LOS ANGELES (CBSLA.com) — Thanks to his recent wins at both The Open Championship and the Scottish Open, Phil Mickelson pocketed more than $2.16 million in just two weeks.
The world’s top golfer —who came under fire earlier this year when he complained about his supposed 60 percent tax rate as a California resident — is taking another hit on his recent earnings.READ MORE: Recovering COVID Patients Face Massive Medical Bills After Hospitalization
According to Forbes, Mickelson has been subjected to the United Kingdom’s 45 percent tax rate for those who make more than £150,000 a year. In addition, the magazine reports, he will be taxed on a portion of the endorsement income he earned during his time in Scotland.
While Mickelson can take a foreign tax credit to avoid being taxed again by the U.S. government, he still has to pay self-employment taxes, the new Medicare surtax, and hand over 13.3 percent of his wages to the state of California, which does not have a foreign tax credit, Forbes reported.
Forbes estimates he will take home $842,700, which, of course, does not include any of his tax-deductible travel expenses and the additional 10 percent he owes to his caddy.READ MORE: 2 Killed In Rowland Heights Shooting, Suspect At Large
Mickelson is sponsored by KPMG, which manages an official Twitter account for his signature hat and is now refurbishing a school library in Orange County.
It’s not known whether Mickelson is planning on leaving California, but his $7 million Rancho Santa Fe estate is on the market.MORE NEWS: LAPD Motorcycle Officer Taken To Hospital After Crash