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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.

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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.

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