Taxes, Taxes, Taxes

While you are likely familiar with large salaries sometimes earned by professional athletes, like everyone else, taxes can take a big bite out of that salary. For example, Seth Curry earned an NBA record $34.7 million during the 2017-2018 season. Unfortunately, he only got to take home about 44 percent of that figure. The biggest bite was $11.7 million in Federal income tax, followed by $4.1 million in city and state tax. Of course, he was estimated to have earned $35 million in endorsements for the year, so his earnings effectively doubled, as did his tax liabilities.