The generosity of people..

Posted by: OSXaddict

The generosity of people.. - 10/26/02 08:36 AM

The guy who reported the snipers at the rest stop is a trucker from KY. He told our news station that if (and he definately should get it) he receives the $500,000 reward, he'll give half to the victims families. Doesn't have to do it, but I find that to be an awesome gift.<br><br>
Posted by: MacGizmo

Re: The generosity of people.. - 10/26/02 11:35 AM

I wonder if Uncle Sam gets his grubby hands on any of that money?<br><br>
Posted by: carp

Re: The generosity of people.. - 10/26/02 12:10 PM

I believe that the IRS does take out his normal % of income.<br><br>
Posted by: MacGizmo

Re: The generosity of people.. - 10/26/02 12:43 PM

So, he will end up with a total of around $350,000. Giving half away will leave him around $175,000... not much of a reward for him considering he may have saved dozens of more lives.<br><br>
Posted by: carp

Re: The generosity of people.. - 10/26/02 12:49 PM

Better that he not pay the tax on the full 500 - give them the 250 and let them pay their own tax.<br><br>I would think that if he did it your way payed the tax on the 500 and gave them half of whats left say the 175 they to will have to pay tax on that so it now becomes double taxed<br><br>
Posted by: MacGizmo

Re: The generosity of people.. - 10/26/02 12:54 PM

No matter how you slice it... it's not much of a reward. There should be an "exempt" status on rewards of this nature.<br><br>
Posted by: carp

Re: The generosity of people.. - 10/26/02 01:01 PM

Right<br>I am not 100% sure a friend of a friend got a 10,000 reward and I heard he had to pay Fed tax but not state tax.<br><br>I know awards from law suits like medical malpratice, car accidents lose of life on and on those are exempt.<br><br>
Posted by: MacGizmo

Re: The generosity of people.. - 10/26/02 01:03 PM

Isn't it funny that they don't tax the awards that most frequently are never collected.<br><br>
Posted by: OSXaddict

Re: The generosity of people.. - 10/26/02 01:03 PM

They could make an exception in his case...<br><br>
Posted by: MacGizmo

Re: The generosity of people.. - 10/26/02 01:08 PM

Yeah... they "could", but I'm sure they won't!<br><br>
Posted by: OSXaddict

Re: The generosity of people.. - 10/26/02 01:09 PM

and why not?<br><br>
Posted by: MacGizmo

Re: The generosity of people.. - 10/26/02 01:10 PM

We're talking about the IRS here... cmon!!!!!!<br><br>
Posted by: OSXaddict

Re: The generosity of people.. - 10/26/02 01:11 PM

Yeah, but you never know!<br><br>
Posted by: Swatcat

Re: The generosity of people.. - 10/26/02 01:30 PM

The IRS = greed and they will get their share <br><br><br>