Breaking down the numbers—how much does Uncle S...
I'm gonna show you a real NFL contract and how it works. He gets a $9.9 million signing bonus and he gets 750 grand, which is the league minimum. 10.7 mil he's getting, but now he got to pay Uncle Sam. Federal taxes are $4 million. Then state taxes in Michigan are almost 700 grand. And then he's got to pay something called the jock tax. You might know what that is. If you're an NFL player, pro athlete, whatever, you have to pay taxes in every single state you play. So you play for the Dallas Cowboys that has no state income tax, great. Like Will Levis plays in Nashville, right? Tennessee has no state tax, that number is zero. But then, when you go play in California, guess what happens? You pay taxes in that state. You've gone from 10.7 to $5.8 million. So half your money is going and you have not spent a dollar. And guess who doesn't know that? The people asking you for money. All they see is in the paper, you're getting 10.7 mil. I saw the NIL deal, you're getting 300 grand. Give me some of that. Give me 100 grand, you got 200 grand left. And if you don't know no better, yeah, okay, cool, all right. Yeah, I got your mom, you know, you raised me. Here's 100 grand, I got 200 grand left. Uncle Sam goes, all right, but I need 150 grand of that. So you only have 150 grand, you gave 9% of your money to your mom. So you didn't know. It's about putting a plan in place. If you know this going in, you can do everything you wanna do if you plan. If you don't, you're playing catch up. We can simplify all this stuff. That's our goal. Everybody has different responsibilities. Our goal is to make sure whatever yours are, we help you navigate it.
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