The Wheel (Of Fortune)
Moderator: SMLCHNG
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The Wheel (Of Fortune)
My wife called me into the great room last night. Sher was watching The Wheel. They are giving away one of those Latitude Buffett homes this week for a lucky puzzler solver. Big tax bill comes with it of course.
Every day you wake up you get another chance to do it right.
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Re: The Wheel (Of Fortune)
I saw that on FB, too.. Fun but lots of $ for taxes, so not much of a prize.
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Re: The Wheel (Of Fortune)
Yep, that unearned income will get you every time. Ask a lottery winner.
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Re: The Wheel (Of Fortune)
I don't understand this logic.
Who cares if it's taxed as income? A $350,000 prize taxed at 50% is still $175k more than zero.
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Re: The Wheel (Of Fortune)
I would care. Possible change in tax bracket for the year.surfpirate wrote: ↑November 2, 2018 12:11 amI don't understand this logic.
Who cares if it's taxed as income? A $350,000 prize taxed at 50% is still $175k more than zero.
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Re: The Wheel (Of Fortune)
So? For one year you're in a higher tax bracket? You still financially win. I don't understand.SMLCHNG wrote: ↑November 2, 2018 9:21 pmI would care. Possible change in tax bracket for the year.surfpirate wrote: ↑November 2, 2018 12:11 amI don't understand this logic.
Who cares if it's taxed as income? A $350,000 prize taxed at 50% is still $175k more than zero.
"There are no stupid questions. But there are a LOT of inquisitive idiots."
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Re: The Wheel (Of Fortune)
I've always thought that it would be pretty good if I was paying a million bucks per year in taxes, cuz that would mean that I must have a million or so for my self. Even better to pay TEN million..... I wish I paid lots and lots!
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Re: The Wheel (Of Fortune)
surfpirate wrote: ↑November 2, 2018 12:11 amI don't understand this logic.
Who cares if it's taxed as income? A $350,000 prize taxed at 50% is still $175k more than zero.
I agree. It's just worth pointing out. Believe it or not there are people who don't understand who this works with regard to taxation. I have a cousin who won a Ford Explorer several years ago. She sold it to pay the taxes and pocketed what was left.
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