New York State Withholding Tax Athletes: Fill & Download for Free

There are several possibilities and none of them are good.The first is he is bankrupt. Ivanka tells an anecdote where her father and she are walking past a homeless man. Trump tells her that the homeless man is better off than Trump because he doesn’t owe a specific and large amount of moneySecond, he owes money to someone he shouldn’t. American banks stopped loaning to him and he has probably maxed out what Deutsche Bank will loan him. That leaves either unsavory people or adversarial nations, such as China and Russia, and perhaps Saudi Arabia although it is likely that it is Jared who is in debt to the Saud family.Third, he laundered some cash for some FOP - Friends of Putin. There is evidence he sold a lot of property for way above asking for cash from Russians. This looks a lot like money laundering.Fourth, he has admitted to gaming the system and claims everyone does. It is possible he has cheated on his taxes. The most obvious way he would have done this is by claiming charitable donations. We know from David Fahrenthold’s Pulitzer Prize-winning investigation that The Post was able to identify $7.8 million in charitable giving from Trump’s own pocket since the early 1980s. In the period between 2008 and 2016, The Post found that his personal giving has almost disappeared entirely in recent years. After calling 420-plus charities with some connection to Trump, The Post found only one personal gift from Trump between 2008 and the spring of this year. That was a gift to the Police Athletic League of New York City, in 2009. It was worth less than $10,000.The charity that Trump has given the most money to over his lifetime appears to be his own: the Donald J. Trump Foundation.But that charity, too, was not what it seemed.The Trump Foundation appeared outwardly to be a typical, if small, philanthropic foundation — set up by a rich man to give his riches away.In reality, it has been funded largely by other people. Tax records show the Trump Foundation has received $5.5 million from Trump over its life, and nothing since 2008. It received $9.3 million from other people.Another unusual feature: One of the foundation’s most consistent causes was Trump himself.New findings, for instance, show that the Trump Foundation’s largest-ever gift — $264,631 — was used to renovate a fountain outside the windows of Trump’s Plaza Hotel.Its smallest-ever gift, for $7, was paid to the Boy Scouts in 1989, at a time when it cost $7 to register a new Scout. Trump’s oldest son was 11 at the time. Trump did not respond to a question about whether the money was paid to register him.At other times, Trump used his foundation’s funds to settle legal disputes involving Trump’s for-profit companies and to buy two large portraits of himself, including one that wound up hanging on the wall of the sports bar at a Trump-owned golf resort. Those purchases raised questions about whether Trump had violated laws against “self-dealing” by charity leaders.Finally, he is embarrassed because while not bankrupt, he is not as rich as he claims. In fact, he sort of hinted at that during the 2016 campaign. He said that the bulk of his ‘wealth’ lies in his brand and it fluctuates daily based on how he feels.It should be noted, that up until this year, showing your taxes while running for president was merely a tradition. Trump is nothing if untraditional. Several states have made this now a requirement to appear on the ballot and more measures are lining up. In those states, he will need to show up to 10 years of taxes.Also, it 2016, he claimed to be under audit, at the time he could only be under audit for the previous year. That leaves 2016–2018 that were not under audit. The audit was the only reason he was withholding the documents. There is no evidence that he is under audit. The IRS cannot confirm it and Trump either does not have (because he is lying) an audit letter or will not produce the letter.

If you are talking about the paycheck of a professional athlete, then yes and no. They generally receive a W2 that has FICA/Medicare and withholding deducted. The W2 and check is from the team that they play for. The biggest difference is their wages are taxable in every state where they play during the year, so it is not uncommon for an NFL player to have to file and pay tax in multiple states each year based on the number of games played in each of the various states. This same rule will generally apply to the coaching and support staff for the teams also.If you are talking about a paycheck from the actual League itself, as a general rule their employees are only working in one state, primarily New York or California.

If a player plays for a team in a state without an income tax, then it would make sense because about half of his earnings would be tax free. If they play for a team in a state with a tax, they can save a little depending on any endorsement income and investment income.The professional leagues have tax people who allocate the income based on where the training camp is and where each game is played. The teams withhold state and local income taxes based on this allocation.