Annual salary of DG professional

[dbaledge]

People that make 500k don't travel in a camper, they fly. Unless they are unrelentingly white trash.

There are lots of bands that make well into the millions that travel buy bus... its not practical to go to a different city 6 hours down the road every two days by plane. does he drive from California to North Carolina? i highly doubt it, but from Texas to Louisana to Alabama to sc for mcbeast challenges and clinics... sure.

 

[dashiellx]

The comment by McBeth about 100k in taxes, he said one of the reasons was "not spending much money". What the hell does spending money have to do with taxes? Maybe this was just him being the not too bright person he is, but that just doesn't make sense.

Perhaps he didn't pre-pay and got hit with a really large tax bill. So he wasn't spending to pay off his taxes. I wonder if winnings from tournaments are taxed at a higher rate?

People that make 500k don't travel in a camper, they fly. Unless they are unrelentingly white trash.

Or just like it. There was a guy who lived in a trailer park in Baltimore who when he died about 10-15 years ago left $10 million to his high school.

 

[SonicGuy]

There are lots of bands that make well into the millions that travel buy bus... its not practical to go to a different city 6 hours down the road every two days by plane. does he drive from California to North Carolina? i highly doubt it, but from Texas to Louisana to Alabama to sc for mcbeast challenges and clinics... sure.

Ludicrous comparison. Bands travel by bus because they have entire road crews and tons of expensive equipment to shuttle around.

Oh and do you think the rock stars go in the bus with the crew? Get outta here with this crap.

 

[SonicGuy]

Perhaps he didn't pre-pay and got hit with a really large tax bill. So he wasn't spending to pay off his taxes. I wonder if winnings from tournaments are taxed at a higher rate?


Or just like it. There was a guy who lived in a trailer park in Baltimore who when he died about 10-15 years ago left $10 million to his high school.

The net taxes would be the same whether Paul was paying along the way or not. Unless you mean he got hit by a penalty. Tournament winnings would not be taxed differently; I have to assume he has an LLC set up to capture his expenses appropriately and he should be accepting his winnings via that route.

That guy from Baltimore qualifies as "unrelentingly white trash".

 

[BuiltTooLong]

People that make 500k don't travel in a camper, they fly. Unless they are unrelentingly white trash.

Sooo because he chooses to drive around with his multiple new vehicles and his humongous camper/trailer to carry around the thousands of discs he's about sell w/McBeast challenges, means he's not making that kind of $?

The Beast flies when he wants to fly. Like the multiple flights he has taken the past weeks traveling throughout Europe.

 

[SonicGuy]

Sooo because he chooses to drive around with his multiple new vehicles and his humongous camper/trailer to carry around the thousands of discs he's about sell w/McBeast challenges, means he's not making that kind of $?

The Beast flies when he wants to fly. Like the multiple flights he has taken the past weeks traveling throughout Europe.

I didn't say he automatically didn't make that kind of money. He could also be white trash.

I bet there is a forum lacking a Connor MacGregor nuthugger right now. Back to Reddit with you.

 

[dbaledge]

You don't know what you are talking about, They travel by bus because going from San Diego to LA... etc would take longer by plane... and 100% "rock stars" ride the bus. They don't load a stadium show on a tour bus , I know when I worked A Kenny Chesney show he had 5 Semis, and 4 tour buses. I have worked and attended well over 100 shows, if they are travelling under 10 hours and are playing back to back nights you bet they are sleeping on that bus going down the road. Now I doubt the mega tours that are Profiting 300 million in 8 months are roughing it. Innova isn't going to pay for Paul Mcbeth to fly from Gulf shores Alabama to South Carolina.

 

[BuiltTooLong]

The comment by McBeth about 100k in taxes, he said one of the reasons was "not spending much money". What the hell does spending money have to do with taxes? Maybe this was just him being the not too bright person he is, but that just doesn't make sense.

Since McBeth receives several 1099s at the end of the year instead of a W-2, he is not having taxes taken out of that income and is being treated like an independent contractor. Therefore, his entertainment and travel expenses can be treated as expenses. The more $ he spends, the less his taxes are. I would not be surprised to see him buy a new truck or another vehicle that weighs greater than 6,000 lbs almost every year to take advantage of the "hummer tax loophole". He can than claim section 179 depreciation on the vehicle which will cut his taxable income down considerably.

 

[SonicGuy]

Since McBeth receives several 1099s at the end of the year instead of a W-2, he is not having taxes taken out of that income and is being treated like an independent contractor. Therefore, his entertainment and travel expenses can be treated as expenses. The more $ he spends, the less his taxes are. I would not be surprised to see him buy a new truck or another vehicle that weighs greater than 6,000 lbs almost every year to take advantage of the "hummer tax loophole". He can than claim section 179 depreciation on the vehicle which will cut his taxable income down considerably.

So you are saying he is dumb? Like too dumb to appropriately manage his business expenses to avoid tax liability?

 

[DavidSauls]

The driving vs. flying distinction is meaningless. I've known plenty of people who had a lot of money, and were frugal. Some of whom had a lot of money because they were frugal. Perhaps he's wise enough to realize his earnings may not stay at the current level for the rest of his life.

Spending money just to lower taxes is foolish. It only helps in cases where there is a business benefit to spending that money, or a huge tax benefit far beyond just writing it off as an expense.

 

[pauldst]

Since McBeth receives several 1099s at the end of the year instead of a W-2, he is not having taxes taken out of that income and is being treated like an independent contractor. Therefore, his entertainment and travel expenses can be treated as expenses. The more $ he spends, the less his taxes are. I would not be surprised to see him buy a new truck or another vehicle that weighs greater than 6,000 lbs almost every year to take advantage of the "hummer tax loophole". He can than claim section 179 depreciation on the vehicle which will cut his taxable income down considerably.

The driving vs. flying distinction is meaningless. I've known plenty of people who had a lot of money, and were frugal. Some of whom had a lot of money because they were frugal. Perhaps he's wise enough to realize his earnings may not stay at the current level for the rest of his life.

Spending money just to lower taxes is foolish. It only helps in cases where there is a business benefit to spending that money, or a huge tax benefit far beyond just writing it off as an expense.

These^^^

 

[dashiellx]

The net taxes would be the same whether Paul was paying along the way or not. Unless you mean he got hit by a penalty. Tournament winnings would not be taxed differently; I have to assume he has an LLC set up to capture his expenses appropriately and he should be accepting his winnings via that route.

All of this assumes that he had a full understanding of how the tax system worked. He may no have saved enough to cover his taxes when they came due. That's not stupid, just being inexperienced.

 

[Fly_High]

Dgtaxplanreview.com

 

[NegaSnapples]

I've seen in other posts that Sonic Guy has described himself as a "lawyer". Yet, he doesn't even seem to have a basic understanding of being able to write off expenses...

 

[Lazerface]

I like this thread

 

[SonicGuy]

I've seen in other posts that Sonic Guy has described himself as a "lawyer". Yet, he doesn't even seem to have a basic understanding of being able to write off expenses...

Yes, I already said he should be going through an LLC to most effectively capture expenses, I have no idea about this stuff...

Back to Reddit a$$hat

 

[ryanwilli7]

Interesting to read this thread. I don't particularly care how much these guys make, but I'd be willing to bet McBeth does fairly well. He is the biggest name in the sport (even if he doesn't carry the title World Champ right now). He wins or places highly in about every tournament he's in, he works for the biggest company in disc golf and has been extremely loyal to them. I'm sure Dave D returns the favor in some monetary way. He has his name on a number of discs (including the most popular distance driver), and as some have already mentioned, his challenge he hosts with Sexton probably brings in a nice chunk of change. I imagine he travels in the camper partly for the challenge and the discs to go with it, and probably because it feels more consistent to sleep in familiar, home like place instead of different hotel rooms. Its a pretty nice camper. I wonder who you all think is the next biggest name in disc golf. Wysocki is good, probably the best player, but I don't see him as a name like Lizotte or McMahon. Heck, Climo still may be a bigger name.

 

[NegaSnapples]

Yes, I already said he should be going through an LLC to most effectively capture expenses, I have no idea about this stuff...

Back to Reddit a$$hat

"The comment by McBeth about 100k in taxes, he said one of the reasons was "not spending much money". What the hell does spending money have to do with taxes? Maybe this was just him being the not too bright person he is, but that just doesn't make sense."

"What the hell does spending money have to do with taxes?"

That alone shows just how ignorant you are when it comes to an individual being able to write off expenses on their 1099.

I would just expect a "lawyer" to know better. Silly me.

 

[dbaledge]

Interesting to read this thread. I don't particularly care how much these guys make, but I'd be willing to bet McBeth does fairly well. He is the biggest name in the sport (even if he doesn't carry the title World Champ right now). He wins or places highly in about every tournament he's in, he works for the biggest company in disc golf and has been extremely loyal to them. I'm sure Dave D returns the favor in some monetary way. He has his name on a number of discs (including the most popular distance driver), and as some have already mentioned, his challenge he hosts with Sexton probably brings in a nice chunk of change. I imagine he travels in the camper partly for the challenge and the discs to go with it, and probably because it feels more consistent to sleep in familiar, home like place instead of different hotel rooms. Its a pretty nice camper. I wonder who you all think is the next biggest name in disc golf. Wysocki is good, probably the best player, but I don't see him as a name like Lizotte or McMahon. Heck, Climo still may be a bigger name.

(The last sentence is what i am talking about) I think its a lot of self promotion and marketing, paul is a huge name in disc golf but naturally shy, Nate is better at marketing and self promotion so them teaming up is great for both. Eagle and Simon are both really out going and so people want to be around them. Ricky while having tremendous ability is bad at promoting himself. He is either too shy or just really behind the curve, until he gets a Nate, eagle, or simon type person he will be behind all of the other top pros in the interest category. My .02 from my marketing/ e commerce mind.

 

[dehaas]

You'd think dominating the last 2 Worlds would earn Ricky a little leverage to land a similar deal to McBeth's with Adidas, but I don't think it's in the cards.

If you compare professional achievements in 20 years Ricky might have the edge, but no way he out earns Paul.

(The last sentence is what i am talking about) I think its a lot of self promotion and marketing, paul is a huge name in disc golf but naturally shy, Nate is better at marketing and self promotion so them teaming up is great for both. Eagle and Simon are both really out going and so people want to be around them. Ricky while having tremendous ability is bad at promoting himself. He is either too shy or just really behind the curve, until he gets a Nate, eagle, or simon type person he will be behind all of the other top pros in the interest category. My .02 from my marketing/ e commerce mind.