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 Topic # 728 |
49ers starter reveals the shocking amount of money that he pays in taxes with each game check |
18/03/2024 @ 08:58
by TomBrady
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If you've ever wondered how much money an player pays in taxes, has the answer for you. The defensive tackle recently shared his , and if there was one thing that seemed to surprise most people, it was how much money Armstead is forced to send to Uncle Sam. Not only does Armstead have to pay the top federal tax rate of 37%, but he also works in California, which is a state that has one of the highest Tim Hardaway Jr. Jersey income taxes in the nation. You get taxed in California based on how much you make, and thanks to his salary, Armstead is taxed at the highest amount, which is 12.3%.Let's take a look at his check below. 49ers defensive end Arik Armstead shares a game check. He makes $393,055 a Seth Curry Jersey game. 49.3% comes out in taxes. Darren Rovell (@darrenrovell) As Armstead , he had to pay $194,000 in taxes on that one pay check."You have the federal tax, which you can see, is probably the most hefty, is $144,000," Armstead said. "You have your state tax, which is another $40,000, and then that finals up to the total you pay in taxes, which is $194,000 out of my game check." If you want the exact numbers, Kristaps Porzingis Jersey Armstead's gro s pay was $393,055.55. From there, the government took out $144,599.75 in federal taxes. After that, the state of California took out $40,979.80 in state taxes. Armstead also had $8,505.70 taken out in FICA taxes. On top of that, he also had $759.38 taken out for miscellaneous items (It looks like he also used to contribute to his 401K, but he didn't on this check because he had reached his limit).When all was said and done, he paid out $194,844.63 and his take home pay was $198,210.92.The one interesting thing here is that it shows how much a player can earn if they play in a state with no income tax Tyler Bey Jersey like Texas, Florida, Washington or Tenne see. If Armstead played for the , he wouldn't have had to pay $41,000 in state income taxes, and instead, that money would have gone into his pocket. After just 10 checks, he would make $410,000 more in Jalen Brunson Jersey Tenne see vs. California. Armstead with the 49ers in 2020, which means he's paid a solid chunk in taxes over the past three years. The 29-year-old, who , has spent his entire career with the 49ers, which means he's spent his entire career paying California taxes. The former first-round pick has been in San Francisco since 2015 when the team selected him 17th overall pick in the . |
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