Editorial

IRS to Tom Brady: Nice Trophy. What's That Worth?

Image via Wikimedia Commons by Jeffrey Beall.

Former University of Michigan quarterback Tom Brady recently won his fourth Super Bowl, named MVP, and was rewarded with a lot of gifts. Brady even gave one of them to a teammate. But nothing is free, even when it’s free.

Americans for Tax Reform estimated that Brady’s Super Bowl success will cost him $42,000 for the winning bonus and another $18,500 for gifts just in federal taxes.

Here’s their breakdown:

  • Brady was awarded a 2015 Chevy Colorado truck valued at $34,000. He pays 39.6 percent of that in income tax or $13,500.
  • Brady reportedly gave the truck to teammate Malcolm Butler, who made a game-saving interception. That’s another $5,000 for a gift tax. That’s $18,500 in federal taxes on the truck, which was valued at $34,000.
  • Finally, Brady got a $97,000 check for winning the Super Bowl. That’s also taxed at 39.6 percent, plus he will pay a 3.8 percent Medicare tax. The NFL will pay for half of the Medicare tax, according to Americans for Tax Reform.

ForTheRecord says: While Brady may like his footballs deflated, his tax bill for the game was certainly inflated.