New Celebrity Contest !

[gf42]

The post was not meant to complain or be negative. Just know what to expect and there are no surprises. Good Luck to everyone.

[cruiserlove]

Thanks Andy!

 

 

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[eastsider57]

Thanks Andy!!!!!! Good Luck to all!!!!!

[fshagan]

sorry to late to edit. The taxes will be much cheaper than $2000. I thought I saw the grand prize was valued at $10,000.

 

Just entered the contest, and I'll gladly pay the income taxes if I win!

 

They could be high for some people. Americans can pay up to 38% - 40% depending on their income, so some people could owe up to $4,000 for the prize or just over $4,100 if they live in a high tax state. When you are in that bracket it sometimes is cheaper just to pay for things than win them, as the prize is almost always stated at full list price and the same thing can be bought on sale for 50 - 60% off.

 

I am not in that bracket, and like most Americans, my marginal rate falls in the range of 15% to 25% if I'm having a good year. So it's still a good deal for me ... unfortunately! :) :) :( :(

[dandee2]

Bonus to be Canadian. We don't pay income taxes on lottery or contest. :-)

 

Cheers!