Most Olympians earn nothing for Olympic competition. Many countries' Olympic teams, including the United States', provide travel expenses to. U.S. athletes don't make nearly as much as those in other parts of the world. Unless you're in the upper stratosphere of Olympic athlete - think Athletes in Pyeongchang didn't get into their sport for financial gain.
American Olympic athletes who take home medals from the PyeongChang Olympics will together with get thousands in prize money from the U. Thanks to a renewed law passed after the games in Rio, the medalists no longer have in the offing to hand exceeding a big chunk of that spondulicks to Uncle Sam. In addition to the Olympics medals themselves, U. That money, paid next to the U.
Olympic Committee, is meant to reward them for the years of hard jog and the fortunes many have already spent pursuing a dream. Those bonuses are nothing experimental, although the amount has increased in recent years. But they used to come with a big catch: As far as the federal government was concerned, those prizes were income, so past winners were expected to fork over a part to the IRS.
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Competing is an honor — and a financial burden. Here's how athletes make ends meet.
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- Many countries reward medalists with bonus money. U.S. Olympians, for example, will...
- Most Olympians earn nothing for Olympic competition. Many countries' Olympic teams, including the United States', provide travel...
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Mariama Jamanka and Lisa Buckwitz of Germany celebrate in the finish area during the women's bobsled Feb. China's Wu Dajing celebrates after winning gold in the short track speedskating men's Feb. Found the story interesting? Gold medal winner Sofia Goggia, of Italy, reacts after the flower ceremony for the women's downhill on Feb.
Us olympians win money one small problem though:
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