Russ did it.. Renegotiated his contract

[scrummymustard]

The team told Wilson, instead of paying you $666,666.67 per week for the next 9 weeks, we are going to cut you a check for the full $6 million this week. You get a top ten left tackle out of the deal, and you save about $90,000 in taxes. There is literally no downside for the player in these restructuring deals, unless he lives in a high tax state, like California, and plays games in states with lower or no state income tax.

It's routune.

Not to turn this into a weird tax debate like the other thread, but is the tax savings due to it being paid out in Washington instead of other states where the income tax is higher during road games?

Basically, yes.


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[sutz]

The team told Wilson, instead of paying you $666,666.67 per week for the next 9 weeks, we are going to cut you a check for the full $6 million this week. You get a top ten left tackle out of the deal, and you save about $90,000 in taxes. There is literally no downside for the player in these restructuring deals, unless he lives in a high tax state, like California, and plays games in states with lower or no state income tax.

It's routune.

Not to turn this into a weird tax debate like the other thread, but is the tax savings due to it being paid out in Washington instead of other states where the income tax is higher during road games?

That's a part of it.

 

[scrummymustard]

Like honestly this guy is one of the best things to ever happen to this franchise

Absolutely. I don't think many people are disputing that. Carroll, Schneider & Wilson have all been fantastic for this franchise.




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[bigskydoc]

Not to turn this into a weird tax debate like the other thread, but is the tax savings due to it being paid out in Washington instead of other states where the income tax is higher during road games?

Exactly. If some of the bonus was performance based (say he has to pass for a certain number of yards to earn the bonus), then he would lose the benefit.

 

[Seymour]

Some of the replies in this thread seem to suggest that Russ took a pay cut to accommodate Brown's contract. He did not. They simply converted his remaining salary for the year into a signing bonus, allowing them to spread the cap hit into 2018 and 2019. Basically borrowing a bit of future cap space to make the necessary room this year.

Despite what's been suggested in other threads, this did not require any financial sacrifice from Russ. It's fairly routine cap maneuvering.

LOL of course not, its Wilson he can't have done anything to help the team. LOL pathetic

He wasn't bashing Wilson, just stating the facts. Your post seems defensive and misguided. :roll:

 

[Seymour]

Can we stop with the stupid tax arguments taking over another thread please?

Does everything have to end with mine is bigger than yours lately? ukeface:

 

[kidhawk]

That's 2 threads now overrun with tax debate. It's obvious that some are on one side and some are on the other. It's time to drop it. Those of you (and you know who you are) who have been involved in this need to just move on. Any other threads that devolve into a pissing match over who knows most about Russel Wilson's taxes will find themselves on the outside looking in.