Philadelphia Eagles enjoy reduced tax on Super Bowl bonus


Every Philadelphia Eagles player will get a $112,000 bonus for winning the Super Bowl. But when it comes to federal taxes, the Eagles are also likely to get a little bit of a break this year.

Because of the tax cut that President Donald Trump signed in December, each team member will pay about $41,000 to Uncle Sam on that prize money. That's down from what would have been about $44,000 under the old rules. There are still Minnesota state taxes to take into account.

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Meanwhile, Bon-Ton stores, the corporate parent of several department store chains, filed for Chapter 11 bankruptcy protection. Bon-Ton, whose brands include Boston Store, Carson's, Elder-Beerman and Younkers, recently announced plans to close 47 of its 260 stores. The company is weighed down by heavy debt and also a victim of increased online shopping.

And Best Buy says it will hand out bonuses to more than 100,000 employees, joining a growing list of U.S. companies sharing a portion of their windfall from the federal tax overhaul with employees. Best Buy will pay one-time bonuses of $1,000 to full-time workers and $500 to part-time employees.

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