Posted on 01/31/2017 7:28:57 PM PST by lightman
I knew that would get your attention!
So, tonight I'm a fly on the wall at the United Way of York County (PA)Campaign Victory Celebration, watching the "lucky" donors whittle down to the final two, one of whom will receive a $30,000.00+ loaded up Harley and the other who will receive a $3000.00 travel voucher from AAA.
There are two finalists. I know one of them....Lynn Henry, one of sons of Spring Grove area schoolteacher who lived past her 101st birthday, who followed in his mother's footsteps and taught in the Dallastown Schools for a long time before retirement. And, by his admission, has been a United Way donor for many, many years.
He's asked, "what are you hoping for?" "NOT the Harley".
So guess what---who wins the Harley? The retiree who doesn't really want or need it.
NOW PONDER THIS:
Harley Davidson gets a $30,000.00+ tax write off for their in-kind donation to the United Way.
Lynn Henry--who doesn't want a Harley--gets a bike and a $10,000.00+ tax bill for "miscellaneous income".
THAT SUCKING SOUND YOU HEAR IS NOT OF TRUMP DRAINING THE SWAMP.
Like was trump supposed to change the tax laws in the 7 days since he has been president? This post is retarded.
Just Captain Obvious pointing out that there are some serious injustices inflicted by the tax code.
DJT is my man and I know the fixes are coming.
Until then, is sucks big time.
Since he doesn’t want the bike, sell it and pocket the $20k balance.
If I win a $1 Million lotto, I don’t get much sympathy complaining about the 45% tax.
Take the bike. I will buy it for $14k
Only face a $4200.00 tax bill for the proceeds from that sale.
Our tax code is f'cked.
And no, a "flat tax" isn't the answer.
It's as dumb nn idea as a "flat earth."
The value of the prize is greater than the tax bill. Most would be thrilled to have the “problem” you’re complaining about.
Good luck. 25% withholding and fair market value reported to irs.
donate it back to the United Way.
I cant believe he really wanted a $3000 travel voucher from AAA. Those meetings are free (they’ll ask for a buck if ya got it, to help pay the rent ) and are generally all over the place. Wouldn’t have to travel far at all.
Thats not how that works, he owes on the supposed value it was originally listed at. He owes $10000 weather he sells it for $30k or $1. Dealers are only going to offer about $15000.
He is likely to wind up with $5000 in his pocket. Better than nothing but not exactly a big windfall like the 30 people are thinking.
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