Pastor Dillon Posted August 23, 2017 Share Posted August 23, 2017 Hiring an agent is also a tax write off. The tax bills NBA players get is crazy high and crazy complicated. They have to file taxes in every state that has an NBA team. It gets complex, but the tax break can help out a lot in lowering that bill. Plus agents tend to become more than just contract negotiators. They are generally the players go to person for pretty much everything. NBA Contracts are so much more complicated than we read about when we see Lebron signed for 3 years 90 million. There are so many terms and conditions and conduct requirements and so on. Its kind of like selling a house. Sure you can do a for sale by owner instead of listing with an Agent, but it makes the process extremely more difficult and time consuming. For an NBA star, its worth it to not have to pay that. Granted i would not hire an agent if I was an NBA player, but someone representing a max player probably isn't getting the 5% mark. If you have the chance to be Lebron's Agent or Kobe's Agent, you do it for whatever you can, even if its 1% because you know its going to bring in a lot of clients. Players really aren't bringing home anywhere near what they are getting paid. Take Steph Curry who will get paid 35 million this coming season. Lets just say that he is paying his agent 3% Thats a million dollars. so hes flipping a tax bill on 34 million. To be simple, lets just say that Curry comes up with 4 million in other tax deductions and so on and pays taxes on his 30 million. The federal government taxes that at 40%, which is about 12 million dollars. California is going to charge him about 10% on 15 million of that, and the other 15 million will be subject to the various state tax rates, but lets just say he pays 2 million in state taxes. Thats a 14 million dollar income tax bill. Of his 35 million salary he is going to see about 16 million of it himself. So Curry could save that 1-3 million on his agent, but he is going to pay out about half that savings in taxes. Is it really worth not having an agent handle all this when its really not costing but 500k to 1.5 million a year? Link to comment Share on other sites More sharing options...
Oregon Ducks Posted August 23, 2017 Share Posted August 23, 2017 2 hours ago, Pastor Dillon said: Hiring an agent is also a tax write off. The tax bills NBA players get is crazy high and crazy complicated. They have to file taxes in every state that has an NBA team. It gets complex, but the tax break can help out a lot in lowering that bill. Plus agents tend to become more than just contract negotiators. They are generally the players go to person for pretty much everything. NBA Contracts are so much more complicated than we read about when we see Lebron signed for 3 years 90 million. There are so many terms and conditions and conduct requirements and so on. Its kind of like selling a house. Sure you can do a for sale by owner instead of listing with an Agent, but it makes the process extremely more difficult and time consuming. For an NBA star, its worth it to not have to pay that. Granted i would not hire an agent if I was an NBA player, but someone representing a max player probably isn't getting the 5% mark. If you have the chance to be Lebron's Agent or Kobe's Agent, you do it for whatever you can, even if its 1% because you know its going to bring in a lot of clients. Players really aren't bringing home anywhere near what they are getting paid. Take Steph Curry who will get paid 35 million this coming season. Lets just say that he is paying his agent 3% Thats a million dollars. so hes flipping a tax bill on 34 million. To be simple, lets just say that Curry comes up with 4 million in other tax deductions and so on and pays taxes on his 30 million. The federal government taxes that at 40%, which is about 12 million dollars. California is going to charge him about 10% on 15 million of that, and the other 15 million will be subject to the various state tax rates, but lets just say he pays 2 million in state taxes. Thats a 14 million dollar income tax bill. Of his 35 million salary he is going to see about 16 million of it himself. So Curry could save that 1-3 million on his agent, but he is going to pay out about half that savings in taxes. Is it really worth not having an agent handle all this when its really not costing but 500k to 1.5 million a year? Good write up. The agents are more than just their reps. A lot of times they become great friends. They give them advice on EVERYTHING and have to be there at a moment's notice. A lot of times they're babysitters to spoiled, filthy rich, immature, big babies. Ultimately, it's why I decided to not pursue the career further. Trust me on this fellas, the players need more qualified and trustworthy counsel, not less. Link to comment Share on other sites More sharing options...
Jlash Posted August 23, 2017 Share Posted August 23, 2017 It's a pretty dirty move if Wiggins fires the agent that put in the work to make this deal, only to hire another one and sign the same deal. The agent who negotiated that deal has to have some rights in this matter, no? Link to comment Share on other sites More sharing options...
Oregon Ducks Posted August 23, 2017 Share Posted August 23, 2017 1 minute ago, Jlash said: It's a pretty dirty move if Wiggins fires the agent that put in the work to make this deal, only to hire another one and sign the same deal. The agent who negotiated that deal has to have some rights in this matter, no? It happens A LOT. Link to comment Share on other sites More sharing options...
Jlash Posted August 23, 2017 Share Posted August 23, 2017 5 minutes ago, Oregon Ducks said: It happens A LOT. Like when? I'm sure it's happened, but I'd like to see other cases. I've seen players in negotiations not getting what they want and firing an agent (Nerlens Noel currently) in hopes of negotiating the deal they want. But I haven't heard of someone's agent getting them the max, getting fired so that player can sign the same contract under a different agency. Link to comment Share on other sites More sharing options...
sdrawkcab321 Posted August 23, 2017 Share Posted August 23, 2017 http://bleacherreport.com/articles/2729130-dwyane-wades-bulls-teammates-reportedly-cant-stand-him apparently wades teammates didn't like him. That's kinda strange. I've never heard anything about wade being a bad teammate. Maybe they got sick of him flashing his rings and talking about what he would do if he could still do it. Link to comment Share on other sites More sharing options...
seminoles1 Posted August 23, 2017 Share Posted August 23, 2017 35 minutes ago, Jlash said: It's a pretty dirty move if Wiggins fires the agent that put in the work to make this deal, only to hire another one and sign the same deal. The agent who negotiated that deal has to have some rights in this matter, no? Yes, he has rights. He negotiated the deal, so if/when Wiggins signs it then he will get his. Link to comment Share on other sites More sharing options...
seminoles1 Posted August 23, 2017 Share Posted August 23, 2017 2 minutes ago, sdrawkcab321 said: http://bleacherreport.com/articles/2729130-dwyane-wades-bulls-teammates-reportedly-cant-stand-him apparently wades teammates didn't like him. That's kinda strange. I've never heard anything about wade being a bad teammate. Maybe they got sick of him flashing his rings and talking about what he would do if he could still do it. Wade threw shade at the young players all the time last season, so it's not surprising they don't like him. Link to comment Share on other sites More sharing options...
11sanchez11 Posted August 25, 2017 Share Posted August 25, 2017 KD on Simmons podcast was fire. Link to comment Share on other sites More sharing options...
J-ALL-DAY Posted August 25, 2017 Share Posted August 25, 2017 1 hour ago, 11sanchez11 said: KD on Simmons podcast was fire. It was great. Just finished listening to it. And the Booker love he showed>>>>> Link to comment Share on other sites More sharing options...
tom cody Posted August 25, 2017 Share Posted August 25, 2017 Re: Wade, yeah that is strange. Guy seems like a very likable player. Very good player and always seemed like a good teammate. Link to comment Share on other sites More sharing options...
IrishGreen Posted August 25, 2017 Share Posted August 25, 2017 Wade is in the "I'm still as good as I used to be!" denial stage. Hall of famers who are used to being Go-to guys, top players in the league, tend to take falling off hard (usually by denying it). They think it's a "what have you done for me" league instead of a "what will you do for me" league. It's not. Love Wade, but I can definitely see how's he could be unlikeable in the locker room these days. Link to comment Share on other sites More sharing options...
CAS22 Posted August 26, 2017 Share Posted August 26, 2017 On 8/24/2017 at 9:32 PM, 11sanchez11 said: KD on Simmons podcast was fire. Simmons is so good in those settings. Gets the best out of anyone he interviews, it really is something. Hate listening to him otherwise though. Link to comment Share on other sites More sharing options...
seminoles1 Posted August 26, 2017 Share Posted August 26, 2017 Nerlens Noel signed his 1 year, $4.1 million qualifying offer. He will be an UFA next summer. He turned down a 4 year, $70 million offer from Dallas. I believe he will regret that decision. Cap space will be hard to come by next summer and Noel is way down the list of free agent priorities. Link to comment Share on other sites More sharing options...
Troy Brown Posted August 26, 2017 Share Posted August 26, 2017 2 minutes ago, seminoles1 said: Nerlens Noel signed his 1 year, $4.1 million qualifying offer. He will be an UFA next summer. He turned down a 4 year, $70 million offer from Dallas. I believe he will regret that decision. Cap space will be hard to come by next summer and Noel is way down the list of free agent priorities. Especially considering his injury history But he does seem primed for a big year at least Link to comment Share on other sites More sharing options...
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