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Event Value vs Actual Cash Earned

Posted by Trackin01 
Event Value vs Actual Cash Earned
November 21, 2011 01:12PM
This topic might have been touched on long before I came along, but I need to know.

I just finished hosting my NPC Last Chance Qualifier PDGA B-Tier and had good conversations with some touring pro's and the PDGA office about results.
#1 Do we post the amateur value?
#2 Do we add side items: ace pot, players packs, ctp's, etc . . . ??

The same answer came up from both the touring pro's and PDGA office. Cash only from the professional divisions are recommended for results. Why? Because in the end, these players are to claim their winnings to the IRS.
Then I was told that Ken Climo was recently hit with a big one! The IRS Came after him for back taxes. All they have to do is look on the PDGA website and see what is posted as earned money under his name.
That is why its recommended to add just the cash won in Pro's only, cause the Amateurs only win Merchandise.

I wonder if it will ever hit SN Money leaders? We add everything and anything that has value to our results, which of course boost the event value $$$ on paper. It does show a huge value, but not cash only.

I am and probably never will be in this boat of earning $10,000+ a year and would least likely be on the radar, but is posting everything merchandise value and cash value a good thing to the player in terms of taxes?

Just a thought question.
Re: Event Value vs Actual Cash Earned
November 21, 2011 03:52PM
I think for the vast majority of players this isn't an issue. They want everything added as does the td or club usually to reflect what the event did pay out. Even last season there were no pro players that made over $5000....

JOhn k
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