Hold on . . . the coach claims to bring in *at least" $50,000 a month. The IRS allows for a 20 to 50 % deduction of adjusted gross from business income - " You may deduct charitable contributions of money or property made to qualified organizations if you itemize your deductions. Generally, you may deduct up to 50 percent of your adjusted gross income, but 20 percent and 30 percent limitations apply in some cases. Exempt Organizations Select Check uses deductibility status codes to identify these limitations.
So, the question posed here is, is the coach willing to donate $10,000, an easy write off or would he rather pay the IRS and see this mans children without a Father?
Coach?
THE BEEF