2010 Tour

Tournaments in the rest of the non Iowa world

Postby Mad Max » Sat Feb 13, 2010 3:34 pm

You are so gosh darn positive Chase! We r all going to die, it is more important to know where u are after that. My plan is heaven!

Anybody have a list or an Idea of the tournaments within and hour or so from the quad-cities? I'm not sponsored either....
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Postby fsaddle » Sun Feb 14, 2010 10:31 am

Chase20460 wrote:

Then again, with global warming they are predicting


Yeah, after the last 18 months here in the midwest that global warming thing has got me worried too.
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Postby Like_Water » Sun Feb 14, 2010 1:21 pm

fsaddle wrote:
Chase20460 wrote:

Then again, with global warming they are predicting


Yeah, after the last 18 months here in the midwest that global warming thing has got me worried too.


Why worry when you can panic?
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Re: 2010 Tour

Postby AO » Mon Apr 26, 2010 11:46 pm

Revised....

AO wrote:Apr 3-Ia State Team Championships NS
Apr 9-10 Walk Plank and Spring Fling both B
Apr 17-18 Emporia Glass Blown Open A
Apr 24-25 Graceland and J. B. Dubs both C
May 1-2 St. Louis Open A
May 8 Iron Lion Safari B
May 15-16 Legion of Doom C
May 22-23 Crown Pointe, IN A
May 29-30 Des Moines Challenge A
Jun 5-6 River Cities Rumble A
Jun 19-20 Greater Peoria Open A
Jun 25-27 MN Majestic NT
July 10-11 OFF-No DG/On Call
July 17-18 Ia State Championships , Iowa City C
July 24 QC or Joliet B
Aug 7-8 Mad City Open A
Aug 14-15 Cedar Creek B or Vibram NT or Summer Sweat B Indiana St Championships B?
Aug 21-22 Cranbury Classic A?
Aug 27-29 St. Joseph Open A or Skylands at Warwick NT?
Sept 4-5 Lac du Flambuea, WI A
Sept 11 K9 Carnival B
Sept 12 Sparta, WI B
Sept 18-19 Hub City Open NS
Sep 24 Wildcat Springs
Oct 1-3 US Dubs? A
Oct 6-9 USDGC M


Thinking I'm going to back out of Worlds. The courses I've played are Homie, don't want to spend over a week in the area, weak payouts, and gonna spend a decent amount of money.

Going to try and talking Lindsey into going to Vibram(if I can get in) and Cranbury or Cranbury and Skylands.
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Postby Like_Water » Tue Apr 27, 2010 7:13 am

Worlds is never a profitable venture...unless it's in your backyard.
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Postby AO » Tue Apr 27, 2010 7:45 am

I'm not really looking to make profit.....but breaking even for playing well would be nice. Last year I averaged 1030 golf and did't break even.
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Postby The Donator » Tue Apr 27, 2010 11:13 am

AO wrote:I'm not really looking to make profit.....but breaking even for playing well would be nice. Last year I averaged 1030 golf and did't break even.

Are you serious?
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Postby z-man » Tue Apr 27, 2010 11:42 am

The Donator wrote:
AO wrote:I'm not really looking to make profit.....but breaking even for playing well would be nice. Last year I averaged 1030 golf and did't break even.

Are you serious?

Actually...AO only averaged 1029.57...he was rounding
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Postby AO » Tue Apr 27, 2010 11:44 am

The Donator wrote:
AO wrote:I'm not really looking to make profit.....but breaking even for playing well would be nice. Last year I averaged 1030 golf and did't break even.

Are you serious?


Took home $500 for having one of my best overall tournies of the year.
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Postby GDL17921 » Tue Apr 27, 2010 11:49 am

AO wrote:I'm not really looking to make profit.....but breaking even for playing well would be nice. Last year I averaged 1030 golf and did't break even.


hopefully you have a CPA that prepares your tax return such that you don't owe any taxes on your winnings then. You can deduct hobby expenses up to but not exceeding income (winnings and sponsorship).

There's my free tax advice for today.
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Postby AO » Tue Apr 27, 2010 11:52 am

GDL5000 wrote:
AO wrote:I'm not really looking to make profit.....but breaking even for playing well would be nice. Last year I averaged 1030 golf and did't break even.


hopefully you have a CPA that prepares your tax return such that you don't owe any taxes on your winnings then. You can deduct hobby expenses up to but not exceeding income (winnings and sponsorship).

There's my free tax advice for today.


Can't I only do that for 2 years though?
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Postby RonRazz » Tue Apr 27, 2010 12:32 pm

GDL5000 wrote:Hopefully you have a CPA that prepares your tax return such that you don't owe any taxes on your winnings then. You can deduct hobby expenses up to but not exceeding income (winnings and sponsorship).

There's my free tax advice for today.


Thats provided you fill out a 1099 and claim that income in the first place.

Also wouldnt a simple search for IRC 183 on the IRS website address all the things need to be done, instead of hiring a CPA. 1040 long form with a Schedule A?

Also shouldnt you be concerned with IRC 183(d) presumption that an activity is engaged in for profit if the activity is profitable for 3 years of a consecutive 5 year period?
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Postby Like_Water » Tue Apr 27, 2010 12:52 pm

I have 3 years of filing my DG income on record. It's pretty simple. Of the $4500 on record with the PDGA, I paid about $70 in tax. The only time I've paid tax on DG winnings.
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Postby GDL17921 » Tue Apr 27, 2010 1:21 pm

RonRazz wrote:
GDL5000 wrote:Hopefully you have a CPA that prepares your tax return such that you don't owe any taxes on your winnings then. You can deduct hobby expenses up to but not exceeding income (winnings and sponsorship).

There's my free tax advice for today.


Thats provided you fill out a 1099 and claim that income in the first place.

Also wouldnt a simple search for IRC 183 on the IRS website address all the things need to be done, instead of hiring a CPA. 1040 long form with a Schedule A?

Also shouldnt you be concerned with IRC 183(d) presumption that an activity is engaged in for profit if the activity is profitable for 3 years of a consecutive 5 year period?


1. 1099's get sent to you by the payor, and also get sent to the IRS. They (IRS) match up any income submitted to them with what you report on your 1040. So you can elect to not claim the income, but most likely you will get a rejection notice if you file electronically, or flagged for an audit.

2.is your hobby a for profit endeavor?535 (business expenses)

Ron, I think what you're bringing up has to do with taking a loss. To take a loss, you would have to show profitability....I don't think that you have to show that you're profitable in order to deduct expenses, you're just subject to the loss limitation rule...This is so people don't start up "businesses" all in the name of evading tax by claiming losses. You can deduct certain expenses up to but not exceeding your gross receipts, and it can be done on Schedule A if you're itemizing.

It's been 5 years since I've done any public accounting, so my knowledge is a little rusty as tax laws change all the time so I may be way off on this. Ron is correct though, all the info you need is available online at irs.gov
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Re: 2010 Tour

Postby AO » Tue Aug 03, 2010 8:54 pm

AO wrote:Revised....

AO wrote:Apr 3-Ia State Team Championships NS
Apr 9-10 Walk Plank and Spring Fling both B
Apr 17-18 Emporia Glass Blown Open A
Apr 24-25 Graceland and J. B. Dubs both C
May 1-2 St. Louis Open A
May 8 Iron Lion Safari B
May 15-16 Legion of Doom C
May 22-23 Crown Pointe, IN A
May 29-30 Des Moines Challenge A
Jun 5-6 River Cities Rumble A
Jun 19-20 Greater Peoria Open A
Jun 25-27 MN Majestic NT
July 10-11 OFF-No DG/On Call
July 17-18 Ia State Championships , Iowa City C
July 24 Joliet B
Aug 7-8 Mad City Open A
Aug 14-15 Cedar Creek B
Aug 21-22 Monroy Gowens Memorial
Aug 27-29 St. Joseph Open A
Sept 4-5 on call
Sept 11 Waterloo Open C
Sept 12 Sparta, WI B
Sept 18-19 Hub City Open NS
Sep 24 Wildcat Springs
Sept 25 23rd Channahon Classic
Oct 1-3 US Dubs? A
Oct 6-9 USDGC M

Oct 16 K9 Carnival B
Oct 23 2nd Wildcat Bluff Open C
Nov 6-7 20th Vets Park Open, Arlington, TX? A
Nov 19-20 Players Cup Match Play, Ocala, FL? A
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