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Joe Madden
Joe Madden, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 0
Experience:  I have been in Public accounting for over 10 years.
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what is the tax rate for nfl players. is it the same as ...

Customer Question

what is the tax rate for nfl players. is it the same as everyone else depending on which tax braket they fall in or is it like i have heard that there is another tax braket for pro athletes?
Submitted: 11 years ago.
Category: Tax
Expert:  Joe Madden replied 11 years ago.
The tax rates do not discriminate against anyone regardless of occupation. From a homeless person on the street to the President of the US the same tax brackets apply depending on filing status. What bracket you fall into depends on your income level. Anyone earning more than $326,000 dollars per year will fall into the top tax bracket of 35% Since most NFL players earn millions it is a safe assumtion that they are paying 35% of their taxable income to the IRS. Now of course the players can afford good lawyers and accountants and probably have some pretty good tax writeoffs and deductions.