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    View Poll Results: Vote the ticket price you would purchase

    Voters
    115. You may not vote on this poll
    • I would buy a $100 raffle ticket

      63 54.78%
    • I would buy a $50 raffle ticket

      40 34.78%
    • I would buy $150 in raffle tickets

      3 2.61%
    • I would buy $200 in raffle tickets

      4 3.48%
    • I would buy $250 in raffle tickets

      1 0.87%
    • I would buy $300 in raffle tickets

      2 1.74%
    • I would buy $350 in raffle tickets

      0 0%
    • I would buy $400 in raffle tickets

      2 1.74%
    Results 41 to 60 of 80

    Threaded View

    1. #10
      Join Date
      Jul 2005
      Location
      Mountain View, CA
      Posts
      9,583
      Country Flag: United States
      Quote Originally Posted by Steve1969LS1
      Same as on Overhauling..

      You have to pay tax on the winnings just like you hit the lotto. You could work the labor as "donated" but the winner would still be responsible for IRS taxes on the value of the car/parts plus local taxes and license..

      Still, it's pretty cheap for a PT car..

      I don't know of a way around the IRS deal but I am not a tax guy.

      We could get around the tax dealio by merely stating on the registration transfer that the car was purchased for $100 (or whatever the ticket price winds up being).
      Those who donate parts $ services can write off the cost as promotional expenses.

      Last edited by Larry Callahan; 08-25-2005 at 05:13 PM.





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