The Supplemental Savings Program will feature a vendor-supported savings plan, with select vendors providing concessions to the USPTA for the benefit of participating member pros. Payments will be made on a quarterly and annual basis to member accounts.° These contributions will be considered taxable income. The following vendors are participating in the program:
Tennis Warehouse - 5% on the purchase of Adidas footwear and apparel for pro shops once $750 is spent per year (not for personal use)
10-S Tennis Supply – 4% contribution on nets, court equipment, and Aer-Flo Tuffy windscreens
Wilson – 2.5% contribution on incremental sales off of your previous years baseline of purchases of racquets, balls, strings, grip, bags, 10 and Under Tennis equipment and stringing machines, along with platform tennis paddles and balls°
Har-Tru – 3% on all ball equipment
Fiix Elbow - 5% back on purchases of Sta Active elbow devices
Nyberg, Fletcher & White - 3% back on all purchases made
Revo Eyewear - 3% back on all purchases made
Supplemental Savings Plan is used as a vehicle to deposit the contributions from vendors. In this account, funds will be taxed under the Internal Revenue Code.
Pros have the choice of investing by transferring the supplemental savings plan funds into a Qualified Retirement Plan (e.g. IRA, ROTH IRA)
Individual Retirement Accounts (IRAs) were created to give people a tax-advantaged way to save for retirement. The biggest advantage is not having to pay taxes on annual investment earnings (gains, interest, or dividends) while your savings are in the account. The earlier you start to save in a tax-deferred IRA, the more time you have for those savings to grow through the power of tax-deferred compounding.
- At this time, only those pros who own a club or resort pro-shop or have fiscal or managerial responsibility for the shop are eligible for these contributions from Tennis Warehouse.
- Wilson and Tennis Warehouse accounts will be tracked and recorded quarterly but payments will be made on an annual basis.