PM #373952
The guest said they were taking a rough estimate which is fine; however, their methodology was way off…They nearly doubled their tax rate!Posted On: Nov 22nd 2017, 4:55 PM #373961
I don’t want to kick a dead horse but people who makes incomes like you are talking about have good cpas and tax plan very well. But that is outside the scope of this discussion.Posted On: Nov 22nd 2017, 6:59 PM #373962
Posted
VIP DONOR
Member since 2006
Teambeer is the most knowledgeable FAU sports fan I know, way smarter than me.
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Administrator
Member since 2006
Q: What is your level of interest to leave after one year and go to one of these so called big jobs?
"Ten years ago…yes you take jobs like this to help them win…then a lot of times you move on and go to an elite top 10 type job…Coaches at a different place think differently than they used to, and I love it here and love all of it besides just the coaching."
"We've got some transfers sitting out that are dynamic NFL type players that are waiting to play next year…this could be something extremely special…that's pretty special to think about."
COMPLETE RECAP - ODD MAN OUT: Why Coach Kiffin Will Stay - FAU Owl's Nest
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Wise Owl
Member since 2013
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