G-D IRS, I hate them

Discussion in 'The Lounge' started by JCBRAVE, Mar 30, 2011.

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  1. Hoffa

    Hoffa Freak you you freakin' freak

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    Sell the 15k worth of vouchers you won't be using for 5k to pay the taxes...ebay?...
     
  2. World Peace

    World Peace Nephew Gunner

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  3. JCBRAVE

    JCBRAVE goTitans 2019 Survivor Champion

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  4. Chapparal97

    Chapparal97 Grumpy Old Fart

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    If you have to shell out dough for the taxes anyway, I have a question......Why not use the entire $30k? Damn the torpedos dude, SPEND IT ALL!

    Do you only pay on what is expended or the full amount of the prize? I assume it's a 1099 thing so you must include it as earned income in the year used. You would owe FICA and income tax on the 1099 amount, but that could be offset by any deductions. At least you're not self employed where you pay major additional taxes.

    If you pay tax on the full prize amount, use it all on your bride. She'll dig it.
     
  5. eTitan81

    eTitan81 Touchdown Titans

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    Sorry about you lack of tax knowledge but the first thing I would think about after winning money is okay, how much money do I get after I pay taxes? If you fail to pay it, then they will eventually garnish your wages from your paycheck.
     
  6. GoT

    GoT Strength and Honor

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    I'm sitting here thinking of different ways to laugh in some idiot dudes face when he askes me too pay his taxes cause he wants too marry my daughter.
     
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  7. World Peace

    World Peace Nephew Gunner

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    [​IMG]
     
    • High Five High Five x 1
  8. TitanJeff

    TitanJeff Kahuna Grande Staff

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    I had a girlfriend once who won a radio contest which included a year's free rent at an apartment, furniture, a car and so much groceries a week. I forget the value but she ended up having to sell the car and furniture just to pay the taxes based on the RETAIL values of the items which was quite inflated.
     
  9. GoT

    GoT Strength and Honor

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    won $104.50 a few years back - they 1099'd me - luckily I put $20 back for taxes
     
  10. GoT

    GoT Strength and Honor

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    Makes me wonder about the 'winners' on the price is right and such games. I mean winning crap is fun and all, but when the taxman shows up and wants paid, all of a sudden those $10k elephant foot umbrella stands don't look so good in the mancave.

    FWIW I learned a long time ago ALL taxes are paid with a gun pointed at you. Don't believe me try NOT paying them and see what happens too you.
     
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