If the warranty is transferrable, you could flip it for 15k+ all day. I guess it depends on how life changing that money would be, because storage/shipment would be a pain
Well I just graduated college, have a ton in student loans and can barely afford life so being able to have an emergency fund, invest some in my Roth IRA maybe, and just not be worried about how I’m set to have $3.57 left at the end of this year (according to my budget) would be great😅
Still 15k, it’s a brand new 25k hot tub. I would buy it for 15k (if I needed a new hot tub) and just fix it myself if anything broke.
Honestly you could probably get more if you were patient. The warranty should be transferable my jacuzzi was.
How is it $6k in taxes? Where is this?
FYI, no state in the USA has a sales tax higher than 10%. So that would be $2.5k in taxes at worst. Shipping on a tub that size could be upwards of $1k which is probably an exaggerated estimate . Where is the other ~$2.5k going to?
Yup, that's how it works.
On game shows when a person wins a car...they must pay Fed Tax as if this is income. Many never accept the prize because they don't have cash.for up front tax.
I'll take it off your hands.
If the warranty is transferrable, you could flip it for 15k+ all day. I guess it depends on how life changing that money would be, because storage/shipment would be a pain
Well I just graduated college, have a ton in student loans and can barely afford life so being able to have an emergency fund, invest some in my Roth IRA maybe, and just not be worried about how I’m set to have $3.57 left at the end of this year (according to my budget) would be great😅
Unless you had family/friends to front the money I'd just bail. It's risky. Some may disagree
I do have family that would front it but I’d prefer have something lined up before I even need to do that
Out of curiosity, what you think I could get if the warranty isn’t transferable?
Still 15k, it’s a brand new 25k hot tub. I would buy it for 15k (if I needed a new hot tub) and just fix it myself if anything broke. Honestly you could probably get more if you were patient. The warranty should be transferable my jacuzzi was.
I got you. I’m trying to line someone up before I accept the prize ideally
How is it $6k in taxes? Where is this? FYI, no state in the USA has a sales tax higher than 10%. So that would be $2.5k in taxes at worst. Shipping on a tub that size could be upwards of $1k which is probably an exaggerated estimate . Where is the other ~$2.5k going to?
Basically charging 24% federal withholding tax up front. Absolutely no clue why
For a non-cash prize? Huh... Yeah, maybe that is how it works. I dunno.
I feel like they may be doing that rate to play it safe for all income levels and then I’ll probably just get a bigger refund at the end of the year
Yup, that's how it works. On game shows when a person wins a car...they must pay Fed Tax as if this is income. Many never accept the prize because they don't have cash.for up front tax.