Besides, the scare story that an Olympian might owe $9000 in taxes on a gold medal is only true for an Olympian who (a) didn't incur enough business expenses to offset the value, and (ii) made over $388,350 in 2012 to be taxed at the highest rate of 35% that they used in coming up with the $9000 headline.
I think it's a waste of time carving out a tax exemption for something the IRS itself has said it's hard to imagine anyone actually having to pay.Statistics: Posted by snoscythe — Sat Aug 04, 2012 6:53 pm
]]>