From Simone Biles To Michael Phelps, US Olympians who Paid Hefty Tax on their gold medals

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She has flipped, tumbled, and leaped her way into the hearts of millions throughout the Olympic games. But when Simone Biles returns home she will be in for not just a major celebration but also a hefty tax bill. The same happened with Michael Phelps as well.

Simone Biles slapped with a tax bill

When Simone Biles won five Olympic medals - four gold and one bronze, slapped with a tax bill close to $43,560.

Michael Phelps's tax bill to date

Some analysts believe Phelps, who's worth an estimated $55m, could face a tax bill of $55,000.

Can athletes deduct their tax bill?

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Currently, there's no official date announced yet. However, Biles and Owens claimed that the wedding will be on 2023.

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From Simone Biles To Michael Phelps, US Olympians who Paid Hefty Tax on their gold medals

She has flipped, tumbled, and leaped her way into the hearts of millions throughout the Olympic games. But when Simone Biles returns home she will be in for not just a major celebration but also a hefty tax bill. The same happened with Michael Phelps as well.

Simone Biles slapped with a tax bill

When Simone Biles won five Olympic medals - four gold and one bronze, slapped with a tax bill close to $43,560.

Michael Phelps's tax bill to date

Some analysts believe Phelps, who's worth an estimated $55m, could face a tax bill of $55,000.

Can athletes deduct their tax bill?

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