MrTed46 Posted July 13, 2011 Share Posted July 13, 2011 kids a fool Quote Link to comment Share on other sites More sharing options...
Jackass Posted July 13, 2011 Share Posted July 13, 2011 looks like maybe his good deed is turning out not to be such a dumb decision after all... Now if he could only get some miller high life thrown into the deal. One good turn deserves another, and another, and another. Christian Lopez, a 23-year-old cellphone salesman from Highland Mills, N.Y., decided to return Derek Jeter's 3,000th hit ball Saturday instead of trying to cash in. He received memorabilia and tickets from the New York Yankees but then found out he may have to pay taxes on that windfall. If he does, at least two companies said Wednesday that they are ready to strike out his debt. But that's not all! For his generosity, Lopez will also get his own baseball card and has received a 2009 World Series ring. According to accountants contacted by the New York Daily News and The New York Times, Lopez's tax bill on the Yankees merchandise could end up being anywhere from $5,000 to $14,000. More From ESPNNewYork.com Derek Jeter rejuvenated Yankees fans with his 3,000th hit, as the Captain conjured a drink from the Fountain of Youth, writes Ian O'Connor. Story Jeter finally delivered an iconic memory in the new Yankee Stadium, and this one is destined to live forever, writes Wallace Matthews. Story The only thing better than Jeter's feat? The fact that Yankees fans were on hand to witness the magical moment at home, writes Rob Parker. Story • Yankees blog | ESPN New York "Worse comes to worse, I'll have to pay the taxes," Lopez told the Daily News on Monday. "I'm not going to return the seats. I have a lot of family and friends who will help me out if need be. "The IRS has a job to do, so I'm not going to hold it against them, but it would be cool if they helped me out a little on this." Well, it looks as if he will get plenty of help. Miller High Life issued a statement Wednesday saying that the company would cover Lopez's tax bill. "Miller High Life believes you should be rewarded for doing the right thing, not penalized," Miller High Life brand manager Brendan Noonan said in a statement. "We want to recognize Christian Lopez, and in turn everyone like him, for doing the common sense thing and help him continue to live the High Life." The 2009 Yankees World Series ring came courtesy of Mitchell Modell, CEO of Modell's Sporting Goods, who got the ring because Modell's sponsors the Yankees. Both Modell and Brandon Steiner, CEO of Steiner Sports, guaranteed Lopez at least $25,000 each toward his outstanding student loans of $150,000. Steiner said he got a call on Wednesday from his buddy Modell, and they got the ball rolling. Steiner set up an auction of memorabilia that eventually will include baseballs signed by both Lopez and Jeter and said Modell is pledging 5 percent from the sale of Yankees-related merchandise at the Modell's chain during what will be called "Christian Lopez Week." "That itself is a totally awesome situation right now for all parties involved," Lopez said. What impressed the sports executives -- as well as countless fans across the country -- was the way Lopez passed on the chance to sell the ball. "Can you believe how good a mensch this kid was?" Steiner said. Modell called Lopez "truly a true New Yorker" and "a class act." Steiner even taught Lopez how to properly sign a baseball. Wearing a broad smile, a personalized Yankees hat, a DJ3K shirt and a new piece of jewelry, Lopez admitted at Modell's in Times Square he was "absolutely speechless right now." Lopez has been overrun with requests since Saturday. "It's been overwhelming to be honest with you," he said. "It's been a little crazy. But I'm handling it as best I can. I'm trying to get back to everybody I can." The Captain In Photos With Derek Jeter notching his 3,000th hit, let's look back on The Captain's greatest moments in pinstripes. Photo gallery Derek Jeter's Quest for 3,000 » That includes Topps, which said it will produce a trading card featuring Lopez that will be included in sets later this year. Company vice president for sports Mark Sapir says Topps employees were impressed by Lopez's selfless act. "Yeah, I spoke with them a couple days ago," Lopez said. "All I know, is they kind of want to make a baseball card out of me." Sapir says Topps also will have Lopez choose the image for its 2012 Derek Jeter card. Lopez was an avid collector as a kid. He said he has "probably a couple thousand baseball cards." His favorite? A Yankees card, of course. It depicts Babe Ruth and one of the Yankees' owners at the time he came over from the Red Sox in 1920. "It's a very dear card to me. I've had it for 15 years now or so," Lopez said. According to reports, the Yankees gave Lopez luxury box tickets for the rest of the season (including postseason), signed baseballs, bats and spamshirts from Jeter. He also received front-row seats to Sunday's Yankees-Rays game. Quote Link to comment Share on other sites More sharing options...
rocknrobn26 Posted July 14, 2011 Share Posted July 14, 2011 Bottom line: If he kept the ball and got out of the stadium alive, he wouldn't be taxed on it until he sold it. Correct? Sorta like winning the lottery.... don't claim it until you have all your ducks in a row. Quote Link to comment Share on other sites More sharing options...
Jackass Posted July 14, 2011 Share Posted July 14, 2011 Bottom line:If he kept the ball and got out of the stadium alive, he wouldn't be taxed on it until he sold it. Correct? Sorta like winning the lottery.... don't claim it until you have all your ducks in a row. i don't get why that's the bottom line He's not going to have to pay any taxes. Quote Link to comment Share on other sites More sharing options...
rocknrobn26 Posted July 14, 2011 Share Posted July 14, 2011 (edited) i don't get why that's the bottom line He's not going to have to pay any taxes. Someone will pay and if the IRS determines the"Tax Payment" is a gift (see above), he'll probably pay taxes on the tax gift. If he kept the ball and sold it discretely, he'd probably get away scot-free. Then again maybe not. Years ago there was a story about a gambler in Vegas who owed a casino ~$3m. He talked them down to ~$0.5m. IRS taxed him on the other $2+m. As it turned out his conviction was reversed after appeal. IRS v Zarin. Tax experts??? Edited July 14, 2011 by rocknrobn26 Quote Link to comment Share on other sites More sharing options...
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