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Shawn Watson

clob94

clob94

Well-Known Member
Aug 25, 2014
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I was hankering for some Kerbey Lane pancakes this morning so I drove up to Austin to scratch my itch. If you haven't had a tall stack at Kerbey before, you do not know what you're missing.

So anyway, I'm coming down south Lamar to take a left on 290 (Ben white) and head back to 35 and there on the corner was a dude begging for change that was either Shawn Watson, his twin brother separated at birth,or a dead ringer for Watson. I couldn't get my phone up fast enough to snap a photo or I'd post it on here so you could see. I kid you not folks. It looked like Watson in the flesh.

I thought "Sooooooooo this is what happens to OC's not named Greg Davis".
 
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Haha hate to think he's broke. Didn't he pull in 1.5 million this year?

Pancakes? I need to visit Austin. Never been.
 
ryan_sublett said:
Haha hate to think he's broke. Didn't he pull in 1.5 million this year?

Pancakes? I need to visit Austin. Never been.
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You must be a Yankee not knowing what pancakes are..LOL! You know up North they call them " Johnny Cakes...



LOL!
Hook'em
 
1.5 million bro, after federal and state taxes you'll be lucky to walk with 700k. And before some smart a$$ says "but clob, Texas doesn't have state income tax"..... yes I am aware. However, when you coach games in Kansas or Iowa or indiana, you are "working" in that state so you must pay a portion of your salary toward THOSE state taxes according to their laws. You were technically earning money while working in that state. I know, I know it sounds stupid, but if you look at basketball players, say Tim Duncan-- Timmy pays no state income tax when he's playing at home or against the Miami heat. But when he plays the Lakers in LA, he has to pay california state taxes on 1/82 of his contract.

So Watson pays taxes on 1/12 of his salary to Iowa, to Kansas, to indiana, etc. Not sure if Kansas has state income tax....... but you get where I'm coming from.
 
clob94 said:
1.5 million bro, after federal and state taxes you'll be lucky to walk with 700k. And before some smart a$$ says "but clob, Texas doesn't have state income tax"..... yes I am aware. However, when you coach games in Kansas or Iowa or indiana, you are "working" in that state so you must pay a portion of your salary toward THOSE state taxes according to their laws. You were technically earning money while working in that state. I know, I know it sounds stupid, but if you look at basketball players, say Tim Duncan-- Timmy pays no state income tax when he's playing at home or against the Miami heat. But when he plays the Lakers in LA, he has to pay california state taxes on 1/82 of his contract.

So Watson pays taxes on 1/12 of his salary to Iowa, to Kansas, to indiana, etc. Not sure if Kansas has state income tax....... but you get where I'm coming from.
Click to expand...
Yeah I know you end up having to pay taxes everywhere. I work with investments. Kansas does have state taxes. 700k... Rough man
 
clob94 said:
1.5 million bro, after federal and state taxes you'll be lucky to walk with 700k. And before some smart a$$ says "but clob, Texas doesn't have state income tax"..... yes I am aware. However, when you coach games in Kansas or Iowa or indiana, you are "working" in that state so you must pay a portion of your salary toward THOSE state taxes according to their laws. You were technically earning money while working in that state. I know, I know it sounds stupid, but if you look at basketball players, say Tim Duncan-- Timmy pays no state income tax when he's playing at home or against the Miami heat. But when he plays the Lakers in LA, he has to pay california state taxes on 1/82 of his contract.

So Watson pays taxes on 1/12 of his salary to Iowa, to Kansas, to indiana, etc. Not sure if Kansas has state income tax....... but you get where I'm coming from.
Click to expand...


Don't think that's correct. I was a coach in Indiana and we played games in Kentucky, Tennessee, Ohio, Michigan, Illinois, Missouri, Michigan, Wisconsin and West Virginia. Never paid any income taxes in any of those states.
 
leslie-cochran-hook-em-pose-james-granberry.jpg


Hook 'em
 
speedstrength said:
Don't think that's correct. I was a coach in Indiana and we played games in Kentucky, Tennessee, Ohio, Michigan, Illinois, Missouri, Michigan, Wisconsin and West Virginia. Never paid any income taxes in any of those states.
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I wouldn't publish that. Perhaps your employers HR director did it for you. But trust me, it must be done. Wrote my CFP dissertation on it.
 
clob94 said:
I wouldn't publish that. Perhaps your employers HR director did it for you. But trust me, it must be done. Wrote my CFP dissertation on it.[/QUOTE

So your telling me I was supposed to fill out a tax return in 9 different states?
Click to expand...
 
I am a professor at a D2 school now. I just texted one of the assistant coaches. He said they don't pay taxes in other states. We play teams in New Mexico, Arkansas. Oklahoma and Kansas.

Also how would this work on airplane travel. I am flying to Boston for a conference. I check some student emails in Atlanta. I was working in GA, do I owe taxes in Atlanta. In Boston I work on some power points, answer some blog post on blackboard, and grade a few papers. Do I owe taxes in Massachusetts as well?
 
speedstrength said:
I am a professor at a D2 school now. I just texted one of the assistant coaches. He said they don't pay taxes in other states. We play teams in New Mexico, Arkansas. Oklahoma and Kansas.

Also how would this work on airplane travel. I am flying to Boston for a conference. I check some student emails in Atlanta. I was working in GA, do I owe taxes in Atlanta. In Boston I work on some power points, answer some blog post on blackboard, and grade a few papers. Do I owe taxes in Massachusetts as well?
Click to expand...
Clob is right. However, I don't know the specifics. Maybe they only go after big money like professional athletes and firms. I am not sure. We border New Mexico here and I have some raw land on the New Mexico side. I have to do a NM state income tax even though I don't live there (nor make any money there).
 
Speedstrength- I wrote my last CFP paper at Texas in 2003 about Alex Rodriguez's contract and what his tax ramifications were as a Texas Ranger living in state and playing 81 games at home and 81 games on the road in states that had state income tax. I had to speak to MLB agents, front office members and CPA's that worked for MLB and for players reps. Even had chats with guys like dat Nguyen and Zach Thomas about it. I'll grant you that was 2003, but gun to my head, that's how the tax system worked then. (Made an A on the paper). It could have changed by now, but I doubt it bro.
 
Yeah your talking about the jock taxes. Most of those state statutes specifically mention professional athletes and or professional teams. They don't mention college coaches.
 
I went back and grabbed my old books off the shelf and according to 2003 tax laws, it pertained to "athletic endeavors that were for profit or profited from exposure" to their state. Broad statement. I guess since state schools are considered non for profit, but they do profit from exposure....... I'm going to research that tomorrow. Good discussion.
 
Pro golfers the same. Phil Mickleson mentioned one time in an interview (I think, it's been awhile back) that one of the hardest things about managing his money was how the accountants had to keep up with where he played and the all the different tax rates. Whatever amount he won was subject to that state's income tax rate. I should have such a problem, hehe.
 
clob94 said:
I went back and grabbed my old books off the shelf and according to 2003 tax laws, it pertained to "athletic endeavors that were for profit or profited from exposure" to their state. Broad statement. I guess since state schools are considered non for profit, but they do profit from exposure....... I'm going to research that tomorrow. Good discussion.
Click to expand...

I believe most universities operate as 501(c)(3). Some university's athletic departments function as independent but affiliated corporations but I believe they are also 501(c)(3) in those configurations.
 
speedstrength said:
I believe most universities operate as 501(c)(3). Some university's athletic departments function as independent but affiliated corporations but I believe they are also 501(c)(3) in those configurations.
Click to expand...
Speed yes, most all universities operate as a non-profit. However, the university is an entity, the employee is a person.
 
An athletic competition between two non profit corporations would technically be non profit and therefore the coaches and other athletic department personnel would not be subject to the various different state level jock taxes
 
I've read some stuff regarding professional athletes having to report for games played in other states, but don't think it carries to the coaches.
 
Speed, I did some research as well and when it comes to college coaches, it also depends on the state. There can be reciprocity between states to not charge college coaches taxes, and some states say a coach has to make X amount of dollars before the tax applies to them. So with that said, if you coached in Indiana and traveled to michigan, ohio, etc, there's either an agreement between the states to not tax you, OR your salary wasn't high enough to charge you taxes OR, you owe some muh fuggin money bro.


RUN!
 
I made 32k that year and my wife was a stay at home mom. I actually got a small earned income tax credit that year. I don't think anyone on our staff paid taxes anywhere other than Indiana. Our head coach only made in the 80's, He was the OC, DC made mid 50's position coaches made in the 20's or 30's. We also had 4GA's. Head coaches in other sports made anywhere from mid 50's to around 20k for golf and tennis. Other sport assistant coaches made between 30 and 5 grand for some of the assistant track coaches. They were high school teachers or retired high school teachers. They would have lost their whole income if they had to pay income taxes for all of the out of state meets.
 
Well now that you've cleared that up, I would expect for you NOT to hear from any other state regarding an outstanding tax bill.

WHEW!
 
Yeah, no money, no taxes. Have you heard about the new simplified form? Only has 2 lines: How much did you make? SEND IT IN!
 
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