answersLogoWhite

0


Best Answer

yes, on every medal they win they have to pay taxes on it.

User Avatar

Wiki User

โˆ™ 2013-02-13 00:11:00
This answer is:
User Avatar
Study guides

Olympics

20 cards

What does the word Olympic mean

What country first proposed the winter olympic games as separate from the traditional olympic games

How did the athletes prepare for the ancient olympic games

What other events were included in the ancient olympic games after the first ancient olympic games

โžก๏ธ
See all cards
4.25
โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…
8 Reviews

Add your answer:

Earn +20 pts
Q: Do olympic athletes have to pay taxes on their medals?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Continue Learning about Sports

What prizes do olympic winners receive?

The Olympic Committee awards its athletes, $25,000 for gold, $15,000 for silver and $10,000 for bronze. The athletes still have to pay taxes on whatever money they win.


How much money does the US give to the gold medals winners from the United States?

The US does not pay athletes for winning medals.


Do the athletes have to pay their own way to the Olympics?

Olympic athletes don't exactly pay their own way. They get some funding from the U.S. Olympic Committee and from commercial sponsors. They also sign up for commercials. Whatever is left, they have to pay for themselves.


Does the United States pay their Olympic athletes?

The United States government does not pay their Olympic athletes. However, it is possible that an athlete will have a contract with a business, such as a shoe manufacturer or a swimsuit manufacturer, and that contract may have wording in it that says the athlete will be paid an amount for winning an Olympic event. The USOC - United States Olympic Committee - which is a private entity separate from the US Gov't - pays athletes for medals - $25,000 for gold, $15,000 for silver and $10,000 for bronze. Some athletes are invited to train at the US Olympic training facility run by the USOC and all expenses are paid, but the athlete must adhere to a strict training schedule and rules of the facility.


How much does the US pay it's athletes for gold medals?

They are not paid. This would mean they are professional athletes and to play they can't be paid. The athletes get endorsements from companies after they win.

People also asked