| rdorman |
11-13-2007 12:58 PM |
Lcs Raffle Car Tickets Are Up!!
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| Poolw |
11-13-2007 02:01 PM |
The tickets will make a nice Christmas present for me to buy myself. A tax deduction now and if I win it'll be Christmas in June. Don't know what I'll do with two SPF cobras, but it'll be fun trying to figure that out.
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| rdorman |
11-14-2007 06:31 AM |
Now that is the Christmas spirit!
As for the tax deduction, check with your accountant. It is my understanding that raffle tickets are not deductable even though we are a 501(c)3 corporation.
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| blykins |
11-14-2007 06:40 AM |
Rick, what are the engine specs?
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| rdorman |
11-14-2007 06:46 AM |
Quote:
Originally Posted by blykins
Rick, what are the engine specs?
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Heck I am not sure! But I have asked the question and will let you know! Last time I saw the car the engine bay was empty. |
| rob frink |
11-14-2007 07:17 AM |
.............
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| blykins |
11-14-2007 07:22 AM |
Is this one 427ci?
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| Michael P. Wole |
11-14-2007 12:47 PM |
tax's who pays tax's?
I do know if you win it you owe income tax on it...what ever value is put on it is questionable..but you will owe ordinary income tax..depends on your tax rate how much you owe...nothing is free! I think you can deduct the price of the raffle ticket from the value of the vehicle if that helps you.
A friend of mines wife won a car on a game show....had to sell the car to pay the income tax on it(long time ago and they were a young married couple with a couple of kids). Boy do I remember those days.
You guys just go ahead buy you tickets and let me win it cause I can pay the taxes now. I know it is a dark and lonley job but someone has to do it, mite as well be me.
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| rdorman |
11-14-2007 01:21 PM |
I need to talk to your accountant! Seems to me that previous winners paid taxes on what we had in it but I have no clue! Since a large portion of the car is donated every year, it is a heck of a deal!
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| xlr8or |
11-14-2007 01:39 PM |
My wife is the office manager for tax office and said the taxes owed should be based on the fair market value of the prize.
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| rdorman |
11-14-2007 01:46 PM |
If you win, I will give you $20 for the car and then you won't have to pay taxes;) :LOL:
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| Thieleng |
11-14-2007 01:49 PM |
As always I like to participate where I can, I just bought 20 tickets and will be buying more, like I said in the past this is for a great cause regardless of the chances of winning a beautiful car.
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| rdorman |
11-14-2007 01:53 PM |
Way to go! I would say you have a 1 in 500 chance at this point! You should see the list of shows this car is going to... it is very agressive. Some big shows to!
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| rob frink |
11-14-2007 01:59 PM |
.............
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| rdorman |
11-14-2007 02:02 PM |
25 cents on the dollar? Count me in!:)
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I just bought 5 tickets. I will be in Ohio around then anyway...so it will be easy to pick up my Cobra.
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| rdorman |
11-15-2007 07:06 AM |
This years winner was here as well. He just had to figure out how to get two cars home! Even if you are not here, no big deal. We can help find a way.
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| Godzila |
11-15-2007 08:06 AM |
Quote:
As always I like to participate where I can, I just bought 20 tickets and will be buying more, like I said in the past this is for a great cause regardless of the chances of winning a beautiful car.
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Thank you Mr Thiel! We always appreciate your great support! |
| Anthony |
06-10-2008 06:29 PM |
I take it that if you buy the tickets on-line, they are automatically entered in the raffle, that is, you don't need to send any paperwork/tickets to be entered in the raffle drawing?
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| rdorman |
06-11-2008 07:15 AM |
Quote:
Originally Posted by Anthony
(Post 850716)
I take it that if you buy the tickets on-line, they are automatically entered in the raffle, that is, you don't need to send any paperwork/tickets to be entered in the raffle drawing?
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That is correct! All the sales go into our database and tickets are printed for the drawing from that database. Need not be present to win! |
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