Jon Moxley is no longer in WWE, but he remembers those days well. Things especially got very confusing around tax time. This is why he needed to finally hire an accountant.
Renee Paquette has a new podcast called Oral Sessions. During her debut episode, she invited Jon Moxley onto the show where he discussed several subjects pertaining to WWE’s lifestyle, particularly when it came to money.
First off, Moxley made it very clear that WWE talent are not independent contractors. “You’re a f*cking employee,” Moxley stated, but of course, WWE doesn’t see it that way. His goal was to simply save as much money as he could for the future.
“When I was doing my taxes in WWE, because you’re an independent contractor – which is not true – you’re a f*cking employee. So, you have to pay your taxes. In the developmental first couple of years, I didn’t make that much money. I was able to do them myself on TurboTax.”
“When I had been on WWE for a while and working on a bunch of different states, I started to make more money and taxes became more confusing. So, I look up an accountant; I didn’t know sh*t. I only had a bank account for two years. So, I find my accountant and financial advisor, I walk into their office, and I explain my situation. They asked what do I want to do with my future.”
“I said, ‘Well, I’m finally making some money now. I don’t know when this is going to end. This could end tomorrow, so I just want to save as much as humanly possible.’ So then, in five years, if this all goes to sh*t, I’m good.”
“That was my plan when I just started to make a little money in WWE. I was going to hoard it and save it because this could end at any moment. Went up, and had really nice, long run. Went over five years, but I still have that same mentality. I don’t ever want to depend on anyone else for a paycheck if that was the case.”
Lance Storm recently admitted that his accountant refused to file his taxes as an independent contractor, because under WWE’s contract they don’t qualify as that at all.
Jon Moxley doesn’t have to worry about WWE’s policies anymore, and his wife Renee Paquette doesn’t have those concerns either. He did a good enough job saving his money, but odds are he’s not done yet. Hopefully, those concerns are in the past at this point, but it won’t change his mindset that it’s better to save your money than spend it all.
Thanks to Wrestling Inc for the quote