DamianTV
08-16-2016, 04:16 PM
http://www.infowars.com/uncle-sam-goes-for-gold-too-up-to-9900-per-olympic-gold-medal/
http://www.usatoday.com/story/money/personalfinance/2016/08/15/olympics-victory-tax-gold-medal/88587636/
Michael Phelps swims fast, but not fast enough to beat Uncle Sam, who awaits him at the finish line each time he wins a medal. His total income tax bill for the 2016 Games? Up to about $55,000 for his five golds and one silver.
Olympic athletes who bring home medals also bring home cash — $25,000 for gold, $15,000 for silver and $10,000 for bronze — paid for by the United States Olympic Committee. Like any prize winner, from a jackpot hitter to a Nobel Prize recipient, the athletes are taxed because Olympic medals and cash bonuses are considered income, said Steven Gill, associate professor of accounting at San Diego State University.
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Full article on links.
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You win! Here's a shiny medal that you can not sped, but we are gonna tax you on it anyway.
http://www.usatoday.com/story/money/personalfinance/2016/08/15/olympics-victory-tax-gold-medal/88587636/
Michael Phelps swims fast, but not fast enough to beat Uncle Sam, who awaits him at the finish line each time he wins a medal. His total income tax bill for the 2016 Games? Up to about $55,000 for his five golds and one silver.
Olympic athletes who bring home medals also bring home cash — $25,000 for gold, $15,000 for silver and $10,000 for bronze — paid for by the United States Olympic Committee. Like any prize winner, from a jackpot hitter to a Nobel Prize recipient, the athletes are taxed because Olympic medals and cash bonuses are considered income, said Steven Gill, associate professor of accounting at San Diego State University.
...
Full article on links.
---
You win! Here's a shiny medal that you can not sped, but we are gonna tax you on it anyway.