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Originally posted by Nevadaref
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Originally posted by Mark Dexter
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Originally posted by BktBallRef
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Originally posted by ChrisSportsFan
As far as other people wanting to cover the fine for him, it seems like not much of a punishment if rich businessmen are willing to step in and cover your fines. Maybe this is a lesson for Stern that the next penalty needs to be tripled if people are going to pay it for him, and then they need to give the $ to a charity.
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I once read that fines were deducted from a player's/coach salary and sent to the league. I don't know if that is true. But if someone "reimbursed" him for the fine, I beleive that would be considered income and be taxable. It's difficult to hide a $100K gift.
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From what I've been hearing - when Yao Ming offered to pay half the fine - it's also against NBA rules. Dealing with Stern is bad enough, I wouldn't want to bring in the IRS!
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Well according to a court ruling some years back, fines are tax deductible because they were deemed a business expense, so if someone else pays him back he is in exactly the same salary situation as before the fine as far as the IRS is concerned.
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Except for this:
http://www.irs.gov/businesses/small/...=98968,00.html
[Edited by Dan_ref on May 10th, 2005 at 09:50 AM]