Barbara, a Survivor fan, told me that those new cars the group got as gifts are taxable! Yikes! Meaning that say those 2 new cars that Sean recieved will be taxed on their value. Say the value was 50,000 which kicked him up to a 28% tax bracket the those cars cost him 14,000 in taxes!!! Which means he may have to sell one of em to pay his Uncle Sam! Life is unfair.......Kirk

-- Anonymous, May 23, 2002

Answers

Yep, Keith used to work for the state lottery and they took a huge chunk of taxes out before they gave the winners the money. Any sort of raffle, lottery, or sweepstakes prize is considered taxable income by the federal government and many states. I was given a "Special Recognition Award" at work one year and they even took taxes out of that!

-- Anonymous, May 24, 2002

No kidding...when I used to work in stores, I used to win sales contests (guess it's the b.s. factor or something). Over time, I won mostly clothing, but also cash, a microwave, a teevee, and other junk. I was really astonished that I had to pay tax on these "awards"!

I keep hoping to win the Lotto (but I hardly ever remember to buy tickets). At least I understand that I won't be getting quite as big a chunk of it after I pay the tax. But of course, I'm sure I'll be finding that out any day now... 8-)

I guess what's really lucky is that I'm not working in retail sales anymore!

-- Anonymous, May 24, 2002

he can always make a "charitable donation" of one to readjust his bracket.

-- Anonymous, May 24, 2002