Comments about ‘CougarLinks: Will Jimmer Fredette become a Chicago Bull?’

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Published: Friday, Feb. 28 2014 11:30 a.m. MST

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Y-Ask-Y?
Provo, UT

A few million?

He will make "a prorated portion of the...minimum".

And his Kings buyout will be taxed heavily, at a rate similar to what he would have paid if he was making that lump sum the entire year.

This is not good for Jimmer. He is hanging onto his NBA dream by the skin of his teeth, so he better not brush for a while!

Sports Are Great
Salt Lake City, UT

@YaskY,

You must not know much about how taxes work if you thnk he's taxed on his buyout "at a rate similar to what he would have been paid if he was making that lump sum the entire year"

There is a difference between the amount that is withheld and the taxes you end up paying. That is why people typically have a refund or owe the govt more at the end of the year - what is withheld almost never matches your taxes due. He'll be taxed according to the total amount of money he made during the year, just like every other person in the world is. The fact a big lump sum came in one big chunk doesn't impact the total taxes he will owe as opposed to if that amount had been spread over the year.

I'm embarrassed if you didn't know that. And no, I'm far from a tax expert or accountant. But I would have though people had a BASIC understanding of how they are taxed. Sad that you didn't.

And yes, Jimmer has made a few million.

Cougarista
Salt Lake City, UT

Good luck Jimmer. You bring a touch of class to any team, not to mention connecting from way deep.

Jazz Source
Alpine, UT

Wait, I read a bunch of comments on here from Utes the other day that said no NBA team would sign him and he would have to go to Europe to play?

There were rumors that 2-3 teams at least had interest. Now it appears Chicago has interest too?

Fascinating how such a non-NBA talent gets offers from NBA teams.

Wonder if the Utes have any more insights they could share?

Sacramento is such a clown organization.

BYR
West Bountiful, UT

@JazzSource, you (and I) well know, the reason for no NBA team taking him when Sacramento was offering him, was the deal, not Fredette. Now, if no team really wanted him AFTER he was waived, then they were be correct. Another example of why no one should speak before all the facts are in.

Y-Ask-Y?
Provo, UT

Even as a first round draft pick, Jimmer has always been one of the lowest paid players on the King's roster. His "buy out" comes halfway through the regular season, and does not include the fourth year team option that was not picked up. So he is getting a lump sum payout of half his annual contract amount ($ 2.4 million) for this, his third year in the NBA.

But his total checks for these three years have been subject to heavy taxes, as much as 55 percent of his salary. There's federal tax, and an additional 13.3% in California state taxes (the highest state income tax in the United States). Also the Medicare tax and surcharge, plus the "jock taxes" paid to the 16 to 20 states in which he plays on the road. So even discounting the higher withholding that will result from this lump sum payout, it is a stretch to say that Jimmer has earned, or will go on to earn, "a few million" for his play in the NBA. He has been little more than a lowly paid warm body for scrimmages.

I stand by my comments. Jimmer has always been overrated.

Coog Fan in Spokane
Spokane, WA

Y-Ask-Y : overpaid, overtaxed, overrated...Whaaa...? Dude, you are all over the place.

Last time I checked, player contracts and compensation weren't evaluated on an "after-tax" basis. With the money these guys make, they are all in the highest tax bracket. Jimmer has made "a few million," and like every other player, paid his taxes on "a few million."

And you apparently still didn't understand the point Sports Are Great was making - whether his salary was paid over the course of the year or in a lump sum, at the end of the day his 2014 tax obligation will be the same - there's nothing to discount. Only his withholding would change. When you find yourself in a hole, stop digging.

As far as being overrated, it's hard to say - the Kings were a bad fit from day 1; he may do better elsewhere, or he may end up in Europe. Either way, he'll remain in the highest tax bracket for a few more years, at least. I hope the best for him - he's a great kid.

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