Micah Parsons is worth every penny the Dallas Cowboys are paying him.
The former Penn State standout won Defensive Rookie of the Year honors after tallying 64 solo tackles, three forced fumbles, and 13 sacks.
He showed his versatility when he played on the defensive line and gave the Cowboys some semblance of a pass rush.
Parsons did all these while being just a $3.1 million cap hit for the Cowboys last season.
From that amount, $2,445,417 is part of his signing bonus, putting his base salary at $660,000.
But now that he’s earning more money, he couldn’t escape complaining about a common grievance for everyone who gets paid.
Man taxes !!!!!
— Micah Parsons (@MicahhParsons11) March 3, 2022
You could hear Parsons saying “Man taxes !!!!!” as if he was on the field raising his voice.
However, he couldn’t do anything about taxes because it will always be a part of anything he earns.
There’s some good news and bad news regarding his taxes.
The good news is that Texas does not charge income taxes.
Therefore, his tax cut could have been higher if the state requires taxes from every game he played in Dallas.
Meanwhile, the bad news is that athletes are often in the higher tax brackets and they must file tax returns in each state they played in.
Aside from the process being complicated, the tax rates for each state varies.
Financial Literacy Is Important
Parsons’ tweet may be short but it highlights a need to enhance an athlete’s financial literacy while they are in college.
Big contracts for their name, image, and likeness may start to come in and they must learn how to deal with taxes and money.
Having that knowledge will help them spend their money better, knowing that what their contract states isn’t the final amount they will receive.
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