To: cardinal4
If she sells that car won't that be considered "income" and she will be required to pay "income" taxes.
Either way she sounds 'publicly' screwed.
If she has no money for food HOW can she afford to put gas and insure this vehicle, let alone license the thing.
I think we need a NEW government program helping navigate through a "winning". -sarcasm-
To: Just mythoughts
Winning the car is already considered income. She wouldn't be taxed twice on that. But a sales tax may be in order.
38 posted on
07/29/2006 6:34:20 AM PDT by
mountn man
(Growing old is mandatory. Growing up is optional.)
To: Just mythoughts
If she sells that car won't that be considered "income" and she will be required to pay "income" taxes.
I may be wrong but I believe the win of the car is considered income and she'll have to pay income taxes on it.
Also Texas has a very low vehicle registration fee so that's not a problem.
I am actually working with her right now on a deal for premium wheels for her Avalon. She really liked the deluxe spinner set. She has committed to buy the wheels by giving me her food stamps each month for 10 years. Good deal for her and me. We're all happy campers
To: Just mythoughts
If she sells that car won't that be considered "income" and she will be required to pay "income" taxes. Yep.
$1,365 to be exact.
1040 Tax Estimator for 2006
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