Promoted

Athletes’ League Fines Are Tax Deductible

When Kobe Bryant uses a homophobic slur or Ndamukong Suh stomps on a guy, and they get fined by their respective leagues, they can deduct those fines from their taxes. That seems odd.

Tax time! What fun. Tax time is even more fun — funner? — for two categories of people:

1. Those with no money
2. Those with a lot of money.

Athletes fall into that second category. In the Sports Business Journal, financial adviser Steve Piascik has some fascinating tax-related tips for those guys, and one of them stood out to us more than the others:

Fines: Some leagues, including the NFL, contribute their fines to charity. This makes them tax deductible. So if an NFL player gets fined for nailing a wide receiver with his helmet, he can deduct the fees associated with this fine.

The NBA and Major League Baseball also donate fines to charity.

Check out more articles on BuzzFeed.com!

 
 
    Here Are The Top Stories
    • Polls have officially closed in the Greek referendum. The country is deciding whether to accept sweeping new austerity measures tied to further bailout funds.
    • The U.S. will face Japan in Vancouver in the final match of the FIFA Women's World Cup ⚽️
    • Captured New York prison escapee David Sweat has been released from hospital and is back in jail.
    Get The News App

    Now Buzzing