Some of the people who won new cars on Oprah are whining about having to come up with $7K in taxes. How about selling the car, paying the taxes and some other debts off?<br><br>Poor babies....<br><br>
Pete
www.workwithpete.com
Registered: 06/17/03
Posts: 5996
Loc: United States
What, these people didn't have an older car before that they could turn around and sell now to help pay off the taxes?<br><br>Puh-lease. Let ME have that problem- a brand new car for $7K. A good hard smack with a wet sock might be in order...<br><br><br><br>[color:red]C'mon...you know me.</font color=red>
Exactly....I read in that story where one person is considering getting a car loan to pay the taxes. What a disaster!<br><br>Most people get some back from the IRS, so that will cover some of the 7K, then they just need to sell some stuff. Either an older car or something. <br><br>
I friend of mine won a Trans Am in a contest. By the time all the taxes etc. were paid and the fact that the dealership drove it around during the contest thus making it a used car she got 8 bucks left after it was sold.<br><br>I said, well shoot, let's take it for a weekend before you do that but the insurance for the weekend would have cost her left nut if she had one. (She didn't, she was a poor post doc.)<br><br><br><br><br><br><br><br>luciferase is a four nineteener
Now that I think about it, Oprah should make this right. <br><br>GM paid for the cars, so Oprah should just give 7K to each winner, of which there are 276.<br><br>She can gift up to 10,000 tax-free in cash to each winner. It would cost just under 2 million to her....which is like 5 cents to you and me. <br><br>
Some of the people weren't that well off - some didn't have cars. But yeah, they could have sold it. In Canada, there are no taxes on lottery winnings. Not that I've ever won anything substantial, but if I ever do - I'm set. <br><br>
<br><br>
<br><br>
Previous Topic
Index
