i wonder if he got that figure by the old canard of adding up all the marginal rates + sales tax (+ property tax?)especially outrageous would be the self-employed (?) 15% FICA on the first 115K of his 45 million ==================================Well, the 15.3% Self-employment tax rate (13.3% in 2012) is two numbers:12.4% of Social Security and 2.9% for Medicare.The 12.4% applies up to the FICA limit. The Medicare rate is umlimited.Of course it's possible that some or most of his endorsement income - for use of his name, image, etc., might be characterized or reportable as a royalty, and if so, it's not self-employment income. Better yet, maybe it's payable to his trust in Bermuda.With clients like that, there's always good possibilities.Bill
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra