Of course, none of this includes state income taxes. Someone like her could be all the way up in the 39.6% bracket, depending on how big the deals were, and in that case, a gold medal could generate a $9,900 tax bill.īut if an athlete has a regular job - and many do - he or she may only be in the 25% tax bracket, for example, and that could mean $6,250 in taxes for bringing home gold. Someone like gymnast Aly Raisman, for example, who won gold in London in 2012 and again this year in Rio, reportedly has signed endorsement deals over the years with Poland Spring, Ralph Lauren, Pandora Jewelry and Reebok. Thanks to big-time endorsement deals, some athletes are in really high tax brackets. Olympic Athletes Discuss Financial Challenges
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