Huston Street selling mansion in TX

[KevinJ14]

Pictures and details included here:

http://www.realtor.com/news/angels-closer-huston-street-selling-austin-estate-5-4m/

[disarcina]

His father passed away (suddenly) two years ago. So maybe his family is relocating to the West Coast.

 

His dad was a Texas (University of Texas) football icon having led the Longhorns to a national title as QB.  Before that he was multi-sport all star Texas high school athlete. He was QB for his high school football team and in his senior year, his final HS game, he took his team to the championship game......was doing the fourth quarter two minute drill driving his team to the end zone with a chance to win the championship game when he called a time out with little time left not realizing his team was OUT OF TIME OUTS..........

 

after all his football success, James Street started up a very successful financial services business part of which catered to financing law firms and legal cases.

 

His late father is still a sports legend in Texas.

[KevinJ14]

His father passed away (suddenly) two years ago. So maybe his family is relocating to the West Coast.

 

His dad was a Texas (University of Texas) football icon having led the Longhorns to a national title as QB.  Before that he was multi-sport all star Texas high school athlete. He was QB for his high school football team and in his senior year, his final HS game, he took his team to the championship game......was doing the fourth quarter two minute drill driving his team to the end zone with a chance to win the championship game when he called a time out with little time left not realizing his team was OUT OF TIME OUTS..........

 

after all his football success, James Street started up a very successful financial services business part of which catered to financing law firms and legal cases.

 

His late father is still a sports legend in Texas.

Nice story.  Btw he is looking for a home near the Colorado River

Edited January 24, 2015 by KevinJ14

[totdprods]

Nice story. Btw he is looking for a home near the Colorado River

The house he is selling is on the Colorado River...

Edited January 24, 2015 by totdprods

[Vegas Halo Fan]

I never realized that the Colorado River ran through Texas.

 

We ought to go in together and buy the place to use as an AW time share.

[ettin]

VHF, Chuck would ruin the sheets and we'd all take a loss on our investment.

[Vegas Halo Fan]

VHF, Chuck would ruin the sheets and we'd all take a loss on our investment.

 

Good point. Maybe we had better pass.

[2002_halos_II]

Street is looking for $5.4 million for the 10,198-square-foot house on an acre of land by the Colorado River.

It's a steal!

[mp170.6]

I thought athletes preferred states like Texas or Florida because there's no state income tax?

[Vegas Halo Fan]

I thought athletes preferred states like Texas or Florida because there's no state income tax?

 

Many do.

[Yellow Balloon]

I never realized that the Colorado River ran through Texas.

 

We ought to go in together and buy the place to use as an AW time share.

There are two Colorado Rivers.  The one in Texas is located entirely within the state.  The part that passes through Austin is generally referred to as Lake Austin.  

[Vegas Halo Fan]

There are two Colorado Rivers.  The one in Texas is located entirely within the state.  The part that passes through Austin is generally referred to as Lake Austin.  

 

Thanks for the clarification. Considering that the Colorado River I know of feeds through Hoover Dam about 30 miles from here, that was confusing.

[Stradling]

I thought athletes preferred states like Texas or Florida because there's no state income tax?

Players are taxed at the rate of the state they play the games. So if the Angels play in Seattle and then go to Texas, they get taxed for the games worth of earnings at Washingtons rate then whatever the rate is in Texas, which I guess is zero. So when we talk about the tax implications of signing in Florida or Texas, it only helps about half of what most think.

[Vegas Halo Fan]

Players are taxed at the rate of the state they play the games. So if the Angels play in Seattle and then go to Texas, they get taxed for the games worth of earnings at Washingtons rate then whatever the rate is in Texas, which I guess is zero. So when we talk about the tax implications of signing in Florida or Texas, it only helps about half of what most think.

 

True, but if you're earning millions and you play your home games in a state with no income tax, the difference is substantial.

[Stradling]

Yea, 5% or so.

[Stradling]

Or 6.5% in Ca or NY.

[CaliAngel]

Yes I'd much rather keep 5% of the $1,000,000 I make per year.

[Stradling]

Yep, and play for the Rangers, Astros, Marlins or Rays, instead of the Angels, Dodgers, Yankees or Red Sox.

[Docwaukee]

Only 10,000 sqft?  He must be pretty cramped in there. No wonder he's trying to move.  

[Stradling]

Only 10,000 sqft? He must be pretty cramped in there. No wonder he's trying to move.

I'm guessing it's more the commute.

[AngelsSurfer]

I was under the impression that when one filed income tax for the year, it was based on state of legal residence. In a case like a baseball player, they'd be liable for taxes in either one or two states: the state where they keep a residence/live during the offseason and the state in which their team is located, where the checks are being cut. When the Angels are playing in Texas they're not being paid by the Texas team; they're still being paid by the Angels' front office. And they're not getting paid by the hour or day, so it would be a logistical nightmare for accounting to sit there figuring out what percentage of their salary should be taxed at each state's rate.

 

And I'm basing that on friends who have been on concert/theatre tours that traveled around the country - who only pay taxes to their own home state - and my own experience in going on assignments out of state in my profession. If I get sent to Washington to work for a week, I don't pay income tax to Washington. I'm still working for a California company and still residing in California officially. My check is still cut by my employer here in California, they still withold taxes at California rates, and I'm filing California tax returns. If, however, they sent me to Washington for six months, I'd probably be considered a part time resident of both California and Washington and my income tax liability would be split between the two.

Edited January 25, 2015 by AngelsSurfer

[Ohtaniland]

It is a logistical nightmare. We have a family friend that handles the payroll for the Anaheim Ducks and figuring the percentage of taxed salary in each state is part of her job.

[stormngt]

When a Angel plays in Texas he is working in the state of Texas, thus Texas has jurisdiction for taxation. It is the same for all the other states.

I was under the impression that when one filed income tax for the year, it was based on state of legal residence. In a case like a baseball player, they'd be liable for taxes in either one or two states: the state where they keep a residence/live during the offseason and the state in which their team is located, where the checks are being cut. When the Angels are playing in Texas they're not being paid by the Texas team; they're still being paid by the Angels' front office. And they're not getting paid by the hour or day, so it would be a logistical nightmare for accounting to sit there figuring out what percentage of their salary should be taxed at each state's rate.

And I'm basing that on friends who have been on concert/theatre tours that traveled around the country - who only pay taxes to their own home state - and my own experience in going on assignments out of state in my profession. If I get sent to Washington to work for a week, I don't pay income tax to Washington. I'm still working for a California company and still residing in California officially. My check is still cut by my employer here in California, they still withold taxes at California rates, and I'm filing California tax returns. If, however, they sent me to Washington for six months, I'd probably be considered a part time resident of both California and Washington and my income tax liability would be split between the two.

[wopphil]

What a stunning house/property. I can't imagine many better places to live than on a river like this one.

[disarcina]

oh well.

 

the Colorado River is pretty nice, too.