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Old 08-11-2019, 10:43 PM   #83
Mike F
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Quote:
Originally Posted by Northendzone View Post
Let’s be honest here - if you could work in Chicago or calgary which one would you choose? I’d have to think for a financial/tax perspective Chicago is better for the player.
This is probably way late, but I often hear that it's much better for tax reasons for players to sign in the US, so I actually did a little research...

Based on current US federal and Illinois tax rates, he would pay $2,182,000 in taxes, And have a take-home pay of $2,817,000.

In Canada, and specifically Alberta, after converting his $5 million annual salary to Canadian dollars ($6,610,000), he would pay $3,142,000 Canadian In taxes, and have a take-home pay of $3,468,000 Canadian or $2,623,000 US.

So, obviously there is some difference between him signing in the US versus Canada for tax reasons, but it's not as big as I believe many people think, particularly when you take into account the increased buying power his take home salary would have during that year when converted to Canadian dollars.

Last edited by Mike F; 08-11-2019 at 11:18 PM.
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