LPGA Tournament entry fees?

MarinePaul · 05-20-2009, 04:28 PM

Actually, Wiefan, you were more right in your answer than you realized. Had you given more details on the deductibility of expenses, You may have gotten one of the few A's I give. That, however, was awarded to Xman for his more complete answer.

Also, Blue asked a very good question, which shows that she was paying attention. That also rates a solid B.

As far as "No child left behind," that kind of goes along with not keeping score at sporting events because it will hurt the feelings of the kids who lose. It's a joke of a policy, but God knows we don't want anyone's feelings to be hurt.

wiefan · 05-20-2009, 04:59 PM

Originally Posted by MarinePaul

Actually, Wiefan, you were more right in your answer than you realized. Had you given more details on the deductibility of expenses, You may have gotten one of the few A's I give. That, however, was awarded to Xman for his more complete answer.

Also, Blue asked a very good question, which shows that she was paying attention. That also rates a solid B.

As far as "No child left behind," that kind of goes along with not keeping score at sporting events because it will hurt the feelings of the kids who lose. It's a joke of a policy, but God knows we don't want anyone's feelings to be hurt.

Hi ya Marinepaul...UNFAIR!!!!!!....I give an answer and I get a "B-" and Blue just gives a QUESTION and she gets a higher grade of "B"....now where is the fairness in that....I hope this isn't one of those male student/female student inequality issue....heck!! if I knew that asking questions was worth More than giving answers....I would have asked a ton of Questions....in fact....let me ask some now....here WIE go

Is Wiesy playing great golf or what??
Is the kid going to get another Top 15 or better finish???

shall I continue????....hmmmm...ok Professor Paul....are you grabbing an eraser and taking away that "Minus" sign next to my "B"

just kidding folks...I am just antsy waiting for Wiesy to tee it up tomorrow......have a good day everyone...see ya!!

Whistling Straight · 05-20-2009, 05:25 PM

Blue clearly is the teacher's pet. Nobody said life was fair.

wiefan · 05-20-2009, 05:54 PM

Originally Posted by Whistling Straight

Blue clearly is the teacher's pet. Nobody said life was fair.

Hi ya whistling straight...YEP!!!! you are correct.....Blue shaves her legs probably, I don't shave mine....the hairs on my legs just "pops" out of MY NYLONS....hmmmm.....yep....this is probably the reason

have a good day....see ya

Hotrod · 05-20-2009, 07:17 PM

I would think their sponsors would pay their players entry fee, just to flash the company's name or logo in front of thousands of people. Just by the players using sponsors hats, shirts, golf bags and balls are worth as much as a company paying for a TV commercial....just my opinion....

4putt · 05-20-2009, 08:28 PM

Looks like my whimsical remark of $5,000 entry fee is unpopular among LPGA's fans on this board. Well, don't just say it's stupid, post an idea of your own.

The LPGA is losing tournaments left and right in this economy. Many financial pundits project an "L" shaped recovery, which means this recession could last a lot longer than many hope - we could see many more tournaments go the way of Corning and many purses dwindle to fraction of what it is today. Also, Bivens proposed couple years back increasing the fees charged to the members of the Tournament Owners Association by $50,000 to $100,000 - this created a quite an uproar. So what is the LPGA to do?

I agree many journey-women on tour may not be able to pay $5,000 per event - which would total $125,000 for a 25 event season. But many CAN afford it - number 50 on the 2008 money list made $375,000; number 10 made $1.1 MILLION. And as you guys posted earlier, this is a deductable business expense.

So maybe they can tier it? Finish top 10 and pay a certain amount throughout the next season. Finish next 10, pay a lower amount...all the way down to free entry if you finished 100+ on the previous year's money list......

Anyone have a better idea?

4putt · 05-20-2009, 08:31 PM

Originally Posted by Hotrod

I would think their sponsors would pay their players entry fee, just to flash the company's name or logo in front of thousands of people. Just by the players using sponsors hats, shirts, golf bags and balls are worth as much as a company paying for a TV commercial....just my opinion....

That's a good point....i'd bet many sponsors do pick up the tab.

MarinePaul · 05-20-2009, 08:48 PM

Wiefan, it's not that Blue merely asked a question, but a question worthy of praise since she knew about the existence of an LLC. That proves she was paying attention. It's hard for you to convince me that you pay attention, since I always have to talk over your snoring.

In answer to your questions, yes she's playing well, and she may well have another top 15 finish this week.

If it makes you feel any better, DB only rated a C.

MarinePaul · 05-20-2009, 08:58 PM

4putt, if you take $125,000 in entry fees, number 50 on the money list is down to $250,000. From that, she has to pay her caddie, travel and meals, which further decreases her net income. For a maginal player, those costs can be overwhelming.

While the economy does have some impact on losing sponsors, there are other factors as well. The fact that the commissioner tried to strong arm some of the long time sponsors didn't help matters even before the economy went down the tubes. It's not as simple as just raising entry fees.

There's no quick fix. It has to start with the LPGA marketing its product better, and attracting both fans and sponsors. They need a whole lot more than "These girls rock" for that to happen.

dangerbob · 05-20-2009, 11:55 PM

Originally Posted by dangerbob
They can only deduct them if they make money. How about those who can not make the cut. It has to come out of their pocket! Just like gambling...you can only deduct your loses if you win. Otherwise, bye, bye...what happens in Vegas stays in Vegas!

Originally Posted by Wiefan

Hi ya Dangerbob....are you sure about this???....considering that these players list their occupation as Professional Golfers....you would think that some items that they pay out of pocket would make it eligible for them to get a deduction on their taxes

for example....somebody that works at home in a home business....let's just say they don't make any income for the year in their business but perhaps makes income from something else...they can still claim some stuff as losses in their Business downfall couldn't they....example, Telephone, Car, Gas, etc

Originally Posted by MarinePaul

DB, you're partially right. Business deductions are different than gambling losses, which are limited to the amount of winnings. Businesses can, and often do, show losses. In fact, in the case of a corporation, which many of these players are, those losses can be carried forward to offset against future profits.

MP...I believe you misunderstood what Wiefan was saying. If a professional golfer has a sideline busisness...say a Pizza Parlor Business. That's seperate from his/her golf profession, so he/she can not deduct his/her expenses from his golf tournment as a loss from his Pizza Business. That's a no-no! He/she can only deduct his/her tournament expenses or golf equipments expenses from his/her winnings from golf tournaments.

A professional golfer is actually a self-employed sub-contractor and he/she can only deduct his/her expenses/losses from his/her winnings in the same year and can not retroactive his/her loss the year before.

If you have any more question...I have a friend who is an IRS tax auditor and I'd happy to give him your phone number.

Man...I'm still in jury duty and it's a very serious crime, so it's taking a long time. They said another week before deliberation.

05-20-2009, 04:28 PM	#21
MarinePaul Moderator Join Date: Aug 2005 Location: Warren, Ohio Posts: 8,003	Actually, Wiefan, you were more right in your answer than you realized. Had you given more details on the deductibility of expenses, You may have gotten one of the few A's I give. That, however, was awarded to Xman for his more complete answer. Also, Blue asked a very good question, which shows that she was paying attention. That also rates a solid B. As far as "No child left behind," that kind of goes along with not keeping score at sporting events because it will hurt the feelings of the kids who lose. It's a joke of a policy, but God knows we don't want anyone's feelings to be hurt. __________________ Happiness isn't getting what you want, it's wanting what you have.

05-20-2009, 04:59 PM	#22
wiefan Senior Member Join Date: Jul 2005 Posts: 4,135	Originally Posted by MarinePaul Actually, Wiefan, you were more right in your answer than you realized. Had you given more details on the deductibility of expenses, You may have gotten one of the few A's I give. That, however, was awarded to Xman for his more complete answer. Also, Blue asked a very good question, which shows that she was paying attention. That also rates a solid B. As far as "No child left behind," that kind of goes along with not keeping score at sporting events because it will hurt the feelings of the kids who lose. It's a joke of a policy, but God knows we don't want anyone's feelings to be hurt. Hi ya Marinepaul...UNFAIR!!!!!!....I give an answer and I get a "B-" and Blue just gives a QUESTION and she gets a higher grade of "B"....now where is the fairness in that....I hope this isn't one of those male student/female student inequality issue....heck!! if I knew that asking questions was worth More than giving answers....I would have asked a ton of Questions....in fact....let me ask some now....here WIE go Is Wiesy playing great golf or what?? Is the kid going to get another Top 15 or better finish??? shall I continue????....hmmmm...ok Professor Paul....are you grabbing an eraser and taking away that "Minus" sign next to my "B" just kidding folks...I am just antsy waiting for Wiesy to tee it up tomorrow......have a good day everyone...see ya!!

05-20-2009, 05:54 PM	#24
wiefan Senior Member Join Date: Jul 2005 Posts: 4,135	Originally Posted by Whistling Straight Blue clearly is the teacher's pet. Nobody said life was fair. Hi ya whistling straight...YEP!!!! you are correct.....Blue shaves her legs probably, I don't shave mine....the hairs on my legs just "pops" out of MY NYLONS....hmmmm.....yep....this is probably the reason have a good day....see ya

05-20-2009, 08:28 PM	#26
4putt Senior Member Join Date: May 2006 Posts: 428	Well, if you don't like my idea post some of your own Looks like my whimsical remark of $5,000 entry fee is unpopular among LPGA's fans on this board. Well, don't just say it's stupid, post an idea of your own. The LPGA is losing tournaments left and right in this economy. Many financial pundits project an "L" shaped recovery, which means this recession could last a lot longer than many hope - we could see many more tournaments go the way of Corning and many purses dwindle to fraction of what it is today. Also, Bivens proposed couple years back increasing the fees charged to the members of the Tournament Owners Association by $50,000 to $100,000 - this created a quite an uproar. So what is the LPGA to do? I agree many journey-women on tour may not be able to pay $5,000 per event - which would total $125,000 for a 25 event season. But many CAN afford it - number 50 on the 2008 money list made $375,000; number 10 made $1.1 MILLION. And as you guys posted earlier, this is a deductable business expense. So maybe they can tier it? Finish top 10 and pay a certain amount throughout the next season. Finish next 10, pay a lower amount...all the way down to free entry if you finished 100+ on the previous year's money list...... Anyone have a better idea?

05-20-2009, 08:31 PM	#27
4putt Senior Member Join Date: May 2006 Posts: 428	Originally Posted by Hotrod I would think their sponsors would pay their players entry fee, just to flash the company's name or logo in front of thousands of people. Just by the players using sponsors hats, shirts, golf bags and balls are worth as much as a company paying for a TV commercial....just my opinion.... That's a good point....i'd bet many sponsors do pick up the tab.

05-20-2009, 05:25 PM	#23
Whistling Straight Senior Member Join Date: Feb 2009 Posts: 450	Blue clearly is the teacher's pet. Nobody said life was fair.

05-20-2009, 07:17 PM	#25
Hotrod Member Join Date: Mar 2007 Posts: 89	I would think their sponsors would pay their players entry fee, just to flash the company's name or logo in front of thousands of people. Just by the players using sponsors hats, shirts, golf bags and balls are worth as much as a company paying for a TV commercial....just my opinion....

05-20-2009, 08:48 PM	#28
MarinePaul Moderator Join Date: Aug 2005 Location: Warren, Ohio Posts: 8,003	Wiefan, it's not that Blue merely asked a question, but a question worthy of praise since she knew about the existence of an LLC. That proves she was paying attention. It's hard for you to convince me that you pay attention, since I always have to talk over your snoring. In answer to your questions, yes she's playing well, and she may well have another top 15 finish this week. If it makes you feel any better, DB only rated a C. __________________ Happiness isn't getting what you want, it's wanting what you have.

05-20-2009, 08:58 PM	#29
MarinePaul Moderator Join Date: Aug 2005 Location: Warren, Ohio Posts: 8,003	4putt, if you take $125,000 in entry fees, number 50 on the money list is down to $250,000. From that, she has to pay her caddie, travel and meals, which further decreases her net income. For a maginal player, those costs can be overwhelming. While the economy does have some impact on losing sponsors, there are other factors as well. The fact that the commissioner tried to strong arm some of the long time sponsors didn't help matters even before the economy went down the tubes. It's not as simple as just raising entry fees. There's no quick fix. It has to start with the LPGA marketing its product better, and attracting both fans and sponsors. They need a whole lot more than "These girls rock" for that to happen. __________________ Happiness isn't getting what you want, it's wanting what you have.

05-20-2009, 11:55 PM	#30
dangerbob Senior Member Join Date: Sep 2005 Posts: 4,872	Originally Posted by dangerbob They can only deduct them if they make money. How about those who can not make the cut. It has to come out of their pocket! Just like gambling...you can only deduct your loses if you win. Otherwise, bye, bye...what happens in Vegas stays in Vegas! Originally Posted by Wiefan Hi ya Dangerbob....are you sure about this???....considering that these players list their occupation as Professional Golfers....you would think that some items that they pay out of pocket would make it eligible for them to get a deduction on their taxes for example....somebody that works at home in a home business....let's just say they don't make any income for the year in their business but perhaps makes income from something else...they can still claim some stuff as losses in their Business downfall couldn't they....example, Telephone, Car, Gas, etc Originally Posted by MarinePaul DB, you're partially right. Business deductions are different than gambling losses, which are limited to the amount of winnings. Businesses can, and often do, show losses. In fact, in the case of a corporation, which many of these players are, those losses can be carried forward to offset against future profits. MP...I believe you misunderstood what Wiefan was saying. If a professional golfer has a sideline busisness...say a Pizza Parlor Business. That's seperate from his/her golf profession, so he/she can not deduct his/her expenses from his golf tournment as a loss from his Pizza Business. That's a no-no! He/she can only deduct his/her tournament expenses or golf equipments expenses from his/her winnings from golf tournaments. A professional golfer is actually a self-employed sub-contractor and he/she can only deduct his/her expenses/losses from his/her winnings in the same year and can not retroactive his/her loss the year before. If you have any more question...I have a friend who is an IRS tax auditor and I'd happy to give him your phone number. Man...I'm still in jury duty and it's a very serious crime, so it's taking a long time. They said another week before deliberation. __________________ "On this hapless EARTH There's small SINCERITY of mirth And LAUGHTER oft is but an ART To drown the outcry of the HEART!"

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