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Northern Ireland22208 Posts
Cmon third new hero announcement
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as much as i love wings its still felt wrong that china won something
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On August 14 2016 12:55 dutchfriese wrote:Show nested quote +On August 14 2016 12:54 FiWiFaKi wrote: Are prize pools taxed as income tax or capital gains? Since the 400k+ tax bracket is 39.6% and 8.95% in Washington, so that'd be almost 50% tax.
Either way, if I assume I'd get taxed the same way as earning a normal income (say 30%), that's 1.82mil each, that's assuming working a career of 45 years, is $40,044 a year, as long as you invest what you're not spending at the rate of inflation.
Realistically you'd get a bit more, and that's around a $50,000 salary for the rest of your life. If you're a gamer you can live off of that forever in Canada or the US, and back in China, a lot longer. Should be taxed as ordinary wage income. You only pay 39.6% on all income over 400k, and the state income tax should be deductable. Not exactly sure how deductions work for foreigners though. Their effective rate will probably end up being around 40% or so for the states, but i'm just guessing here. I wonder if valve is ok with giving them the money over a few years to reduce the taxes. I know lottery can do it and also to keeps people sane after winning so much money.
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On August 14 2016 12:56 xenonn40 wrote:Show nested quote +On August 14 2016 12:55 dutchfriese wrote:On August 14 2016 12:54 FiWiFaKi wrote: Are prize pools taxed as income tax or capital gains? Since the 400k+ tax bracket is 39.6% and 8.95% in Washington, so that'd be almost 50% tax.
Either way, if I assume I'd get taxed the same way as earning a normal income (say 30%), that's 1.82mil each, that's assuming working a career of 45 years, is $40,044 a year, as long as you invest what you're not spending at the rate of inflation.
Realistically you'd get a bit more, and that's around a $50,000 salary for the rest of your life. If you're a gamer you can live off of that forever in Canada or the US, and back in China, a lot longer. Should be taxed as ordinary wage income. You only pay 39.6% on all income over 400k, and the state income tax should be deductable. Not exactly sure how deductions work for foreigners though. Their effective rate will probably end up being around 40% or so for the states, but i'm just guessing here. In the US, prize winnings are taxed at a much higher rate than normal income. I am not sure of the exact details.
i find that to be very surprising. If it's taxed higher then I'm guessing that means deductions are non-existent.
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On August 14 2016 12:58 Papercappu wrote: as much as i love wings its still felt wrong that china won something A-God?
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On August 14 2016 12:58 xenonn40 wrote:Show nested quote +On August 14 2016 12:57 FiWiFaKi wrote:On August 14 2016 12:55 dutchfriese wrote:On August 14 2016 12:54 FiWiFaKi wrote: Are prize pools taxed as income tax or capital gains? Since the 400k+ tax bracket is 39.6% and 8.95% in Washington, so that'd be almost 50% tax.
Either way, if I assume I'd get taxed the same way as earning a normal income (say 30%), that's 1.82mil each, that's assuming working a career of 45 years, is $40,044 a year, as long as you invest what you're not spending at the rate of inflation.
Realistically you'd get a bit more, and that's around a $50,000 salary for the rest of your life. If you're a gamer you can live off of that forever in Canada or the US, and back in China, a lot longer. Should be taxed as ordinary wage income. You only pay 39.6% on all income over 400k, and the state income tax should be deductable. Well yeah, but since the money is paid directly to players, that's almost 2mil each, so I just treated the entire income as 39.6%, but you're right, but it would've been more math for a back of the envelope calculation. And oh, okay, hmm, 40% is quite a lot still. I wonder how other countries treat it, I know almost all EU countries have higher tax brackets for the top, but in Canada for example, lottery winnings aren't taxed, so maybe there's similar type of stuff for competitions like this too. Lottery winnings are taxed heavily in the US.
These things make me so angry, it's literally triple taxing people (first for making money to gamble with, then to make winnings far less than revenue, and then tax the winnings)
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Well guys it's been fun. What a year it has been. I dedicate this TI to Azarkon. May he rest forever in the Chinese abyss of suffering.
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On August 14 2016 12:58 nVme wrote:Show nested quote +On August 14 2016 12:54 Kipsate wrote:On August 14 2016 12:53 nVme wrote:On August 14 2016 12:52 Papercappu wrote: 1st place 9m 2nd place 3m. what a difference how much does wings as an organization take as a cut from the prize money? 10-50%? Not sure but isn't wings their own players organization? i dont think so, i mean isnt this why people are "investing" in pro teams? i view it as people buying "shares" for a poker players buy in at WSOPs etc and for the other revenue sources I think it's more like they sponsor players and use the players fame to attract corporate sponsors to fund the organization, I believe that's how it is for reputable western orgs anyways
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well, i wonder what RPG's Wing's is going to play.
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The sound balancing is so off for this team credits
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On August 14 2016 12:58 dutchfriese wrote:Show nested quote +On August 14 2016 12:56 xenonn40 wrote:On August 14 2016 12:55 dutchfriese wrote:On August 14 2016 12:54 FiWiFaKi wrote: Are prize pools taxed as income tax or capital gains? Since the 400k+ tax bracket is 39.6% and 8.95% in Washington, so that'd be almost 50% tax.
Either way, if I assume I'd get taxed the same way as earning a normal income (say 30%), that's 1.82mil each, that's assuming working a career of 45 years, is $40,044 a year, as long as you invest what you're not spending at the rate of inflation.
Realistically you'd get a bit more, and that's around a $50,000 salary for the rest of your life. If you're a gamer you can live off of that forever in Canada or the US, and back in China, a lot longer. Should be taxed as ordinary wage income. You only pay 39.6% on all income over 400k, and the state income tax should be deductable. Not exactly sure how deductions work for foreigners though. Their effective rate will probably end up being around 40% or so for the states, but i'm just guessing here. In the US, prize winnings are taxed at a much higher rate than normal income. I am not sure of the exact details. i find that to be very surprising. If it's taxed higher then I'm guessing that means deductions are non-existent. There's a rumour going around that Valve pays all the taxes as well. It was sorta de-bunked when Admiral Bulldog said his winnings were taxed, but that was TI3 so I do think Valve covers it.
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On August 14 2016 13:00 wims80 wrote:Show nested quote +On August 14 2016 12:58 nVme wrote:On August 14 2016 12:54 Kipsate wrote:On August 14 2016 12:53 nVme wrote:On August 14 2016 12:52 Papercappu wrote: 1st place 9m 2nd place 3m. what a difference how much does wings as an organization take as a cut from the prize money? 10-50%? Not sure but isn't wings their own players organization? i dont think so, i mean isnt this why people are "investing" in pro teams? i view it as people buying "shares" for a poker players buy in at WSOPs etc and for the other revenue sources I think it's more like they sponsor players and use the players fame to attract corporate sponsors to fund the organization, I believe that's how it is for reputable western orgs anyways Org takes 20%.
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Anyway, appreciate the US tax info guys, and thanks to the person who pointed out the player I was thinking of was Light.
Enjoyed your guys' company in the LR thread. Have a good night all!
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This should be a message to many other chinese teams that having teams of veteran friends wont get you automatic top 4 anymore. hopefully wings and other fresh talent can finally take the spotlight
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On August 14 2016 13:00 Kuroeeah wrote: well, i wonder what RPG's Wing's is going to play. world of warcraft xd
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United States47024 Posts
On August 14 2016 12:51 trifecta wrote:Show nested quote +On August 14 2016 12:47 TheYango wrote:On August 14 2016 12:47 trifecta wrote: wings were too inconsistent this season for me to consider them the best overall. They obviously got white hot at the best possible moment I mean "too inconsistent this season" describes basically all 3 of the teams in the top 3. yeah pretty much. a lot of teams shit the bed at TI. IMO TI2 IG and TI3 Alliance were the only teams that were the best all season and also won TI TI2 iG was not the best all season. Chinese teams were super inconsistent in pre-TI2 DotA 2 events due to SEA ping (Perfect World server didnt exist yet), and in DotA 1 they had a super inconsistent season in the 6 months prior to TI2 (basically their 6.73 slump sowed the seeds of the Chuan/Zhou discontent that resulted in the team breaking up after TI3).
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On August 14 2016 13:00 youngminii wrote:Show nested quote +On August 14 2016 13:00 wims80 wrote:On August 14 2016 12:58 nVme wrote:On August 14 2016 12:54 Kipsate wrote:On August 14 2016 12:53 nVme wrote:On August 14 2016 12:52 Papercappu wrote: 1st place 9m 2nd place 3m. what a difference how much does wings as an organization take as a cut from the prize money? 10-50%? Not sure but isn't wings their own players organization? i dont think so, i mean isnt this why people are "investing" in pro teams? i view it as people buying "shares" for a poker players buy in at WSOPs etc and for the other revenue sources I think it's more like they sponsor players and use the players fame to attract corporate sponsors to fund the organization, I believe that's how it is for reputable western orgs anyways Org takes 20%. Source?
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On August 14 2016 12:58 nVme wrote:Show nested quote +On August 14 2016 12:54 Kipsate wrote:On August 14 2016 12:53 nVme wrote:On August 14 2016 12:52 Papercappu wrote: 1st place 9m 2nd place 3m. what a difference how much does wings as an organization take as a cut from the prize money? 10-50%? Not sure but isn't wings their own players organization? i dont think so, i mean isnt this why people are "investing" in pro teams? i view it as people buying "shares" for a poker players buy in at WSOPs etc and for the other revenue sources
For some pro teams
Other pro teams are just people throwing away money or doing it for branding/sponsor reasons
Or, in the case of League of Legends, to sell spots in leagues to other people that want to...throw away money or for branding/sponsor reasons
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