Mickelson To Pay Over 61% In California Taxes….After Being Taxed In The UK
After he took so much shit just about talking about his tax bill in his home state, Phil gets nailed again. If I was Phil, I get the hell out.
LOS ANGELES (CBSLA.com) — Thanks to his recent wins at both The Open Championship and the Scottish Open, Phil Mickelson pocketed more than $2.16 million in just two weeks. The world’s top golfer —who came under fire earlier this year when he complained about his supposed 60 percent tax rate
as a California resident — is taking another hit on his recent earnings.
According to Forbes, Mickelson has been subjected to the United Kingdom’s 45 percent tax rate for those who make more than £150,000 a year. In addition, the magazine reports, he will be taxed on a portion of the endorsement income
he earned during his time in Scotland.
While Mickelson can take a foreign tax credit to avoid being taxed again by the U.S. government, he still has to pay self-employment taxes, the new Medicare surtax, and hand over 13.3 percent of his wages to the state of California, which does not have a foreign tax credit, Forbes reported.
Forbes estimates he will take home $842,700, which, of course, does not include any of his tax-deductible travel expenses and the additional 10 percent he owes to his caddy.
It’s not known whether Mickelson is planning on leaving California, but his $7 million Rancho Santa Fe estate is on the market.
5 thoughts on “Mickelson To Pay Over 61% In California Taxes….After Being Taxed In The UK”
Run Phil Run!!!
It’s getting very expensive to support a socialist government … theirs and ours.
Yea Woodsterman,
But they gave us the Beatles!
That must count for something.
So, he makes 2.1 million and out of all that money he ONLY TAKES home $842,700 to live on and pay all his expenses he has incurred in making golf his lively hood? The gummints lets him KEEP ONLY 40 per cent of his 2.1 million dollar income?
What an obscene world this has turned into.
Heltau – Yep, government freedom to steal money from working Amercians. Does not matter if you are a pro golfer or a ditch digger, pay up.