I emailed our office today. They referred me to the St. Louis office. I was basically told that I signed a piece of paper that said anything above $599.00 is taxable. (That includes gifts and cash) I asked her to break down the $1,150 for me so I can understand it more.
$600 cash ** I had to pay my airfare,hotel with that money...so I basically broke even on that
$100 for Jacket ** ridiculous.. I could care less about the damn jacket
$350 for Outlaw Cue ** again ridiculous... I gave it away
** I asked her if I could have chosen not to accept the cue and jacket. She laughed and said "no one has ever declined the cue or jacket" My response was " I bet you... no one knew they were gonna be taxed on it" I assumed that I earned the cue for finishing 9th nationally in my bracket.
I play league (3) nights a week. I spend roughly $1,300-$1,500 a year in league dues,etc. I've always been told that our money went to trips,gifts,plaques,etc. I'm not trying to get out of paying my taxes. I fell like I'm being forced to pay for something that I didn't want.
They only report after $599 and they set the payouts for the brackets at $600. Go figure!!
