[wlu29]

I don't know if this thread is the right one to ask the question but here goes -

If you get taxed on your purse, sponsorships and other fighting related income, are you able to deduct all your training costs, gym memberships and equipment from the income?

Thanks in advance

[sbruckmair]

They wanted it to turn into a sport, and a sport it has become. Along with that comes all of the depressing things that go along with greed and power. I just like to watch a great fight. Guys like Travis Fulton and Jeremy Horn are true examples of fighters. They don't care about the money as much as they do just simply fighting. If they win they win. If they get paid they get paid. But as long as they get to fight.......they're happy.

[HdNet]

good read.

[fumanchu451]

*slow clap*

[Scott Ball]

I am a "pro," I have found having trainers and managers very helpful personally. If you have faith in your trainers, you will do what they tell you to nothing more nothing less, and they will have you where you need to be come fight time. Managers if they do the right job, will get you more money than you could yourself, and better fights. I have learned that if you manage yourself, and have no trainers, promotions will try to use you as a stepping stone more so than as a fighter. They only loose you if they piss you off, as a manger they loose all his other fighters, and the trainers fighters.

The most important thing in this question though is I think to realize that if you have a manager and trainer, which is new to me, all you have to focus on is yourself and getting ready. When you don't, your trying to negotiate your own purse, your own fights, and get yourself ready. Its way to much work, and way to much to handle at one time, being all this usually goes down in a 6-8 week period if its going great, and 2 weeks if its not.

King K is the man.

Originally Posted by ChachiKiller

Are you a pro? Do you find that the help your career? At what point should you look for a trainer/manager rather than just an instructor?

[WorldFour]

Cool, thanks, gotta read this over again....

[right hand lead]

excellent post KK. wish i saw a bit sooner lol


this is helpfull since i am now training and managing 3 MMA fighters. one who is already a pro.

[pankraxeu]

"It depends who he wants me to fight. If he wants me to fight an undefeated guy, he better give me undefeated money."

respek!

[Skybound]

Originally Posted by wlu29

I don't know if this thread is the right one to ask the question but here goes -

If you get taxed on your purse, sponsorships and other fighting related income, are you able to deduct all your training costs, gym memberships and equipment from the income?

Thanks in advance

You can deduct costs up to the equivalent to your (fight related) earnings.
So if you make 2,000 from a year of fights, you can deduct 2,000 from a yr of training, gear, etc.

[Hans Burnett]

great post, this is the exact problem i had, no management team and lost my trainers w the move to Arizona, i took the plunge to go pro after a successful amature carer but without a manager ect it was quite overwhelming to do all the negotiations ect on my own, long story short i got used as a stepping stone and was fed to the lions and quite frankly it sucks because with some guidance i think i could have made a hell of alot more money and gotton some fair fights instead of the pile of bullshit i was handed.

live and learn i guess

Originally Posted by Scott Ball

I am a "pro," I have found having trainers and managers very helpful personally. If you have faith in your trainers, you will do what they tell you to nothing more nothing less, and they will have you where you need to be come fight time. Managers if they do the right job, will get you more money than you could yourself, and better fights. I have learned that if you manage yourself, and have no trainers, promotions will try to use you as a stepping stone more so than as a fighter. They only loose you if they piss you off, as a manger they loose all his other fighters, and the trainers fighters.

The most important thing in this question though is I think to realize that if you have a manager and trainer, which is new to me, all you have to focus on is yourself and getting ready. When you don't, your trying to negotiate your own purse, your own fights, and get yourself ready. Its way to much work, and way to much to handle at one time, being all this usually goes down in a 6-8 week period if its going great, and 2 weeks if its not.

King K is the man.