Taxing Round

Six months ago Phil Mickelson complained about the amount of money he pays in taxes, particularly because he lives in California where the state tax is 13 percent. After his back-to-back wins at the Scottish and British Opens, he now has a lot more to complain about. According to Forbes, Mickelson will only keep about $843,000 of the $2,167,500 he won—an effective tax rate of more than 61 percent after U.K. and U.S. taxes. The Brits will also take a 45-percent piece on a percentage of Mickelson’s endorsement income (the "duty-day" formula takes his total workdays in the country divided it by his total workdays during the year times the endorsement fee). And when you add in his caddie Jim Mackay’s 10 percent take, along with the expenses for staying in Scotland for two weeks, his take-home pay is closer to 30 percent. The guess here is that the Claret Jug more than makes up for it.


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