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re: Bama boosters paid off the Saban's home (has this really not been posted?)
Posted on 10/27/14 at 9:11 am to Aman
Posted on 10/27/14 at 9:11 am to Aman
quote:
I would assume they bought the house from him so they own it and Saban is allowed to live their rent free as long as he likes. If he ever decides to leave that house then they can sale it and hopefully get back most if not all of what they paid for it. If they just give him money Saban still owns it.
FMV of rent should be included in Saban's gross income unless there is some cool rule they are abusing to get him out of that. Does he host functions there?
1
Posted on 10/27/14 at 9:15 am to thelawnwranglers
quote:
FMV of rent should be included in Saban's gross income unless there is some cool rule they are abusing to get him out of that. Does he host functions there?
Why the hell are you so concerned? I'm sure they structured it within the tax law and are following the rules. So if rent would be $12,000 a month I'm sure he is paying tax on that $144,000 a year. I'm pretty sure he can swing that tax bill. I also bet Saban has good accountants and lawyers that structured it the most advantageous way for him.
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