Lefty has to scratch a sizable check to the Tax Man:
According to Forbes, Mickelson has been subjected to the United Kingdom’s 45 percent tax rate for those who make more than £150,000 a year. In addition, the magazine reports, he will be taxed on a portion of the endorsement income he earned during his time in Scotland.
While Mickelson can take a foreign tax credit to avoid being taxed again by the U.S. government, he still has to pay self-employment taxes, the new Medicare surtax, and hand over 13.3 percent of his wages to the state of California, which does not have a foreign tax credit, Forbes reported.
Forbes estimates he will take home $842,700, which, of course, does not include any of his tax-deductible travel expenses and the additional 10 percent he owes to his caddy.
