Sports

Joe Flacco’s MVP award could cost him $25,000 in taxes

When sportswriters, broadcasters and fans voted Joe Flacco the Most Valuable Player of Sunday’s Super Bowl they also handed him a sizeable tax bill should he decide to keep the 2014 Corvette Stingray that comes with the award.

Writing in Forbes, CPA K. Sean Packard, who specializes in preparing tax returns for professional athletes, estimated that the Baltimore Ravens quarterback would pay $25,700 on an estimated value of $60,000 for the Corvette, which was introduced three weeks ago at the North American International Auto Show in Detroit.

Full story: Joe Flacco’s MVP award could cost him $25K