Tavares

[Frank E]

I see a lot of people talk about the tax situation but do people also talk about converting your US dollar paycheck into Canadian and getting a 25% bump?

$11m US converts to $14.615m CND right now.

That's not nothing. I know I'd love that. I sometimes get paid in US with the work I do, and I enjoy it.  ;D

Have to figure a lot of that would get eaten up by the relatively higher cost of living in Toronto than in other cities. Also, very rich people will by and large spend the smallest % of their money locally.

That, and you're at a 50% tax rate here.

 

[rdowdall]

They had Chris Botta on the radio here yesterday to talk about Tavares.

He covered the Islanders for the first few years that Tavares was in the league.  They asked him about his thoughts on the situation.  Some of the points he had:

• Limelight in Toronto wouldn't faze him.  He's the type of personality that can handle that.  That's not going to enter in to the equation.
• Islanders are probably still the front runner because he wants to be part of solution there, and believes he is sincere about his desire to stay there.  Only thing that would enter in to that is how much of a mess he feels the Islanders are going to be over the next little bit.
• Believes the Sharks are probably the second choice given the dynamic of the team, the respect he has for a guy like Joe Thorton, and his relationship with Logan Couture.  The environment that the Sharks play in would also be something that he would enjoy.

 

[dappleganger]

I see a lot of people talk about the tax situation but do people also talk about converting your US dollar paycheck into Canadian and getting a 25% bump?

$11m US converts to $14.615m CND right now.

That's not nothing. I know I'd love that. I sometimes get paid in US with the work I do, and I enjoy it.  ;D

Have to figure a lot of that would get eaten up by the relatively higher cost of living in Toronto than in other cities. Also, very rich people will by and large spend the smallest % of their money locally.

That, and you're at a 50% tax rate here.

And he's at a 50% tax rate in New York too. 

Cost of living is high in New York. Tampa on the other hand...

 

[rdowdall]

So another thing that somebody questioned is how much do Lou and Brisson not want Tavares to go to Toronto?

Lou is obvious.

Brisson because Matthews switched agents.  Brisson used to be his agent with CAA.  Now Matthews is with the Orr group.  I imagine that doesn't come in to play at all, right?  Because player X left his organization, that doesn't mean that he would be against the team that player plays with or not negotiate in good faith, because that would sort of mean your a crap agent at that point, at least in my mind. 

 

[Average Joes]

I see a lot of people talk about the tax situation but do people also talk about converting your US dollar paycheck into Canadian and getting a 25% bump?

$11m US converts to $14.615m CND right now.

That's not nothing. I know I'd love that. I sometimes get paid in US with the work I do, and I enjoy it.  ;D

For someone earning $10,000,000 you pay about $1,250,000 more in taxes in Ontario vs Florida.  You have to exchange the U.S. into Canadian and tax the Canadian sum.  This does not factor in any tax saving methods but those are limited for employment income in Ontario. I do not know what is available in the U.S.  Exchange rates fluctuate.

My friend just moved to Boston and he says the price of housing is a bit higher than Toronto. When you make that much I cannot see the cost of living being a huge factor. 

 

[Frank E]

I see a lot of people talk about the tax situation but do people also talk about converting your US dollar paycheck into Canadian and getting a 25% bump?

$11m US converts to $14.615m CND right now.

That's not nothing. I know I'd love that. I sometimes get paid in US with the work I do, and I enjoy it.  ;D

For someone earning $10,000,000 you pay about $1,250,000 more in taxes in Ontario vs Florida.  You have to exchange the U.S. into Canadian and tax the Canadian sum.  This does not factor in any tax saving methods but those are limited for employment income in Ontario. I do not know what is available in the U.S.  Exchange rates fluctuate.

My friend just moved to Boston and he says the price of housing is a bit higher than Toronto. When you make that much I cannot see the cost of living being a huge factor.

So, assuming your math is correct, the difference between Ontario and Florida would be $8.75M in Tavares' pocket over the course of a 7 year contract.

That's a pretty big deal.

 

[bustaheims]

Brisson because Matthews switched agents.  Brisson used to be his agent with CAA.  Now Matthews is with the Orr group.  I imagine that doesn't come in to play at all, right?  Because player X left his organization, that doesn't mean that he would be against the team that player plays with or not negotiate in good faith, because that would sort of mean your a crap agent at that point, at least in my mind.

A good, reputable agent will also place what's best for their client ahead of their personal feelings (or, at least, try their best to). Brisson, by all accounts, is a good, reputable agent.

 

[herman]

Brisson because Matthews switched agents.  Brisson used to be his agent with CAA.  Now Matthews is with the Orr group.  I imagine that doesn't come in to play at all, right?  Because player X left his organization, that doesn't mean that he would be against the team that player plays with or not negotiate in good faith, because that would sort of mean your a crap agent at that point, at least in my mind.

A good, reputable agent will also place what's best for their client ahead of their personal feelings (or, at least, try their best to). Brisson, by all accounts, is a good, reputable agent.

Matthews also merely changed agencies, not agents, as it was his agent Judd Moldaver that switched from CAA to Orr/Wasserman.

This story will be overblown in the 3rd season finale an AMC drama called Agents 12 years from now about CAA's co-founders, Pat Brisson and JP Barry, played by... hmm... let me think... Jon Hamm and John Slattery?

 

[Average Joes]

I see a lot of people talk about the tax situation but do people also talk about converting your US dollar paycheck into Canadian and getting a 25% bump?

$11m US converts to $14.615m CND right now.

That's not nothing. I know I'd love that. I sometimes get paid in US with the work I do, and I enjoy it.  ;D

For someone earning $10,000,000 you pay about $1,250,000 more in taxes in Ontario vs Florida.  You have to exchange the U.S. into Canadian and tax the Canadian sum.  This does not factor in any tax saving methods but those are limited for employment income in Ontario. I do not know what is available in the U.S.  Exchange rates fluctuate.

My friend just moved to Boston and he says the price of housing is a bit higher than Toronto. When you make that much I cannot see the cost of living being a huge factor.

So, assuming your math is correct, the difference between Ontario and Florida would be $8.75M in Tavares' pocket over the course of a 7 year contract.

That's a pretty big deal.

I did the exchanges more accurately back and forth and used the Ontario tax and converted it back to U.S. No accounting for fees which are another issue.  The loss is about $1,000,000 a year USD or $1,328,000 CAD.

His net in Florida is about $6,000,000 a year.  He gets about $5,240,000 on Long Island. Boston is about $5,5 million. 

 

[Guru Tugginmypuddah]

Help me out here guys; should I get my Tavares sweater in the home or away colours?

 

[Kin]

Help me out here guys; should I get my Tavares sweater in the home or away colours?

I'd go with the Leafs new teal 3rd Jersey with the logo of an angry Shark on the front.

 

[Frank E]

Help me out here guys; should I get my Tavares sweater in the home or away colours?

I'd go with the Leafs new teal 3rd Jersey with the logo of an angry Shark on the front.

That's where my money is, that or Tampa.

 

[mr grieves]

Does anyone here really think the Leafs *didn't* play the hometown angle in their pitch yesterday?

I would genuinely be surprised if it constituted a major part of their pitch.

I'd guess they could mount a compelling enough case around being one of the top 8 teams in the league, trending up as their young stars continue to develop, having a coach he's won with before, investing in a lot of off-the-ice perks, and being able to afford him...

... and fulfilling his dream.  Assuming he grew up a Leafs fan, that is.  If he didn't, then it's just a business transaction.

Right. My point is that the business transaction end looks pretty good for the Leafs.

Unless, by 'business,' you mean getting into tax law to figure out exactly what fraction of the upcoming millions go where... but I can't think that that's as likely a consideration as some here are imagining it to be.

 

[bustaheims]

Help me out here guys; should I get my Tavares sweater in the home or away colours?

I'd go with the Leafs new teal 3rd Jersey with the logo of an angry Shark on the front.

That's where my money is, that or Tampa.

I say he stays with the Islanders.

 

[CarltonTheBear]

He's coming here. You gotta Beleaf.

 

[Guru Tugginmypuddah]

He's coming here. You gotta Beleaf.

The streets will flow with the blood of the non beleafers!

 

[Coco-puffs]

He's coming here. You gotta Beleaf.

Just like an England fan should think in the World Cup... I hold zero hope of anything good happening.  That way, I'm not disapointed.  Elation will ensue if it happens though.

 

[Bates]

Most nhl players spend their summers elsewhere, and San Jose can actually be cold in the summer. During the months of the season there are numerous Cities with weather as nice as San Jose. Unless you are talking June the hottest nhl Cities really aren't in the 40's.

If i was picking a place to play and weather was a major consideration I would not be picking San Jose.  It's cold there despite being "warmer" than most NHL Cities in the winter.

I think you'd seriously struggle to find somewhere that was as temperate. Nice weather, to some folks, is as much about warmth in the winter as it is avoiding 40 degrees in the sun.

 

[louisstamos]

I feel like someone at TSN lurks this forum

Tavares teams' tax calculator
https://www.tsn.ca/nhl/tavares-calculator

 

[herman]

I feel like someone at TSN lurks this forum

Tavares teams' tax calculator
https://www.tsn.ca/nhl/tavares-calculator

Whoever it is, I need to fight him or her re: Nylander trade talk.