kcjenkins Posted August 10, 2012 Report Share Posted August 10, 2012 My guess is that very few 'true' amateurs make it to the Olympics except in the real oddball sports. But even if they do, it would be hard to justify exempting them from SE tax when they have clearly worked long and hard to earn that prize. It's not something that 'just happened' like winning a contest where all you did was drop your name in the box or filling out a form, etc. Or being the 5000th customer, etc. Quote Link to comment Share on other sites More sharing options...
taxxcpa Posted August 11, 2012 Report Share Posted August 11, 2012 [ Maybe it's not a bad idea after all, Michael Phelps is expected to earn 100 mil in endorsements over the course of 10 years. Maybe that $100 million should also be exempt from tax. Maybe great athletes should be exempt from all taxes for life.. Quote Link to comment Share on other sites More sharing options...
Randall Posted August 13, 2012 Report Share Posted August 13, 2012 Finally, it's over. 1 Quote Link to comment Share on other sites More sharing options...
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