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

[Starscream]

Originally Posted by Coach Deg

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)

They're not being taxed for the medal, they are being taxed for the prize money.