The financials behind the Piston’s waiving Smith.
How this move saves Josh Smith $1.3M.
 These tables assume the Pistons would have the same schedule for the next few seasons as they do this current season and used 2014 state and local tax rates for single filing taxpayers.
 This table assumes federal marginal tax brackets will grow at the same average growth of 1.64% that they have grown since the new 39.6% marginal tax rate was introduced. The single filing taxpayer tax rates were utilized in these calculations.
 It is possible for the Pistons to reduce the amount they owe Smith by some of the contract the new team pays Smith. However, at the time of this article Smith has yet to clear waivers so has yet to sign a new contract with a new team. Regardless, the impact to Smith’s tax savings when he signs this new deal that subsequently offsets what the Pistons owe Smith will be minimal. If Smith were to sign his new contract for the veteran minimum the Pistons would be able to reduce the remaining $30M+ they owe him by $316,000. This would equate to roughly an $8,000 reduction in the $1.3M tax savings for Smith.