General Discussion

erpowers

(9,446 posts)

108. Multiple Deductions

Mon Jan 21, 2013, 06:14 PM

Jan 2013

As far as I know he can deduct his state income taxes from his federal income taxes. In addition, he could get a number of deductions from things like charitable giving. I think he also has two minor children so he could claim them as dependents. Maybe because of his wealth he would not get that much money back, but I am fairly certain people can claim there minor children as dependents.

Mitt Romney paid a tax rate of 14% and that was after he refused to use some deductions in order to get his tax rate over 10% percent. If he had taken all of his deductions he would have had a tax rate of 9%. I realize that Mitt Romney is somewhat different from Phil Mickelson in that Romney lives off of his investments. However, it seems Phil Mickelson's tax rate could be reduced if he wanted it to be reduced.

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Phil Mickelson is considering shutting down his career next year because of new tax laws... [View all] MinM Jan 2013 OP

Poor Phil alcibiades_mystery Jan 2013 #1

He really is, isn't he? obamanut2012 Jan 2013 #85

And this is a big deal avebury Jan 2013 #2

I hope he does, he and his wife can spend the money they have left and they Autumn Jan 2013 #3

LMAO - so he's going to quit playing a game that allows him to win millions of dollars Hoyt Jan 2013 #4

Well, they DO hang out at country clubs, I spoze. Jackpine Radical Jan 2013 #32

Wildly LMAO over this ludicrous right-wing meme. indepat Jan 2013 #37

Douche doucherson and the Douchenozzles Bennyboy Jan 2013 #5

He plays golf? RandiFan1290 Jan 2013 #6

poor baby. can't figure out how to get prize money in the form of capital gains! unblock Jan 2013 #7

What a douchebag. I know plenty of golfers who would love to trade places. Initech Jan 2013 #8

Post removed Post removed Jan 2013 #92

Who is Phil Mickelson? Squinch Jan 2013 #9

He's a golfer that sells an ARTHRITIS DRUG on the tee vee. MADem Jan 2013 #79

Enbrel came from-federally funded research some at Calif public universities... MinM Jan 2013 #96

How tragic. He'll stay home, and live off his interest, and kestrel91316 Jan 2013 #10

IF this is verified, the question that would have to be asked is onenote Jan 2013 #11

+ ONE MILLION. bullwinkle428 Jan 2013 #13

Excellent.... WCGreen Jan 2013 #18

+ 960,380 It was a million but I had to pay a reasonable amt of taxes on it nt okaawhatever Jan 2013 #22

...... daleanime Jan 2013 #102

lol -- maybe that's why it took him so long to win a major fishwax Jan 2013 #35

I like that rebuttal LiberalFighter Jan 2013 #95

Who? nt msanthrope Jan 2013 #12

Wassamatta, Phil - lose your balls? TheCowsCameHome Jan 2013 #14

It is kinda sort of a free country he can do what he wants for any reason he wants stultusporcos Jan 2013 #15

1. He's a famous golfer. 2. HE announced it. 3. "he can do what he wants" is not true WinkyDink Jan 2013 #19

I know who the f he is, again who gives a sh_t if he plays golf or not stultusporcos Jan 2013 #21

This message was self-deleted by its author TeamPooka Jan 2013 #42

You shouldn't be very proud of perpetuating that RACIST meme, yet LaydeeBug Jan 2013 #91

This message was self-deleted by its author TeamPooka Jan 2013 #98

Oh, bigot, you're just a SCREAM, aren't you? LaydeeBug Jan 2013 #109

This message was self-deleted by its author TeamPooka Jan 2013 #113

I didn't call you a name, I correctly described you in FACT. You shouldn't claim the high road while LaydeeBug Jan 2013 #117

Jury results. hrmjustin Jan 2013 #116

....are completely irrelevant to such a bigoted post (but thanks for posting this anyway) LaydeeBug Jan 2013 #118

so glad I support this place with my money on days like today. Nice TeamPooka Jan 2013 #119

I support DU with my dollars too. And yet it doesn't change a thing. A bigoted statement is still LaydeeBug Jan 2013 #120

you don't know me and no clue what you are saying. Live with your ignorance. Enjoy it. TeamPooka Jan 2013 #121

It seems YOU are the one without a clue, if you think posting bigotry LaydeeBug Jan 2013 #133

Oh, he's WHITE? Well, there ya go then tkmorris Jan 2013 #43

a bigot's gotta be what a bigot's gotta be...sometimes you can't fix stupid. nt LaydeeBug Jan 2013 #110

This message was self-deleted by its author TeamPooka Jan 2013 #122

Nice racist post there GObamaGO Jan 2013 #97

~ Tuesday Afternoon Jan 2013 #55

Right, and we're free to call him an asshole entitled moron. Salviati Jan 2013 #62

Yeah, who wants to make millions playing golf is some of it is taxed. Scuba Jan 2013 #16

Yes it's much better to be mythology Jan 2013 #25

Another way of saying Phil has too much money. WinkyDink Jan 2013 #17

Nah. Actually, it's probably more likely his way of saying... GoCubsGo Jan 2013 #58

Thank YOU! smirkymonkey Jan 2013 #124

This is coming from a third-hand source subterranean Jan 2013 #20

He quit playing for the love of the game many years ago Gman Jan 2013 #23

I lost all respect for the man ... 1StrongBlackMan Jan 2013 #129

He needs to stop making those ads. They drive me up the wall. n/t duffyduff Jan 2013 #24

Good riddance to that santimonious douchebag. madinmaryland Jan 2013 #26

if that happens, there will be riots in the streets Enrique Jan 2013 #27

He barely made the cut at the Humama Challenge... Sekhmets Daughter Jan 2013 #28

A convenient excuse... MinM Jan 2013 #47

Isn't Humana one of those giant health insurance corporations? alp227 Jan 2013 #73

Big Fucking Deal, Phil. Earth_First Jan 2013 #29

Poor excuse for his recent performances Ghost of Tom Joad Jan 2013 #30

Maybe he'll pull a Schilling DollarBillHines Jan 2013 #31

According to CBS he says he's paying 63% taxes....so he wants to leave California , maybe even US pkdu Jan 2013 #33

say it aint so Doughboy... dionysus Jan 2013 #44

He is counting money he puts aside for retirement dsc Jan 2013 #53

Multiple Deductions erpowers Jan 2013 #108

Bye, Phil rurallib Jan 2013 #132

bwahaha! fishwax Jan 2013 #34

I got it now, those working and earning much less should quit and fulfill Romney's 47% Thinkingabout Jan 2013 #36

If you understand what it takes to reach that level in his profession, you'd see where he was coming brewens Jan 2013 #38

I know that Mickelson's dad was an airline pilot and that he went to college on a golf scholarship onenote Jan 2013 #39

Methinks the rheumatoid arthritis he was diagnosed with a couple of years ago bullwinkle428 Jan 2013 #40

I suspect you're right. Chan790 Jan 2013 #57

Damn. I'm sorry you're having to go through this yourself. The prognosis sounds bullwinkle428 Jan 2013 #67

TY, mine's not severe though. Chan790 Jan 2013 #75

I wonder who Phil Mickelson is. nt Honeycombe8 Jan 2013 #41

Stupid is as stupid does .. DemoTex Jan 2013 #45

Poor Phil... Pilotguy Jan 2013 #46

Phil is making himself look like a fucking fool. You played in all those European matches are RB TexLa Jan 2013 #48

This must be BS. He certainly would pay less here. It makes no sense. The Wielding Truth Jan 2013 #70

If true. Good riddance. GeorgeGist Jan 2013 #49

Worth nearly 50M 1983law Jan 2013 #50

Who the fuck cares? Zoeisright Jan 2013 #51

Po itty bitty wich person. I so sowy. Lint Head Jan 2013 #52

I guess he has a sense of entitlement ZRT2209 Jan 2013 #54

Who? What? RedCappedBandit Jan 2013 #56

I know! (or rather, I don't know 'who' or 'what') kentauros Jan 2013 #103

He sounds lazy daleo Jan 2013 #59

Don't let the door hit you in the ass on the way out. n/t Lil Missy Jan 2013 #60

Poor man! Will he still have his gig with Big Pharma? Pfizer & Amgen?? DearHeart Jan 2013 #61

LINK DON'T WORK spanone Jan 2013 #63

see reply #72 nt/ alp227 Jan 2013 #74

Says the guy who makes a living walking around manicured pastures hitting a ball with a club. Whovian Jan 2013 #64

My first thought was "Who the Hell is Phil Mickelson?" Grey Jan 2013 #65

Haha...what a farcking baby BeyondGeography Jan 2013 #66

poor baby sad-cafe Jan 2013 #68

Yeah... It's not that he SUCKS the past two years, worse than Tiger, because of arthritis. TheBlackAdder Jan 2013 #69

Can someone explain the bullshit replies in this thread, please? Dreamer Tatum Jan 2013 #71

is is pathetic is it not. CBGLuthier Jan 2013 #76

Allow me to explain. Skinner Jan 2013 #80

Removed Dreamer Tatum Jan 2013 #83

That isn't at all what Skinner said obamanut2012 Jan 2013 #88

It was a nice try, though. Skinner Jan 2013 #94

And if he were to exercise his right to make a bad math decsion, Last Stand Jan 2013 #100

It's important because he is spouting a RW meme obamanut2012 Jan 2013 #87

Tweet has been deleted/updated, alp227 Jan 2013 #72

Oh, well, we'll still have Charles Barkley JustABozoOnThisBus Jan 2013 #77

All The Rich Should Shut Down Their Careers.... global1 Jan 2013 #78

Forbes MinM Jan 2013 #81

LOL ... ok, if that's the excuse he wants to go with ... JoePhilly Jan 2013 #82

You pay state taxes in the state you earn the taxes in AngryAmish Jan 2013 #84

No. States have different laws jeff47 Jan 2013 #105

I'll be darned AngryAmish Jan 2013 #107

He must have read the back cover of XRubicon Jan 2013 #86

Wow... sendero Jan 2013 #89

I really don't care. HappyMe Jan 2013 #90

Is there any data about people moving into and out of California? AngryAmish Jan 2013 #93

They aren't leaving jeff47 Jan 2013 #106

Hey Phil. Who was the first lefty to win a Major?... SidDithers Jan 2013 #99

Answer: Bob Charles - The Open Championship. 11 Bravo Jan 2013 #115

I'll consider myself in good company... SidDithers Jan 2013 #125

I will make less money to pay less taxes is ... Blue4Texas Jan 2013 #101

Quitting Because He Is A Bad Golfer erpowers Jan 2013 #104

I had never even heard of the guy until he got on that ad talking about his arthritis duffyduff Jan 2013 #111

No He Was Not erpowers Jan 2013 #134

Most golfers buzzroller Jan 2013 #112

Boo-hoo. An overpaid (though certainly skilled) athlete might have to pay more taxes hatrack Jan 2013 #114

The article I read said he was considering leaving California due to taxes madville Jan 2013 #123

His logic and math skills have eroded more quickly than his game. Buzz Clik Jan 2013 #126

Tax Dodger or Tax Cheat Octafish Jan 2013 #127

He makes 30 million per year just in endorsements .... above what he wins in golf matches. Botany Jan 2013 #128

And such an important career he has! jmowreader Jan 2013 #130

I knew there was a reason I never cared for Phil M. nt BootinUp Jan 2013 #131

He's done a pretty good job of it so far n/t n2doc Jun 2014 #135