Contact Us

U.S. Medals Equal Cash For Athletes (And Taxes Due Of Course)

Getty Images

Winning an olympic medal as an U.S Olympic athlete means cash in your pocket. The U.S. Olympic Committee pays athletes $25,000 per gold, $15,000 per silver, and $10,000 per bronze. Of course, part of being an American means giving a healthy chunk of that back to the IRS. As much as $10,000 of the gold medal award could need to be paid back it taxes.

The medal-money is considered earned income abroad and subject to IRS taxation. Athlete’s that fall into higher tax brackets could face that $10,000 tax amount on a gold. At a minimum, athletes in the lowest tax bracket would need to hand $2,500 back to Uncle Sam.

USA, USA, USA! Congratulations! Pay up.

More from 103.7 The Loon

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://1037theloon.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on 103.7 THE LOON quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here.

Sign up for an account to comment, share your thoughts, and earn points to get great prizes.

Register on 103.7 THE LOON quickly by logging in with your Facebook account. It's just as secure, and no password to remember!