Win an olympic medal owe the IRS!

[jedi]

Winning a gold medal brings a $9,000 tax bill | Fourth-Place Medal - Yahoo! Sports

Ouch!

If you win a gold medal at this years olympics you will owe the IRA $8,986, silver is $5,385 and bronze is $3,500. This is PER medal!*

*Actually it's per the prize money that each medal brings to the holder.

 

[LEaSH]

They didn't win that medal!

 

[jgreiner]

Sigh, just one more example of this gov't punishing success.

 

[Mackey]

Well, I think they should pass a law to make Olympic earnings tax free. But don't feel too sorry for them... From the article:

The United States Olympic Committee rewards Olympic medalists with honorariums. A gold medal brings $25,000. Silver medals get you $15,000. And a bronze is worth $10,000.

 

[jedi]

They didn't win that medal!

on me! U r correct!

 

[indyjoe]

If it is taxed as income, then do you deduct your travel expenses to the Olympics to offset?

 

[printcraft]

They didn't win that medal!

+1

You must spread some Reputation around before giving it to LEaSH again.

 

[cesna250]

"Congratulations on winning an Olympic medal!!! Now you have to pay for it".

 

[mike8170]

If it is taxed as income, then do you deduct your travel expenses to the Olympics to offset?

I would think so. Deduct travel, food, booze, hookers.........etc.

 

[gunman41mag]

If it is taxed as income, then do you deduct your travel expenses to the Olympics to offset?

also deduct, food, drinks, & hotel

 

[jedi]

They didn't win that medal!

If it is taxed as income, then do you deduct your travel expenses to the Olympics to offset?

I would think so. Deduct travel, food, booze, hookers.........etc.

also deduct, food, drinks, & hotel

I think the food is free in the village as are the condems. Travel i thought the us olympic committee paid for so they probably can deduct either.

 

[Dr Dave]

and deduct ALL training expenses because without that you wouldn't have won

 

[! twitty]

I would think so. Deduct travel, food, booze, hookers.........etc.

Why not, we all know that the Secret Service does...

 

[IndyDave1776]

If it is taxed as income, then do you deduct your travel expenses to the Olympics to offset?

Forget travel expenses, what about training. Most of them spend a whole lot more than most of us make.

 

[CX1]

They didn't win that medal!

Damn right, just ask Mitt.

"You Olympians, however, know you didn't get here solely on your own power. For most of you, loving parents, sisters or brothers, encouraged your hopes, coaches guided, communities built venues in order to organize competitions. All Olympians stand on the shoulders of those who lifted them. We’ve already cheered the Olympians, let’s also cheer the parents, coaches, and communities. All right!"

See for yourself at about 1:40 into the video below.
[ame]http://youtu.be/S8Yp9SVSWJU[/ame]

 

[Blackhawk2001]

I didn't know the Irish Republican Army was collecting taxes from Olympians now, but I guess they aren't much different - in their tactics - from our Internal Revenue Service at that.

 

[IndyDave1776]

I didn't know the Irish Republican Army was collecting taxes from Olympians now, but I guess they aren't much different - in their tactics - from our Internal Revenue Service at that.

I got the 'spread the rep' scold.

 

[Hawkeye]

I would think so. Deduct travel, food, booze, hookers.........etc.

Hookers? Or did you mean " Hook-Ups"? Heard on NPR that the Peking Olympics provided the athletes with 100,000 condoms. London outdid that with 150,000! Back in the day, our coaches told us to abstain prior o competitions...

 

[hornadylnl]

Damn right, just ask Mitt.

See for yourself at about 1:40 into the video below.
http://youtu.be/S8Yp9SVSWJU

Where's the anti "you didn't build that" crowd now?

 

[IndyDave1776]

Where's the anti "you didn't build that" crowd now?

It works the same way that when I eat in a restaurant and enjoy a really good meal, I don't waste my time congratulating the cook, but rather come to the conclusion that it must have been a damned fine truck that hauled the food there!

(assume purple as needed)