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Posts Tagged ‘nfl’

Are you a sports fan? No…no…I know you like sports; that’s evidenced by the fact that you’re wearing a Kobe Bryant jersey despite clearly being in your late 30s. But do you really know sports?

Perhaps we should enlist a quantitative approach to separate the fans from the frauds. If you’re feeling confident, below is a quiz carefully designed to gauge your general sports knowledge.  Best of luck.

1. Michael Vick is best known for:

a. leading a marginally talented Atlanta Falcons team to the 2004 NFC Championship game

b. serving prison time for operating a viciously inhumane dog fighting ring

c. becoming  the first African-American quarterback to be drafted with the #1 overall pick

d. seeking treatment for a particularly persistent STD under the alias “Ron Mexico”

Answer: d. While a through c were quite notable on their own, none of them gave rise to the 21st century’s greatest invention: the Ron Mexico name generator.

 2. Math question: Please show all work. If Tiger Woods wins 72 PGA tour events, 14 Major Championships, and spends 545 weeks as the #1 ranked player in golf while sleeping with 11 different women outside of marriage,  what will his divorce settlement cost him?

 a. $110,000,000

b. a lifetime supply of Gatorade Performance Series Protein Recovery shakes

c.  three green jackets

d.  his worldwide reputation

Answer:  a. While d. might appear to be the correct answer, his previous rampant infidelity will be forgiven the minute he wins another Major and America heralds him for his “comeback.”

3. The 2011 NBA lockout ended after:

a. 30 days

b. 3 days

c. the lockout ended?

d. 149 days

Answer: c. The NBA is unwatchable.

4. Which of the following statements is false:

a. NY Jets’ cornerback Antonio Cromartie has fathered nine kids with eight different women

b. “Who should I start at wide receiver this week?” has replaced “Why are we here?” as mankind’s leading question for God

c. 2011 NL MVP Ryan Braun is currently serving a 50-game suspension for steroid use

d. While you were taking this quiz, Antonio Cromartie fathered yet another child with yet another woman

Answer: d. but only on a technicality!

5. Tim Tebow is most accurately described as:

 a. a devout Christian

 b. a lovely young man and solid role model  

 c. a below-average NFL quarterback 

 d. all of the above

Answer: d. Kudos to you for understanding that a, b, and c are not mutually exclusive options. You can be both a great person and an awful passer of the football.

Did you score a 20% or better? CONGRATULATIONS! You’re the type of guy or gal Deadspin had in mind when they published A Guide For Sports Fans (And Would-Be Plutocrats) To Doing Your Taxes.

That’s right; Deadspin – the once underground, now-mainstream sports blog that brought the world Ron Mexico, Chris Berman’s preferred pick-up line, and Brett Favre’s alleged text message seduction of Jenn Sterger — has now delved into the world of tax law.

Some highlights include:

Your bookie probably won’t give you a W-2G
For those of you who enjoy sporting events more when you’ve placed hasty wagers on the games, gambling is an important part of your tax return. “What? You mean my hot streak of victories guided by betting against Mark Sanchez that paid for my new 106-inch projector television is related to my taxes?” Yep! And it doesn’t matter if your bookie doesn’t give you a W-2G (don’t bother asking for one); those winnings are taxable.

You can deduct those personal seat license fees Alma Mater is chiseling out of you
What about tickets for your alma mater or favorite college sports team? Well, this is a tricky one, so read carefully. Under Publication 526 for 2011, if you donate money to the school and that donation gives you the right to purchase tickets to an athletic event, you can deduct 80 percent of the donation. If you are simply shelling out money for tickets, then that does not qualify as a charitable contribution.

Violent rec sports can be good for your tax return
Start playing in your hockey rec league again or some other high-collision, injury-rich sport. Medical and dental expenses are deductible but are subject to a 7.5 percent floor of your adjusted gross income. What does that mean? You need to play hard.
Really hard.

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In a move made popular by so many retirees tired of the rat race, Rutgers University football coach Greg Schiano is fleeing the Garden State for the palm trees and sandy beaches of Florida. Schiano is not heading south to live out his days playing shuffleboard and poaching the early-bird specials, however. To the contrary, he just accepted a 5-year contract to coach the NFL’s Tampa Bay Buccaneers.

Schiano leaves New Jersey as the State’s highest paid public employee, with an annual salary approaching $2,400,000. Now, Schiano’s salary with the Bucs is yet to be disclosed, but even if it doesn’t represent a raise from his annual Rutgers wage, Schiano stands to put an additional $175,000 a year in his pocket each year. How can I know this?

Tax rates, of course.

Schiano is leaving New Jersey, a state with a top personal tax rate of 8.97%, for Florida, which has no personal income tax. So assuming Schiano was raking in a total of $3,000,000 per year at Rutgers[i] and continues to do so as coach of Tampa Bay, by shifting his domicile to Florida, he stands to save $173,307 per year in state income tax.[ii]

Clearly, the Buccaneers have some attractive assets — most notably, a young, highly regarded QB Josh Freeman, a talented defensive line rotation and a dynamic wide-out Mike Williams —  that would appeal to any coach. But from Schiano’s perspective, saving 8.97% a year in taxes may be the sweetest plum of all.


[i] Given the high price he could command for running camps, speaking engagements, etc… additional income of $600,000 per year is probably a reasonable estimate

[ii] after accounting for the federal benefit for the state taxes paid to New Jersey.

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It’s been a rough year for NFL quarterback Kyle Orton.

First, he lost his job as the starting QB of the Denver Broncos to Tim Tebow, who promptly captivated the nation by leading the Broncos back to relevancy despite a glaring inability to throw a forward pass with any semblance of accuracy.  As if that weren’t insult enough, Orton was subsequently granted his outright release, while Tebow’s flair for the dramatic and outspoken Christian faith have led some lunatics observers to hint at divine intervention.  

Then, Orton and his unceremonious ouster from Denver were lampooned in this piece of internet awesomeness: 

After his release, Orton was claimed off waivers by the lowly Kansas City Chiefs before he could be reunited with his former team, the Chicago Bears, who at the time were 7-3 and one serviceable QB away from a playoff berth.

Then last week, just days before Orton was set to lead the Chiefs into Denver with hopes of keeping the Broncos out of the playoffs, Orton sued a Chicago law firm alleging he and other investors suffered millions of dollars of losses from partnerships that failed to provide anticipated tax benefits:

Orton, in a complaint filed yesterday in state court in Chicago, accuses Chuhak & Tecson PC of misrepresentation and negligence over advice on investments in oil and gas partnerships that were designed to grant tax credits. He and a co-plaintiff seek to represent other investors in a class-action lawsuit. The firm didn’t warn Orton and other investors that there was a possibility they wouldn’t receive the anticipated tax credits because the partnerships, set up to sell biomass gas from landfills to generate electricity, didn’t meet the statutory requirements for the credits.

Orton’s luck may finally be turning, however. He was triumphant in his return to Denver, though the Broncos backed into the postseason anyway by virtue of the Raiders loss to the Chargers. And Orton is surely taking great joy from the fact that Jesus has been so busy enjoying His birthday week, He forgot to keep Tebow from sucking the past two Sundays.

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