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ODD MAN OUT: Why Coach Kiffin Will Stay

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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.

FAU - THE REAL SLEEPING GIANT
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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 1,000,000
Posted On: Nov 22nd 2017, 1:06 PM #373944

brb lemme check da numbas



yeah it checks out or whatever

When I'm not in school, I'm schooling the CUSA Twitter game; Follow Me Here
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Sorry guys, I am thinking fed tax a a million I guess, my bad. Still helps living in Florida though (covers his agents fee at least? Ha ha!)!
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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!  :Big-Grin:
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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, 1:17 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!  :Big-Grin:
Posted On: Nov 22nd 2017, 3:55 PM #373961



I donít 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
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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 1,000,000
Posted On: Nov 22nd 2017, 1:06 PM #373944

brb lemme check da numbas



yeah it checks out or whatever
Posted On: Nov 22nd 2017, 2:38 PM #373954

 :Laughing:

GO OWLS!
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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!  :Big-Grin:
Posted On: Nov 22nd 2017, 4:55 PM #373961



I donít 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
I know.  I review tax returns.
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State tax or not.  We are going to have to pay him $3m+ to stay.  It's just a fact.  Let's get going on it.

Teambeer is the most knowledgeable FAU sports fan I know, way smarter than me.
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Coach was on Paul Finebaum yesterday…

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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 As of this year isn't exiting enough. Great segue to start talking about next year?
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