Quote:
Originally Posted by Mr.Coffee
Ohio taxes on $9.75MM = After-tax income is $5.715MM (according to Forbes tax calculator)
Alberta taxes on $10.5MM = After-tax income is $5.491MM (according to turbo tax calculator).
So in essence he is better off $224K per year in CLB which is $1.568MM over 7 years, but he gave up 1 year of $5.491MM so he's worse off by $3.923MM in after tax dollars undiscounted.
So you're trading just under $4MM to live kinda closer to home and be out of the spotlight. To me that's a wildly expensive trade / price but what do I know and to each their own.
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Depending on structure it could be more or less. Taxes are paid where you play as I understand it. The bonus part is therefore huge - it’s taxed where he is when he gets it. If he got fancy tax planning in Canada it could be a lot different.