5 Amazing Events That Trigger A Tax Bill like Winning an Olympic Medal

How Winning an Olympic Medal Tiggers a Tax Bill

There are some crazy things that Uncle Sam wants to collect taxes on from you. Did you know that Michael Phelps and the rest of the US Olympians who earned a medal in the Olympics will owe the United States government taxes on their prize money under current law? Having a tax bill on these events just blows my mind. There are some other events and windfalls that can trigger a tax bill if you’re not careful. Here are five of the most random things that generate taxable income and a subsequent tax liability for you when it comes time to file your income taxes. 5 Great Win Falls That Trigger A Tax Bill Winning an Olympic Medal When you win … Read more