Hey guys... My name is Zach and I'm a pro fighter. I was wondering if anyone had any connections or knew how i could get someone to sponsor with product... I use protein supplements ALOT and they get expensive... I'm 5-0 at middleweight if anyone needs info... thanks guys...
If you're a Licensed Un-armed Combattant you shouldn't be spending a single dime on your supplements. You're aware they're tax write-offs right? You get every cent back at the end of the year. As a Pro Fighter your body is your business, supplements are business expenses.
Normally business expenses are tax deductions not tax credits. Meaning you could deduct the cost of the protein from your income so as not to pay taxes on the portion of your income spent on protein. For instance: $1000 spent on supps. $30,000 income. You pay income tax (let's use 30% tax bracket for ease here) on $29,000 worth of income. Total tax = $8700 As opposed to not 'writing it off' where his taxes are 30% income tax on the full $30,000. Total tax = $9000 Saving of $300 on $1000 spent on supps is not the same as 'getting it all back'. Tax 'write-offs' or writing something off on your taxes normally equates to a tax deduction as listed above not a tax credit. Also the lower the tax bracket you are in, the less money you save on a deduction. Barring a tax credit (and I could be wrong but I really don't think there is an outright tax credit here for that) the only way to 'get it all back' is if he has enough deductions to lower his income to zero for tax purposes. Normally this only works for business start-ups in the first few years that can amortorize big purchases over time.
wow.. this is interesting info!.. i never knew this before.. does this apply to food and doctor exams?? maybe lasik surgery and restaurant bills? what about training equipment, mats and clothes? lol
There is something that applies to it for Fighters but I'm not 100% certain what it is. I'll have to look it up. But this was one of my first questions about going Pro myself. It's also similar with Bodybuilders, I never understood how they sustained a living spending copious amounts of money on food, gym memberships, supplements, etc. It has to do with the tax-breaks athletes get.
This may sound like a silly question, but how does one get licensed as a fighter? I have the connections to fight on occasion, and I could sure use the tax break on the supplements I buy.
Typically it's done through State Athletic Commissions. But mind you it has it's drawbacks. Like if you get into a fight in the streets and you're proven to be the aggressor, you're going to catch greater charges because you're a Licensed Un-armed Combattant.
In fact, if you are a licensed fighter, if you are charged with assault the state will usually up your charges from assault to "assault with a dangerous weapon," which obviously carries considerably worse penalties. No joke. The obvious remedy is not be a fucktard and start fights, and if you are forced into a fight make sure you say loudly before anything starts that you are NOT INTERESTED IN FIGHTING so that you have witnesses to back your self defense plea.
That's fine. I don't start fights, so it's no biggie. As a matter of fact the last "street fight" I ever had was in grade school...lol Thanks for the info! I'll have to check it out!
I know some folks at Anabolic Xtreme that could definately hook you up but I doubt you'd want to be associated with them.
