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According to one estimate, LeBron James took home about half of his $33 million contract after taxes and other costs, giving a sense of how athletes are taxed compared to most people.
James was docked almost $13 million in taxes, plus another $4 million in other costs.
James makes an estimated $55 million off the court in endorsements and has the chance to become the highest-paid player in NBA history this offseason.
By now we know that most athlete contracts aren’t what they seem.
Though the base numbers are enormous, after federal, state, and city taxes, plus fees for agents and other costs, athletes usually ending up taking home close to half of their base salary.See the rest of the story at Business Insider
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