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Report: Belichick Can Deduct Massive Fine

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Sep 18, 2007 11:55 am US/Eastern

Report: Belichick Can Deduct Massive Fine

FOXBORO (WBZ) ― There may be a silver lining in that massive fine Bill Belichick was ordered to pay the NFL last week for videotaping New York Jets coaches earlier this month.

He may be able to deduct it from his taxes.

The $500,000 fine was the largest ever for an NFL coach.

According to the Wall Street Journal, he can probably write it off.

The paper cited a blog that involved 12 tax law professors who debated the issue. Most concluded it's deductible "under section 162 of the internal revenue code, 'trade or business expenses'.

One professor wrote that the fine can be viewed as "an ordinary and necessary business expense."

(© MMVII, CBS Broadcasting Inc. All Rights Reserved.)

© MMIX, CBS Corporation. All rights reserved.