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Started By
Message
re: Some chick won an Aston Martin on The Price is Right
Posted on 2/15/16 at 2:04 pm to 13SaintTiger
Posted on 2/15/16 at 2:04 pm to 13SaintTiger
quote:
You have no idea what goes on behind those closed doors.
Well... fill us in.
1
Posted on 2/15/16 at 2:05 pm to 13SaintTiger
You know she can't afford the oil change on that thing.
Posted on 2/15/16 at 2:07 pm to 13SaintTiger
sorry bob barker
Posted on 2/15/16 at 2:10 pm to anc
quote:
CA requires $10,000 in taxes to take possession of car.
Is this accurate? I thought they just owed sales tax, title and license to take possession, and then you must declare the value as miscellaneous income on your taxes for that year.
Sales tax in CA is 7.5%, so she would owe $9k plus title and license. Then she would owe federal and state taxes at the progressive rate she falls into with the extra $120k of income for the year.
Posted on 2/15/16 at 2:14 pm to LSUBoo
Posted on 2/15/16 at 2:14 pm to yellowfin
Not sure about TPIR, but some car give aways give you the money to cover taxes. Like that company that will auction off two of the same cars (one late model/one new model). I wish I could win a 1970 dodge challenger RT plum crazy purple and a 2015 hellcat and the cash to cover the taxes.
Posted on 2/15/16 at 2:14 pm to GRTiger
quote:
Is this accurate? I thought they just owed sales tax, title and license to take possession, and then you must declare the value as miscellaneous income on your taxes for that year.
Sales tax in CA is 7.5%, so she would owe $9k plus title and license. Then she would owe federal and state taxes at the progressive rate she falls into with the extra $120k of income for the year.
Yeah, but with game shows, CA requires the taxes be paid before possession is taken. You can file and get a refund if you happened to overpay.
Here's a good primer with a tidbit that a guy from New Orleans won a trip to New Orleans: LINK
This post was edited on 2/15/16 at 2:17 pm
Posted on 2/15/16 at 2:16 pm to anc
You stole my link 
Posted on 2/15/16 at 2:17 pm to 13SaintTiger
Yeah, already read that article... she had the advantage of not living in CA, so she ended up getting her CA taxes returned.
Didn't say anything on what she was taxed for selling the items.
Didn't say anything on what she was taxed for selling the items.
Posted on 2/15/16 at 2:18 pm to anc
quote:
Here's a good primer with a tidbit that a guy from New Orleans won a trip to New Orleans:
No, he lost a trip to New Orleans.
And apparently the trips aren't even all-expenses paid.
Posted on 2/15/16 at 2:22 pm to LSUBoo
She said she owed $2500 to get the prizes released
YF, y u keep down voting me?
YF, y u keep down voting me?
This post was edited on 2/15/16 at 2:31 pm
Posted on 2/15/16 at 2:23 pm to anc
leapin lizards!!!....I see a net loss
taxed at retail value of car! yikes!
how much you suppose insurance is for that mo-fo? way more than I wanna spend!
I doubt they'll give her cash instead...she's pretty screwed, just don't know it yet...
taxed at retail value of car! yikes!
how much you suppose insurance is for that mo-fo? way more than I wanna spend!
I doubt they'll give her cash instead...she's pretty screwed, just don't know it yet...
Posted on 2/15/16 at 2:26 pm to anc
Taxes like this piss me off. You just won a fricking prize. There should be no tax for a fricking prize. frick off government.
Posted on 2/15/16 at 2:30 pm to 13SaintTiger
quote:
She said she owed $2500 to get the prizes released
Which she claimes she got back at the end of the year because she lived in Nevada.
quote:
I was lucky to have had a little money in savings, plus the $1,200 I won in Plinko.
AVC: Did they give you that money?
AS: No, they took it off the taxes I owed. So basically instead of owing $2,500, I only owed $1,300 to get the prizes released. Then at the end of the year, because I live in Nevada, I got that money back, which was kind of a bonus.
After reading that story, I don't really believe half of it anyway.
Posted on 2/15/16 at 2:31 pm to anc
quote:
Yeah, but with game shows, CA requires the taxes be paid before possession is taken.
Income tax on a married person for $120k in California is about $5,300. I assume they wouldn't make her pay both income and sales tax for the same prize, but it's Cali, so it wouldn't surprise me.
Posted on 2/15/16 at 2:32 pm to HamzooReb
quote:
You just won a fricking prize
but you only pay taxes on it...if you win a house you still have to pay the tax
Posted on 2/15/16 at 2:35 pm to Topwater Trout
IMO if you win anything you should pay no taxes
Posted on 2/15/16 at 2:35 pm to GRTiger
quote:
Income tax on a married person for $120k in California is about $5,300. I assume they wouldn't make her pay both income and sales tax for the same prize, but it's Cali, so it wouldn't surprise me.
Didn't California make the guy who caught the Barry Bonds HR ball passing Hank Aaron pay income tax on it? Even though he wasn't initially planning on selling it, he did just to cover the taxes.
Posted on 2/15/16 at 2:41 pm to HamzooReb
even the lottery?
Posted on 2/15/16 at 2:46 pm to Topwater Trout
Yes even the lottery and it pisses me off when they say $600 mil has been won when that person will only see half of it
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