Tiger's New Home Practice Facility
- Thread starter willgolfer
- Start date
- Status
trickyric67
New
Pretty awesome!
Obviously, it's beautiful and property like that on the island is not cheap. But the thing that really sticks out is the cost of maintenance for a facility for one person. If we have any superintendents on here I'd like to get your input. My guess is he's contracted with a service down there but could you get away with paying for chemicals and staff, forget capital equipment costs, on a facilty like that for under 200k a year?
otto6457
New
That's when you realize just how much money Tiger has accumulated. And this is AFTER a divorce that cost in the 100's of millions.
Must be nice............
birly-shirly
New
Might not cost him anything - if it's tax deductible...and he posts some wins up sometime...
Good point, Birly, but I think it would be tough. Here's what the IRS calls a business expense:
To be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your trade or business. A necessary expense is one that is helpful and appropriate for your trade or business. An expense does not have to be indispensable to be considered necessary. (italics mine)
If some other pro has a facility like this I haven't heard of them. I think this beauty would flunk the "common and accepted" test but I wish him, and his accountant, well.
mgranato
New
That might be the most "bent" rule in professional golf.
willgolfer
New
drewyallop
New
McIlroy
Jim Kobylinski
Super Moderator
Just because many other pro's don't have it or even have one to that extent doesn't mean he couldn't argue it's claimable. It's a practice facility for his main business.
trickyric67
New
A couple of things here,
First a top golf course in south Florida has a maintenance budget of between 1.8 and 2.2 million dollars and that is to care for 300-600 acres of golf property,range and facility maintenance (we are year round but don't have to contend with seasonal changes or harsh winters). this is probably between 2-4 acres of basically short holes that will not get much traffic. Also Tiger will not be there most of the year giving a care taker a lot of time to work on it uninterrupted. I think it was Tim Robbie the former owner of the Dolphins that had a similar but smaller 2 hole set up at his home in Weston and had a deal with the Weston Hills cc to take care of it at a price well below $50,000 a year and I was told that by the Super himself (I may have the wrong celebrity). If Tiger has to pay $200,000 a year that is really nothing to his income.
Also, people keep talking about his divorce. It has been very well documented that he gave Elin 100 million dollars and that is to be paid over a time period. The Guy was making over 100 million a year for a decade, in his worst years 30 million plus and he lives in Florida which has no state tax so If he banked half (remember tax breaks and good loopholes used by a quality accountant could net him from 55-65% of his income) He could easily have 500 million in the bank. Do the math, if he only gets 1% return on that, it's 5 million a year or plenty to make Elin payments and maintain his mansion.
He will be fine and I look forward to his return next week.
I think he played pretty well without such a facility in his backyard, no?
The guy is a real victim. Some management exec has advised him to have this built. IMO it's all just a big joke. Who needs something like that when there are limitless golf facilities in FLA. Who needs a 55milliondollar house? Who needs all those women to satisfy their sexual urges? Who needs a $200m yacht? Who needs HGH? Who needs 4 knee operations?
Its all just perverse IMHO.
The guy is a real victim. Some management exec has advised him to have this built. IMO it's all just a big joke. Who needs something like that when there are limitless golf facilities in FLA. Who needs a 55milliondollar house? Who needs all those women to satisfy their sexual urges? Who needs a $200m yacht? Who needs HGH? Who needs 4 knee operations?
Its all just perverse IMHO.
trickyric67
New
I don't think so at all. He basically had a golf course in his back yard at isleworth but didn't have his yacht (which he really seems to enjoy) His fame is so huge that he cannot go anywhere without being bothered or interrupted. He is wealthy beyond all budgetary realities so why not live in the lap of luxury and enjoy the spoils of his labor?
If he wasn't married he would be called a stud and worshiped for his female conquests. He is basically a victim of his own success and fame. I grant you that he made the choice to be a total douche bag to his family and he has paid dearly for it, but he still earned his wealth and I have no problem with him enjoying and taking advantage of it. Didn't his Yacht originally belong to Greg Norman who also it turns out cheat on his wife repeatedly (not to mention stealing his best friends wife) and had a compound in Jupiter Florida that rivaled Woods?. Why doesn't Greg get crushed like this? I think that growing up the Mickelson's had a short game area in their back yard as well and they didn't have Woods wealth. I like to marvel at "lifestyles of the rich and famous". I don't begrudge anyone the opulence of spending what they earned.
willgolfer
New
Doesnt Elin have a house near Tiger's Jupiter compound?
- Status