What happens when poor as fuck people win those TV contests and win a car? How does 19 year old Tyrone working at Walmart insure and pay the running costs on a Lambo?
What happens when poor as fuck people win those TV contests and win a car...
Brayden Peterson
Other urls found in this thread:
youtube.com
accountingweb.com
twitter.com
Justin Martin
he sells it on the spot by jewish vultures that want to enrich him by a few grand in exchange for his car. Bro bro bro, you want the irs on your back? I don't think so I'll take that off your hands to the irs can't touch you for $1000 and what ever taxes you had man. I'm paying all those fee's and taxes man. $1000 is more than you came here with rite? am i rite? Do you want to leave with the irs on your back?
Ryan Price
I remember one of the pimp yo ride contestants tried taking MTV to court over the tax burden placed on him because of the value of all the free shit they gave him. A similar thing happened to dieselsellerz.
Jaxson Powell
You should find this link interesting:
accountingweb.com
In a lot of instances, the people actually just end up declining the prizes because they can't pay the tax on them. The Price Is Right, for example, requires people to pay the tax on prize items up front, before they will even release the prizes to them, and it's the same with a lot of other game shows and give away
In other instances, the people just end up selling the shit before they ever have to deal with the taxes, and just pocket the cash, although I imagine that's harder to do now than it used to be.
Eli Jenkins
>13k taxes for a 1996 truck
>getting his dad involved
NEET detected
David Adams
This. I won a contest on Ebay my senior year of highschool for a Chrysler 300 modded by West Coast Customs. Excited as fuck, but in the contract it was appraised at $75k and being a dependent, they assessed my parents' income, meaning I'd have to pay $30k in taxes for the car. It was a used car before modding it even with 10k miles at that, and the shitty Pentastar v6. Had to refuse because fuck the government and California's government specifically. Pic related
Dominic Mitchell
Shit can't read the entire article.
Is that why most of these contestants are people that would be fine on their own?
Ian Gomez
By fine, I mean well off.
Like they have a nice career and would most likely be able to afford these prizes with some proper budgeting.
Is that why these free cars are super base models with manual everything?
Jaxson Gonzalez
Basically looks at The Price Is right (TPIR) as an example of what people have to deal with when they win shit loads of stuff on a game show
Explains how people are taken backstage after the show, and have to immediately sign forms promising to pay the taxes, or forgo the prizes, and how lots of people have to use any cash prizes they won on the show to cover the tax cast of non-cash prizes that they win. Also explains how lots of people who win shit like the cars and RV's just refuse them because they can't afford the taxes
Not really, you have plenty of less than well off people who win shit on game shows. The cars are base model because the game shows have to buy them out of the shows budget, so why the fuck would they go for anything more than the base model
Ethan Roberts
I would think it's the opposite for the liberal Californian government. The less you make, the less taxes you would have to pay. My parents' income total exceeded 6 figures (barely) which is why I would've had to pay 30k for the car above. If I was a burger flipper/college student who was independent, it would've been under 10k for sure, closer to 3-5 by what I calculated. They penalize success.
Luis Rivera
That must suck having to deny a "free" vehicle because you can't afford the taxes.
Luis Gomez
especially when you just turned 18 and your parents explain why you can't afford it. We almost pulled the trigger but I had appendicitis surgery that was costly later that year that would've put us under if we "paid" for the car. It's all good though, enjoy working on my cars that I can call my own.
David Sullivan
Paying tax on winnings is retarded.
Enjoy your """"""freedom"""""" yanks
Jackson Richardson
what's the policy in your country?
Mason Perry
I have no idea what kind of europoor shithole user lives in but it's not a "yank" problem, the problem is the government as an institution. Those fucking feminists should stop complaining about the patriarchy and start complaining about the government, they're excellent at shouting and making people give a fuck
Adrian Bennett
Kangarooland doesn't tax winnings at all from lotteries, contests, gambling or anything lIke that.
There was one Aussie who won like 10 mill in some Vegas poker tournament years ago lucked into it on holiday. In an interview he jokingly said "imma pro gambler now" and there was talk about the tax office going after him since if he was a pro then the winnings counted as income and we're taxable. No idea what came of it though, but i doubt he paid anything.
Jaxon Flores
Nah man, constructively working on real world resolutions to actual problems doesn't make you youtube famous
See, it IS shitty that in the US, if you win a large lottery payout, they basically deduct the taxes out of your winnings, and you can take the remainder as a lump sum or structured payout
Caleb Moore
People who use games shows/lottery typically are poor.
Many are poor because they're born into it, but a lot don't know proper money management. Once they win the lottery/game show they think they can spend all their money.
Typically they end up going bankrupt, selling off their car, etc.
Julian Jones
When the US powerball was a billion dollars a few months back you could go into it in Aus by buying a "ticket" from (mostly government owned) bookies here. Essentially you were making a bet on what numbers would be drawn and if you were right it'd pay out with the odds giving you what an American would have won. Only you wouldn't have paid the tax so while whoever won in America got like 400 million an Australian would have gotten the full billion.
It boggled my mind the first time I heard winnings get taxed over there.
Isaiah Scott
The taxman always gets his due, user. If you don't pay it from your income, they'll take it another way.
Gabriel Wilson
>Win something
>Have to pay taxes on it
>Land of the free
Thank cheesus you don't live in one of those socialist yuropoor country right?
Alexander Long
Older than dirt fag here, I had to pay taxes on a new 93 ss Silverado when I won it through a local radio station.
Jack Bailey
I'm not denying the US tax system is shit. Definitely. At least if you win actual money you get to see some of it. If it's an actual item you have to shell out your own money which is fucking ridiculous. And yet we're still trillions in debt
Robert Harris
Canada doesn't tax shit
Cooper Powell
Don't they offer cash value option in the US?
Camden Jones
In my case with the 300, no. They appraised it at a terrible price probably to get more taxes. Like I said, used v6 2012 in 2013 with some nigger upgrades. Definitely not 75k
Gabriel Collins
What the fuck are you all the taxes you're paying for one car in California that it would come to 30k?
Noah Diaz
The appraised value of the car is treated like income. Add that to whatever my parents made at the time and that much of it gets taxed based on their tax bracket. That's what was owed.
Cameron Butler
Tell us a story LPG!