Re: Are prize money subject to tax?
Florida and Monte Carlo don't have income tax so I guess many players live there as well as Miami and MC tournaments are well placed and covered . But other parts of Europe have insane taxes to fund those socialist programs especially scandinavia, germany and france . Most American players are reluctant to play there
Whatever local tax a player has to pay on their winnings abroad they get a credit on their US federal income tax.
I forgot. As long as you are US citizen, it doesn't matter where you live though. Right? You still have the pay the federal tax or at least the difference if US tax is higher than where you live.
If you live the entire year outside the US and earn 100% of your income outside the US that year you are exempt from US federal tax for that year.
Titles: 2005 - PAW Washington 2006 - PTS Marseille, TT Miami Doubles(w/coreyschucky), TT Tokyo Singles 2007 - TT Hamburg Doubles(w/SarettaFan) 2008 - TT Indianapolis Singles Finalist: 2005 - PAW Montreal & Bucharest 2006 - TT Acapulco Singles & Doubles(w/Iza), TT Houston Doubles(w/robrulz5), PTS Monte Carlo, TT Barcelona Doubles(w/Peta Pan), TT Newport Doubles(w/adee-gee), PAW Umag 2007 - TT Queen's Singles & Doubles(w/SarettaFan), TT Champaign Doubles(w/TommyB.) 2008 - TT Auckland Doubles(w/invu2day), TT Recanati Singles, TT Newport Doubles(w/sploush), TT Indianapolis Doubles(w/sploush)
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