Tag Archives: player

Why Golf is Such a Superb Sport

The following is not intended to offend fans of tennis, basketball, football, baseball , or hockey. It is, rather, an attempt to put everything in its proper perspective. Ever wonder why golf is growing in popularity and why people who don’t even play go to tournaments or watch it on TV? The following truisms may […]

Perfect Attendance

On June 2, 1925, New York Yankees manager Miller Huggins replaced first baseman Wally Pipp with young Lou Gehrig, the pride of Columbia University. Gehrig would go on to play in every Yankee game, every season through April 30, 1939. His record of 2130 consecutive games, played through illness, injury, and even bone fractures, would […]

Team Sponsorship

Today TaxMama hears from Stacy in California with this situation. “My husband runs a travel softball team and we allowed the players to get sponsors. The rule was that the first 25% of the sponsorship went to the team; and the other amount went to their individual accounts. We have a player who did this, […]

Casual Gambler Can Net Wins Against Losses on a Per Visit Basis

by David & Mary Mellem, EAs We all know gambling winnings are Other Income, while gambling losses are deductible on Schedule A but only up to the amount of winnings. Some tax professionals have interpreted the regulations to require each individual bet to stand on its own. Now IRS has addressed this issue a little […]