Discussion:Big Brother & the Yankees

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Discussion Forum Index --> Tax Questions --> Big Brother & the Yankees

Death&Taxes (talk|edits) said:

19 December 2007
Let's try this again.....my first try posted nothing but some message that the database was being updated.

http://online.wsj.com/article/SB119802881397337777.html

Don't you feel better now

http://www.nytimes.com/2007/12/19/sports/baseball/19yankees.html?_r=1&oref=slogin

HarryEA (talk|edits) said:

20 December 2007
There must be more to the story with this. The amount involved is very small compared to most cases.

Maybe somebody turned him in.

Dennis (talk|edits) said:

20 December 2007
What bothers me is declining standards in journalism. There seems no way that post season share is reported in any other way than on a W-2. If so it would have no business in the story.

Skasselea (talk|edits) said:

20 December 2007
Nobody turned him in. The story sucks, but it is NOT a surprise. Several months ago, IRS told every team in MLB to have their clubhouse guys, traveling secretaries, etc. to fess up and report their tips. I read about it in several publications. Basically if you amended your returns and paid the tax, no problem. If you didn't, they came down hard.

As for the postseason share, the writer is using it for a good reason. Clubhouse and traveling secretaries depend on that money and when a team doesn't advance, the money isn't there and it gets made up by tips. It didn't have to end up this way at all.

Skasselea (talk|edits) said:

20 December 2007
Of course, there is another much bigger issue left unsaid...the message to the general public. If your income is from tips and you fail to report your income this may happen to you. Even if you are a Yankee, you can't escape the law. You'll lose your job, your respect and face possible jail time. IRS has been very lax for several years and that my friends, has changed dramatically.

Jim@jdeminnocpa.com (talk|edits) said:

20 December 2007
I wonder if Andy Pettite will be amending his returns to

deduct "Steroids" as a necessary business expense on Form 2106.

If so, will the Rocket be close behind?

Death&Taxes (talk|edits) said:

20 December 2007
Clever, Jim, putting Rocket and 'behind' in the discussion of steroids.

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