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Father-In-Law Had A Big Weekend
nunn
Forums Admins, Member, Moderator Posts: 36,085 ******
My father-in-law, Bill Keath, was fishing in the big McDonald's bass tournament on Lake Fork. He won the grand prize with a 12.54 pound bass he caught on Saturday.
His prizes?
$1,200 cash.
New Dodge pickup.
New Triton boat with Johnson motor and trailer.
New Polaris 4-wheeler.
New camping trailer.
Totaling just over $59,000.00. Not a bad weekend's work.
See the results here:
http://www.sealyoutdoors.com/mcfork results 2.htm
Pictures and story here:
http://www.sealyoutdoors.com/mc press release 2002.htm
SIG pistol armorer/FFL Dealer/Full time Peace Officer, Moderator of General Discussion Board on Gunbroker. Visit www.gunbroker.com, the best gun auction site on the Net! Email davidnunn@texoma.net
Edited by - nunn on 09/22/2002 22:41:14
His prizes?
$1,200 cash.
New Dodge pickup.
New Triton boat with Johnson motor and trailer.
New Polaris 4-wheeler.
New camping trailer.
Totaling just over $59,000.00. Not a bad weekend's work.
See the results here:
http://www.sealyoutdoors.com/mcfork results 2.htm
Pictures and story here:
http://www.sealyoutdoors.com/mc press release 2002.htm
SIG pistol armorer/FFL Dealer/Full time Peace Officer, Moderator of General Discussion Board on Gunbroker. Visit www.gunbroker.com, the best gun auction site on the Net! Email davidnunn@texoma.net
Edited by - nunn on 09/22/2002 22:41:14
Comments
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SIG pistol armorer/FFL Dealer/Full time Peace Officer, Moderator of General Discussion Board on Gunbroker. Visit www.gunbroker.com, the best gun auction site on the Net! Email davidnunn@texoma.net
Just curious, what's the tax on winnings like that? I remember a long time gao thinking about how I'd love to be one of those folks on a game show that won a brand new Corvette, but someone mentioned there being like a 30+% tax on something like that.
A 30% tax on winning $59,000 of stuff would be about $17,700 in taxes. I'd LOVE to have won it, but would hate to have to sell the truck to pay for everything
Larry
Lil' Stinker's Opinion
Edited by - BlackRoses on 09/22/2002 23:26:03
Those people who see nothing but grey areas, no black and white, are lost in the fog.
If you will blame gun makers for every shooting then blame car maker for every car accident.
There is a sales tax on vehicles in Texas. It is due on the value of the vehicle. You win one, you pay sales tax.
The tax collection types are going to get theirs, don't you worry.
Bill gave his fishing partner the boat. He is keeping the 4-wheeler and trailer, and selling the Dodge to pay the taxes.
SIG pistol armorer/FFL Dealer/Full time Peace Officer, Moderator of General Discussion Board on Gunbroker. Visit www.gunbroker.com, the best gun auction site on the Net! Email davidnunn@texoma.net
Guns only have two enemies: Rust and Liberals....
To Hell with the Stuff!...
He caught a 12.5 pound bass!!
Good for him, don't sell or give away all that stuff yet, go see an accountant. I suspect that this isn't his first tournament and there will be a lot to deduct from previous unsuccessful trips that there might not be as much taxes as you think.
They can treat this as a business and do some income averaging for his schedule C Bass Fishing enterprise.
KC
Sounds like a heck of a retirement plan, though....
Rugster
Toujours Pret
Edited by - Rugster on 09/24/2002 10:47:58