taxes

[golferdude54]

Taxes in professional golf are pretty funny because other than 2020-2021, the high of winning the Masters is immediately cut off by having to file taxes the very next day in order to submit them on time.

[Ferguson]

9 hours ago, TiScape said:

Never a fan. 

 

All these people eventually had problems.  

[golfortennis]

16 hours ago, ATXGolferGuy said:

I'd play every tournament I could in Texas, Florida, Tennessee, and Nevada. If the tour every scheduled stops in Wyoming, Washington, New Hampshire, and South Dakota I'd play all those too.  

 

I wonder about the players endorsement contracts...if those get taxed in their home state or in every state they play in on a % basis.  I would hope the former if you're in one of those states above. 

 

I would assume they get to deduct the cost of the PJ flights, caddy fees etc, etc against their earnings. 

 

I recall about a decade ago, and not sure if it is still in place, that the UK wanted a piece of endorsement deals as well.  So Phil Mickelson wins the Open Championship, pays taxes on that prize money.  If Mickelson was making $50 million in endorsements at the time, they wanted 4/365 x tax rate of that money as well.  If he played more events in the UK you can add more days to that total.   Not sure what ever came of it.  

 

Tennessee used to have a jock tax of $7,500 per game.  Flat fee, no percentages.  The NFL was conveniently exempt from it, but an NHL player on a minimum salary actually lost money playing a game there because that was more than his per game salary.  

 

The accountant I use does a lot of hockey players' taxes, and they file north of 35 returns a year, and unless there is something about our tax system for athletes I don't know about, only one of them is a Canadian return.

[TiScape]

2 hours ago, Ferguson said:

 

All these people eventually had problems.  

 

[Ferguson]

30 minutes ago, TiScape said:

 

 

Todd Bridges

Substance abuse and lawsuits 

 

Conrad Bain

Alcohol abuse

RIP

 

Charlotte Rae

Invested with Bernie Madoff

RIP

 

Dana Plato

Substance, dirty movies and financial ruin

RIP

 

Gary Coleman

Health problems, lawsuits 

RIP

 

[TiScape]

1 minute ago, Ferguson said:

 

Todd Bridges

Substance abuse and lawsuits 

 

Conrad Bain

Alcohol abuse

RIP

 

Charlotte Rae

Invested with Bernie Madoff

RIP

 

Dana Plato

Substance, dirty movies and financial ruin

RIP

 

Gary Coleman

Health problems, lawsuits 

RIP

 

Oh I know. But who can resist using the “whatchu talkin ‘bout Willis’ GIF?! 
 

Not me!! 😆 

[Ferguson]

Gary Coleman was 30 years old when they filmed that show.

 

Conrad Bain was a 6 HC.  

Solid player.

 

 

[TiScape]

Just now, Ferguson said:

Gary Coleman was 30 years old when they filmed that show.

 

Conrad Bain was a 6 HC.  

Solid player.

 

 

I actually think (w/o Googling) he was 30 when he was a parking lot security guard 🤔 

[Ferguson]

14 minutes ago, TiScape said:

I actually think (w/o Googling) he was 30 when he was a parking lot security guard 🤔 

 

Hard to confirm his age.  Part of a lawsuit - that  he misrepresented himself.  He was shaving in season 3.  

 

 

[TiScape]

1 minute ago, Ferguson said:

 

Hard to confirm his age.  Part of a lawsuit - that  he misrepresented himself.  He was shaving in season 3.  

 

 

Indeed. Like a Dominican MLB player. Some say Albert Pujols is actually 55. 

[bladehunter]

On 7/7/2025 at 9:16 AM, Ferguson said:

 

Eagles, as a band - overrated.  However, I had an Aunt that looked like Joe Walsh.  I will see if i can find and post an old picture.   

Agree. They’re Like a caricature of an organic band.  Like the fake band in any “ band “ movie.  Too commercial to be real.  

[Hawkeye77]

15 hours ago, golferdude54 said:

Taxes in professional golf are pretty funny because other than 2020-2021, the high of winning the Masters is immediately cut off by having to file taxes the very next day in order to submit them on time.

LOL, I’d be surprised if they have their accountants wait until the last minute to file their federal return.  

[TiScape]

I still can’t see the title of this thread and not think

 

’Death and…’. 

[bladehunter]

54 minutes ago, Hawkeye77 said:

LOL, I’d be surprised if they have their accountants wait until the last minute to file their federal return.  

I have  customer who’s a half a billionaire.  And still making it hand over fist.  He refuses to pay them a second before he has to.  I know this because my wife does his taxes.  And it peeves her to no end to wait to do it.  He will pay them on his black metal Amex card and then take a trip on the points.  

[TiScape]

23 minutes ago, bladehunter said:

I have  customer who’s a half a billionaire.  And still making it hand over fist.  He refuses to pay them a second before he has to.  I know this because my wife does his taxes.  And it peeves her to no end to wait to do it.  He will pay them on his black metal Amex card and then take a trip on the points.  

I remember when $500 mil was a lot of money. 

[cdnglf]

3 hours ago, Ferguson said:

Gary Coleman was 30 years old when they filmed that show.

 

Conrad Bain was a 6 HC.  

Solid player.

 

 

Gary Coleman, 7th alternate Governor of California

[bladehunter]

3 hours ago, TiScape said:

I remember when $500 mil was a lot of money. 

Yep.  You could buy a nice brick ranch with carport and still have money left for a Cadillac and private school for the kids.  Now 😂- Kia’s and a duplex.    It’s kind of sad. 

[TiScape]

17 minutes ago, bladehunter said:

Yep.  You could buy a nice brick ranch with carport and still have money left for a Cadillac and private school for the kids.  Now 😂- Kia’s and a duplex.    It’s kind of sad. 

Don’t sleep on KIA. The K5 GT is a respectable lil ride. 

Edited July 8 by TiScape

[aabcuue]

4 hours ago, cdnglf said:

Gary Coleman, 7th alternate Governor of California

No almost the boss in “Office Space”

https://www.imdb.com/title/tt0151804/

 

[aabcuue]

Surprised no one has responded or commented here on the article about Michael Kim earnings and taxes on golfwrx.

 

Article seems a pretty accurate summary.

 

Caddy rate do vary by player. Lower rate for making cut and higher for top10 and winning. 8% assumes a lot of winning or top10.

https://www.golfwrx.com/763024/pga-tour-pro-reveals-how-much-a-top-50-player-earns-per-year-less-expenses/

[Hawkeye77]

4 hours ago, aabcuue said:

Surprised no one has responded or commented here on the article about Michael Kim earnings and taxes on golfwrx.

 

Article seems a pretty accurate summary.

 

Caddy rate do vary by player. Lower rate for making cut and higher for top10 and winning. 8% assumes a lot of winning or top10.

https://www.golfwrx.com/763024/pga-tour-pro-reveals-how-much-a-top-50-player-earns-per-year-less-expenses/

Why? Most have a good understanding of how their earnings shake out.  

[ronnbee]

Now what happens - over seas

[AZBRONCFAN]

3 hours ago, ronnbee said:

Now what happens - over seas

Huge tax bill. UK tax owed. 

[stratgolf]

13 minutes ago, AZBRONCFAN said:

Huge tax bill. UK tax owed. 

 

Big issue with tournaments in Australia. The winnings are halved.

[slocalifglfr]

On 7/7/2025 at 6:16 AM, Ferguson said:

 

Eagles, as a band - overrated.  However, I had an Aunt that looked like Joe Walsh.  I will see if i can find and post an old picture.   

 

Edited July 21 by slocalifglfr