Paul McBeth on Track for Record $$ Won

[Magicweed]

With the sheer quantity of travel expenses you could deduct (provided you don't have a sponsor reimbursing you for some of that) you would think a pro's tax burden would be pretty minimal. Esp since we're not talking about a ton of $$$ in winnings. How exactly taxes work with royalties and all that, I have NO idea.

I think McCabe actually mentioned on the DGAM podcast that he filed state tax in something like 12 or 15 states since it was considered professional income. It wold be interesting to see if you could brand yourself and create an LLC in a state where all income could be funneled.

 

[DG_Before_Breakfast]

I looked into it for fun last tax year after cashing for the first time. I think it falls under a Hobbie you intend on making money with. I have heard some players file a w-2 somewhere but that was all rumor as far as I know. If you are actually making money though it should get reported. But you can subtract a portion of your expenses as well, which would include travel costs.

It would be really interesting for a Top Pro, like Paul, to give the real lowdown on how much he makes net. After all the endorsements, travel expenses, tax, etc.

Of course, it is their business and none of ours, but if they were willing, I think it would be really interesting and shine a light on what these guys really have to do to make a living playing DG. It might be kind of depressing though

 

[filobedo]

With all the money American disc golfers are making the sport would really grow around the world if they became tax scofflaws due to FATCA, denounce their US citizenship and move to Europe.

 

[coupe]

not to sidetrack this thread but how do frolfers get taxed? I assume a 1040EZ or something along those lines. Getting paid thru Innova for disc sales, i am sure they file a w-2 and maybe they do as well on the tour but just a regular A-tier they would have to claim right?

Uncle sam and his auditors can be a prickly bunch.

https://discussion.pdga.com/discussion/archive/index.php/t-16732.html

 

[filobedo]

With all the money American disc golfers are making the sport would really grow around the world if they became tax scofflaws due to FATCA, denounce their US citizenship and move to Europe.

This statement was made to polarize how ludicrous this thread is and no responses? No matter how much anyone you know makes, you cannot put a price tag on education and college diploma and work experience. What would pro dgers do if the had a career ending injury in their mid thirties without a degree and work experience?

 

[rupet]

It's not hard to get a job making 30k a year.

 

[Mornius]

This statement was made to polarize how ludicrous this thread is and no responses? No matter how much anyone you know makes, you cannot put a price tag on education and college diploma and work experience. What would pro dgers do if the had a career ending injury in their mid thirties without a degree and work experience?

Stay in the sport and work for one of the companies or the PDGA. Their knowledge about disc golf is tremendous so the pro players make good coaches, know which kind of discs are needed at the moment, know how a good course should look like and so on.

 

[shakatak]

Originally Posted by filobedo View Post
With all the money American disc golfers are making the sport would really grow around the world if they became tax scofflaws due to FATCA, denounce their US citizenship and move to Europe.

This statement was made to polarize how ludicrous this thread is and no responses? No matter how much anyone you know makes, you cannot put a price tag on education and college diploma and work experience. What would pro dgers do if the had a career ending injury in their mid thirties without a degree and work experience?

What exactly is ludicrous about this thread and how do you "polarize" how ludicrous something is? You probably didn't get any responses to your HOT TAKE because most people here have no clue what FATCA is, myself included.

 

[DanJon]

It's not hard to get a job making 30k a year.

Before taxes, you need to make around $18-20 per hour.

Those jobs just growing on trees?

 

[shakatak]

Before taxes, you need to make around $18-20 per hour.

Those jobs just growing on trees?

I was kind of confused with the wording (you might be saying what I'm pointing out) but here's the math on it.

To NET $30,000/yr you need $18-$20 but to GROSS 30k you only need to make a shade under $15/hour. ($15 X 40 = $600/wk X 52wks= $31,200)

That's still not super simple though.

 

[Old Dog]

This thread really points out why you don't see professional Disc Golfers riding around in stretch limos full of groupies.

 

[DougCrawford]

This statement was made to polarize how ludicrous this thread is and no responses? No matter how much anyone you know makes, you cannot put a price tag on education and college diploma and work experience. What would pro dgers do if the had a career ending injury in their mid thirties without a degree and work experience?

The same thing lots of teachers do. It's a "career ending injury" when you get payed s@$t for tons of work and zero other recognition. I got my degree in education and never broke 30k a year in the three years I was a full time teacher. I'm back to what Climo did before disc- construction.

 

[DesertFox]

2014 = McB3AST
2015 = McBE4ST
2016 = McBEA5T
2017 = Mc6EAST
2018 = McBEAS7
2019 = Mc8EAST
2068 = McBEA57

:clap::clap::clap:

That makes too much sense to not be true

 

[DanJon]

The same thing lots of teachers do. It's a "career ending injury" when you get payed s@$t for tons of worka and zero other recognition. I got my degree in education and never broke 30k a year in the three years I was a full time teacher. I'm back to what Climo did before disc- construction.

Depending on the state you're looking at 10-15 years to make good money teaching.

 

[Ender175]

Depending on the state you're looking at 10-15 years to make OK money teaching.

FTFY

 

[Stover]

This statement was made to polarize how ludicrous this thread is and no responses? No matter how much anyone you know makes, you cannot put a price tag on education and college diploma and work experience. What would pro dgers do if the had a career ending injury in their mid thirties without a degree and work experience?

You can always go back to school.. You can't always decide to go back and play a sport at the pro level if you pass up your chance.

 

[#19325]

McBeth with another win at Hambrick. Cha-Ching!! $$$

I need to get another total going. He's got to be nearing that record. Not much time to get dialed in for Ledgestone. I look for Nikko & McCray to have great showings there. McRay has spent 2 weeks in Peoria while those guys were in Pittsburgh. Nikko always plays where there. This week should be awesome.

 

[Meulen]

McBeth with another win at Hambrick. Cha-Ching!! $$$

I need to get another total going. He's got to be nearing that record. Not much time to get dialed in for Ledgestone. I look for Nikko & McCray to have great showings there. McRay has spent 2 weeks in Peoria while those guys were in Pittsburgh. Nikko always plays where there. This week should be awesome.

Correct me if I'm wrong, but I believe he has already surpassed that record? PDGA website has him at $35924. Have to add $7000 for SO, $4480 for EO, $6000 for Worlds. That puts him at $53404 excluding Maple Hill skins payout and his win at the Brent Hambrick Memorial Open.

 

[#19325]

You are correct Meulen. He has surpassed the record.

Paul McBeth
$35, 942-Currently listed on PDGA
+ $7,500 Scandinavian Open
+ $4,480 European Open
+ $6,000 PDGA Worlds
$53,922

__________
+Hambrick
+Ledgestone
+USDGC

***Looks like they added the skins he won at the Vibram***

Nikkos Record 2010
$46,757
37 Events--14 Wins

 

[Mocheez]

A USDGC victory would push McBeth past $70,000 for the year.