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#15 |
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California is 2400 miles away...I'll never get this chance again. I'll be there!
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#16 |
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First FR-S
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Im in.
fiance: you better not mess around w any girls me: cmon there cant be any there. I bet its all guys Im wrong, right? Lol I kid
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#17 |
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Senior Member
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Not one of the First 86.
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#18 |
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Senior Member
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#19 |
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Senior Member
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Have the all clear from the homefront but waiting to get some information on potential tax implications from the marketing company.
For any of those that attended the Miami event, did you end up getting a tax bill for that? Not sure if this counts as a sweepstakes/contest win or not but that could make/break my decision. Last edited by Dadhawk; 03-05-2012 at 11:35 AM. Reason: spelling again... what is it with these forums and my spelling?!? |
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#20 | |
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First 86
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Quote:
__________________
Don't shop, adopt!
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#21 | |
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Senior Member
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Quote:
So, you'll get either a 1099 if they consider it a result of the drawing, or a W2-G (nonemployee income) if they don't. Either way, as probably pretty much everyone thought, there is a tax liability. Before I can decide to go, I need to know what value they plan to assign to the trip. As much as I would like to go and meet everyone, I need to know how much its going to cost me so I can make an informed decision. |
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#22 |
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Senior Member
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CA Trip!
Count me in !
SCION !!!!
__________________
Autocross & Drift = my Anti Drug!!
I have Car A.D.D prior few: 12' Evo GSR, 13' FR-S, 11' STi, 08' 135i, 07' 335Xi, 08' STi, 04' 350Z, 04' STi, 02' WRX. 96' GSR, 04' SE-R/SpecV |
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#23 | |
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Don't you have to reply by .... today (or so) to Scion?
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#24 |
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#25 | |
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Quote:
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#26 | |
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Senior Member
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Quote:
At this point, I'm a tentative "YES". Traveling from the East Coast though, this could be an expensive trip and the answer will depend on the APV (approximate prize value). Last edited by Dadhawk; 03-05-2012 at 01:23 PM. Reason: got more info. |
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#27 |
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So, would the APV could be considered income? If the trip is worth $2000, and my tax bracket is at 25%, would I owe $500?
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#28 |
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Senior Member
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That is my understanding, pretty much true for any type of sweepstakes or other contest. If the single value is over $600 then you should get a 1099 and the IRS then definitely will be looking for it. Can't see how this wouldn't be over that amount. Regardless, even if its under that amount, you are supposed to report it.
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