Go for the Gold....and pay the IRS

Coach Deg · 08-02-2012, 08:55 PM

I personally do not think they should get taxed on these medal awards, but I do feel it works out in the long run.

- if you win gold and parlay it into endorsement deals a couple of thousand is not going to hurt you.

- if you win gold and do not have all of the endorsements, you will be able to write off all your training expenses and get it all back at tax time. ( I believe, I could be wrong)

08-02-2012, 08:55 PM	#19
Coach Deg C O W eieio. Join Date: May 2009 First Name: Mike Location: Hudson, FL Posts: 2,853 Trading: (59)	Re: Go for the Gold....and pay the IRS I personally do not think they should get taxed on these medal awards, but I do feel it works out in the long run. - if you win gold and parlay it into endorsement deals a couple of thousand is not going to hurt you. - if you win gold and do not have all of the endorsements, you will be able to write off all your training expenses and get it all back at tax time. ( I believe, I could be wrong)