Friday, August 17, 2007

Barry Bonds' 756th home run ball may result in big tax bill


21-year-old Matt Murphy snagged a valuable piece of sports history when he caught Barry Bonds' 756th home run. By most estimates, the ball would sell in the half-million dollar range on the open market or at auction. It therefore places Murphy in the highest tax bracket for individual income, where he may face a tax rate of about 35 percent, or about $210,000 on his $600,000 baseball. Kind of sucks eh?

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