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New RT rider checking in


sdixit

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Congratulations!! But ya know, that just ain't fair. ARGH! Just kidding. Welcome to the board. You will love your new RT.

KB

P.S. Can you rub some of your magic on me?

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Congratulations Sanjay and welcome to the board clap.gifclap.gif

 

I wish my local dealer would run a sweep like that - as long as it was me that won it grin.gifgrin.gif

 

Andy

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Bill_Walker

Dangit! That was supposed to be my new K-GT! grin.gif

 

 

Congrats on your win, and welcome to the board!

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Wow! Luuckkky! But I guess the IRS is gonna want their cut, huh? dopeslap.gif Oh well, still an awesome deal! ENJOY

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I would be more than happy to pay $1500 tax for a brand new $18K bike. Would anyone else take that deal?
Unless I'm missing something, the bike will be treated as income and as a result the tax liability will be significantly higher than $1500. Still, it's a helluva deal.
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Correct. The amount that I won is treated as income and is taxed. I had to pay sales tax + title. I'll have to show price of the bike as income when filing my taxes.

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Correct. The amount that I won is treated as income and is taxed. I had to pay sales tax + title. I'll have to show price of the bike as income when filing my taxes.

A couple of years ago Oprah Winfrey gave away a Pontiac G6 to every member of her studio audience during one show. It received quite a bit of publicity (deservedly so). But what didn't get as much publicity was the tax ramifications for the winners.

 

If someone would were award me an RT, I would sell cookies, plasma and my next born to pay the tax. wink.gif

 

For a Pontiac? Well, not so much....

 

Congrats again!!!!

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MooseR1100R

At IRS tax time remember your sales tax is deductable. I almost overlooked that break for '06 on my RT tax. There is some satisfaction in that regard.

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ncsonderman
Welcome and congratulations!!

What a great birthday present!

 

You can use the exhaust to blow out the candles!!!

 

Best darn present I could think of.

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Congratulations, Sanjay. Enjoy! thumbsup.gif

 

How about joining us for lunch July 7 at Phil's? See the Ride Planning section.

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At IRS tax time remember your sales tax is deductable. I almost overlooked that break for '06 on my RT tax. There is some satisfaction in that regard.

 

Of course, the value of the "prize RT" itself is considered income, taxable by the feds (and possibly by the state).

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Oops. I forgot about the income tax side of it. I was only thinking about the sales tax. Oh well still a helluva deal for you. Again congratulations.

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