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Posted on 2/22/20 at 7:53 am to VernonPLSUfan
quote:Get fricked thief
VernonPLSUfan
You're part of the problem with insurance rates. Just as bad as the 'cultcha' you rednecks rail on for fender bender whiplash lawsuits.
Posted on 2/22/20 at 7:53 am to greygoose
Negotiate to .75
Profit
Profit
Posted on 2/22/20 at 7:54 am to greygoose
Buy a $13,000 side by side. Taxes and registration should get you to the 15k. Resell it for $11k to $12k. You will still have income tax to pay out of that.
Posted on 2/22/20 at 7:56 am to TIGRLEE
quote:
Negotiate to .75
Profit
They won't budge. I'm open to offering that deal to a private buyer though! Pick out want you want, I buy it, hand you the keys and a bill of sale.
Posted on 2/22/20 at 7:59 am to greygoose
Same here!
Posted on 2/22/20 at 8:03 am to greygoose
1) Congrats on the hit
2) I have won many large jackpots the last 25 years and I can promise you one thing: if you won this at an Indian casino (eg. Wind Creek casinos, Pearl River Resort - Silver Star / Golden Moon, Coushatta, etc.) you do NOT, I repeat do NOT have to report this as they must not turn anything in to the Feds as they are their own gaming commissions.
Other corporate casinos, yes but not the tribal ones.
If this was won at a corporate casino, just offset the gain with losses.
ETA: where was this at and what type machine / denomination? Buddy of mine many years ago worked for IGT and said $5 and above denominations have the most frequent payouts by far and also told me about the Indians.
2) I have won many large jackpots the last 25 years and I can promise you one thing: if you won this at an Indian casino (eg. Wind Creek casinos, Pearl River Resort - Silver Star / Golden Moon, Coushatta, etc.) you do NOT, I repeat do NOT have to report this as they must not turn anything in to the Feds as they are their own gaming commissions.
Other corporate casinos, yes but not the tribal ones.
If this was won at a corporate casino, just offset the gain with losses.
ETA: where was this at and what type machine / denomination? Buddy of mine many years ago worked for IGT and said $5 and above denominations have the most frequent payouts by far and also told me about the Indians.
This post was edited on 2/22/20 at 8:14 am
Posted on 2/22/20 at 8:08 am to Hussss
quote:
Hussss
Yep, it was Indian and they issued me a W2G. They always do.
Posted on 2/22/20 at 8:15 am to greygoose
Exactly right, they always issue one to ya but they don’t turn it in. I have never once had a problem not reporting it.
Posted on 2/22/20 at 8:39 am to greygoose
Hookers and blow.
Posted on 2/22/20 at 8:40 am to SuperSaint
quote:Damn that escalated quickly. He wanted ideas and I gave him one. Never owned a ATV in my life and never will.
Get fricked thief
Posted on 2/22/20 at 8:48 am to VernonPLSUfan
quote:
Buy a ATV. Get insurance on it and have it stolen off the trailer attached to your truck. Then get insurance pay off and sell the not really stolen ATV to someone in Bumfrick Alaska. Profit, profit.
Insurance fraud.
quote:
VernonPLSUfan
Oh. Vernon Parish. Makes sense.
Posted on 2/22/20 at 8:48 am to VernonPLSUfan
quote:
Damn that escalated quickly. He wanted ideas and I gave him one. Never owned a ATV in my life and never will.
SuperSaint is a mod on this board. He may send your name and address to the police. If you have been involved in insurance fraud, I feel for you, b/c you will be caught.
Posted on 2/22/20 at 9:30 am to greygoose
Go get a jet ski and resell it. Logic would suggest you could sell it for more and 50 cents on the dollar.
Posted on 2/22/20 at 9:56 am to greygoose
Here are some potential issues
They are not going to negotiate the price with you at all, you will have to purchase at MSRP
You will have to pay sales tax , license, registration in cash, and then whoever you sell the item to will again have to pay those fees in cash
The already stated income tax you will/should have to pay, weather or not the casino reports it, it is your legal duty to report income, play that how you feel, I would report and try to offset with losses
Because of all of this it may be better to buy accessories at the power shop and resell those, no registration fees, will not have to pay sales tax a second time on private resale, and those items are generally not negotiable so you would get a closer to value for your winnings
They are not going to negotiate the price with you at all, you will have to purchase at MSRP
You will have to pay sales tax , license, registration in cash, and then whoever you sell the item to will again have to pay those fees in cash
The already stated income tax you will/should have to pay, weather or not the casino reports it, it is your legal duty to report income, play that how you feel, I would report and try to offset with losses
Because of all of this it may be better to buy accessories at the power shop and resell those, no registration fees, will not have to pay sales tax a second time on private resale, and those items are generally not negotiable so you would get a closer to value for your winnings
This post was edited on 2/22/20 at 10:13 am
Posted on 2/22/20 at 10:00 am to greygoose
I have no idea what your tax profile looks like but maybe talk to a CPA about whether buying something and then donating it to a charitable organization is a good option.
Otherwise, post on the Outdoor Board asking if anyone is planning to buy one of those vehicles and you’ll cut them a deal.
When you report gambling income on your taxes, can’t you claim gambling losses against that income? Not sure.
Or just sale it. (Sorry - I just had the urge to use “sale” improperly.)
Otherwise, post on the Outdoor Board asking if anyone is planning to buy one of those vehicles and you’ll cut them a deal.
When you report gambling income on your taxes, can’t you claim gambling losses against that income? Not sure.
Or just sale it. (Sorry - I just had the urge to use “sale” improperly.)
Posted on 2/22/20 at 10:02 am to BobABooey
quote:
Or just sale it. (Sorry - I just had the urge to use “sale” improperly.)
Ughh, you are supposed to cell it or put it up for sail
Posted on 2/22/20 at 10:43 am to Tigerpaw123
Good advice, unlike much of what has already been posted.
Tax fraud, insurance fraud, wannabe mods; what a mess
OP, congrats on the windfall.
Tax fraud, insurance fraud, wannabe mods; what a mess
OP, congrats on the windfall.
Posted on 2/22/20 at 10:55 am to VernonPLSUfan
quote:
Buy a ATV. Get insurance on it and have it stolen off the trailer attached to your truck. Then get insurance pay off and sell the not really stolen ATV to someone in Bumfrick Alaska. Profit, profit.
Be sure not to claim it on your taxes, too. That way you can add a tax evasion charge to the insurance fraud charges when you get caught.
Posted on 2/22/20 at 11:01 am to Catahoula20LSU
quote:
Buy a $13,000 side by side. Taxes and registration should get you to the 15k. Resell it for $11k to $12k. You will still have income tax to pay out of that.
That’s not how it works. You get the machine for free, you cover the costs of TTL on your own.
OP, I’d probably go buy something stupid fun and use it a couple weeks. Then sell it.
50 cents on the dollar after taxes you end up with $6500 or so. You can certainly buy something for $14,000 and sell it and do better then that.
The other thing, is 50 cents on the dollar and you are hastle free. Otherwise you gotta deal with people buying an atv from you.
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