Agents ponder effect of likely tax increase on clients' salaries

Associated Press

Wednesday, November 5, 2008

DANA POINT, Calif. -- Some baseball agents already are thinking about trying to beat a possible tax increase for their well-paid clients under an Obama administration. President-elect Barack Obama has proposed increasing the top federal income tax rate from 35 percent to 39.6 percent, where it was under president Bill Clinton. If signing bonuses are paid before Jan. 1, they likely would be taxed at the current rate and would not be subject to any increase. "It's something we'll consider," a ...

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