Tag: Odell Beckham Jr.

NFL star’s massive tax bill highlights problems with BTC salaries
Bitcoin

NFL star’s massive tax bill highlights problems with BTC salaries

NFL star Odell Beckham Jr.’s (OBJ) decision to take his $750,000 salary in Bitcoin (BTC) appears to have cost him dearly due to the market crash after he signed the deal. Owing to the vagaries of cryptocurrency tax laws and current prices, OBJ is estimated by some to have made 61% less than if he’d taken his salary in fiat. The loss has highlighted the tax complications from receiving a salary or yield in cryptocurrency, as crypto investors have to pay tax on the amount it’s worth when it was received, not what it’s worth when they lodge their tax return. On Nov. 12 last year, OBJ signed a one-year deal with the Los Angeles Rams worth $750,000. In a promotional Twitter post partnered with CashApp, OBJ announced that he would be receiving 100% of his $750,000 yearly salary in Bitc...
Rams player Odell Beckham Jr. will accept NFL salary in Bitcoin
Bitcoin

Rams player Odell Beckham Jr. will accept NFL salary in Bitcoin

Odell Beckham Jr., wide receiver for the Los Angeles Rams football team, has said he will be taking all of his $4.25 million National Football League salary in Bitcoin.In a Monday post to his Twitter account, Beckham said he would be partnering with Cash App to take his next NFL salary in Bitcoin (BTC). National Insider reporter Ian Rapoport said earlier this month that Beckham would be earning a $750,000 base salary on top of a $500,000 signing bonus in addition to $3 million in other incentives, totaling $4.25 million for the 2021 season.It's a NEW ERA & to kick that off I'm hyped to announce that I'm taking my new salary in bitcoin thanks to @CashApp. To ALL MY FANS out there, no matter where u r: THANK YOU! I’m giving back a total of $1M in BTC rn too. Drop your $cashtag w. #OBJBTC...