Baltimore Ravens quarterback Joe Flacco looks at the inside of 2014 Corvette Stingray, given to him as MVP / Darron Cummings, AP
DETROIT - 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, K. Sean Packard, a certified public accountant 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, introduced three weeks ago at the North American International Auto Show here.
If he decides to donate the car to charity, the tax bill would vary greatly depending on how he does it, Packard said.
Accepting the car and then donating it to charity would cost him about $6,900 more in taxes than just directing General Motors to donate the high-performance car without ever taking the keys.
But don't feel sorry for Flacco. He is a free agent after this season, and he is expected to garner a contract that will pay at least $10 million a year.
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