Ferrari Mailing List: Re: You'll never guess what's happening in my 'hood...

[JAshburne (JAshburne]

I would bet that the show gives them a cash payment to cover the taxes on  
the "income", also grossed up to cover the taxes on the cash gift.
 
 
In a message dated 9/28/2007 9:49:03 A.M. Central Daylight Time,  
racertod [at] racertodd.com writes:

Paul  wrote:

>Todd...what was/is the address?  I'd like to zillow it  for the 'before' 
>values.

In  our crazy housing market, it's at $663K according to 
Zillow.  The  county valuation is $516K.  They get a free house, but their 
property  taxes will probably jump from $4k a year to $6K.  I wonder if you  
have to report the value of the "prize" to the Infernal Revenue Service  and 
pay income taxes on it?  I mean, if you win a car in a contest,  you get a 
1099 or something that has to get reported.   Hmmmm.

>Also, let us know when the program airs.   I've  never watched the show but
>will be interesting what Hollywood does to  recreate a piece of Kirkland.

They  say sometime in January, no idea which date.  Have to keep an 
eye on  their website for info...


Todd
Seattle,WA
'86 GTI, Red of  course. (exciting racey car)  265,000 miles
'87 Golf, Polar Silver.  (boring work car)     628,000 miles <- Yeah,  baby!
http://www.pureluckdesign.com <-Ferrari & VW  stu


 



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