The US Olympians used to have to pay tax on their earnings from winnings until 2016 when Obama changed that by preventing the IRS from collecting taxes on those awards.
Maybe unpopular opinion, but they should still. Why should it be tax exempt? At the end of the day, it’s not enough money to worry about so it doesn’t really matter. They aren’t doing charity or anything though, just work that happens to be a sport and at a very high level. If we tax the rich just a tiny bit more it brings in far more tax money though, so I’d focus on that instead.
I’m pretty sure they make the athletes pay for the medals too. What a ripoff.
The US Olympians used to have to pay tax on their earnings from winnings until 2016 when Obama changed that by preventing the IRS from collecting taxes on those awards.
thanks obama
Maybe unpopular opinion, but they should still. Why should it be tax exempt? At the end of the day, it’s not enough money to worry about so it doesn’t really matter. They aren’t doing charity or anything though, just work that happens to be a sport and at a very high level. If we tax the rich just a tiny bit more it brings in far more tax money though, so I’d focus on that instead.
Maybe they should tax it if they sell the award. Else the athletes need to pay to put their prize in their prize closet.
What!?
I SAID, IM PRETTY SURE THEY MAKE THE ATHETES PAY FOR THE MEDALS TOO! WHAT A RIPOFF!
But after searching for this info on the internet, I’m finding that I could be just entirely wrong about this.
Unless they make the sponsors pay and also like a lump sum of money from the sponsors to the athletes I don’t see that as a good idea.
The athleyes does not pay their medals they win, wtf??