Discussion in 'FREE Hunts & Giveaways' started by Wintershoek Safaris, Sep 24, 2011.
I missed this somehow, glad the winners were posted.
Guess i didn't win the hunt, but I did win a sweatshirt. Brian
Well thats one sweatshirt more than I won! Wear it well!
Congrats Brian I'm Glad at less 1 AH member won something.
Johnny its well pass July how about a sneak preveiw of how the hunt went.
i know im way late the train has left the station . but why would you have to pay tax on a hunting trip that you won in a competition ?????
Bluey here in the state if you win just about anything of Value i.e. Lottery, High dollar hunts, cars/trucks the Goverment wants their share, the doners will probably get to write it of their taxes as a donation but the winner must pay taxes on its value its still cheaper then buying the hunt but as they said in the old days Gas, Grass or A$# no one rides for free.
yeah o.k ...strange
thanks bob,i can see the tax advantage of being charitable but doesnt encourage the avaerage joe to enter comps .
what percent do want or shoud i say take?
Now that part I'm not real sure as I have never been lucky enough to win one, but I heard in cases like the lottery up to 35 percent and I've read that for contest the value is added to your yearly wages and you pay taxes as to your tax bracket but again not real sure.
Usually with federal & state taxes added, depending on what state you reside in it could be from 35% to 55% of the total amount won...
The total taxes usually depend on the won amount won added to your yearly income...
Then there is income averaging if your tax accountant thinks it would lower your total amount owed..
thanks both bob and james ,thats a big slice of the pie isnt it .
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