taxes on 100,000

what percentage of that 100,000 would freight dog be lookin at getting taxed?

Taxes are the responsibility of the winner. Meaning he would get a check for $100K. It's his responsibility to claim the winnings on his tax return. If I won the Money.......I would deposit it, wait until it clears and then pay an extra $1K each month on my mortgage. Realistically, you're looking at paying 20K in taxes.

gambling winnings are taxed about 37%

If f-dog provides a ss# he should not have any withheld taxes will be his responability. He might consider going underground and or taking a new idenity.Since these are gambling winnings the tax could be off-set by verifed losses in the same year. Hold all losing tickets from a LEGAL gambling source. Become a sweeper at a racetrack or OTB. There are people that could sell you legal losing tickets 10 cents on the dollar.Off-shore or local guy ain't LEGAL. Vegas or racetrack.

Dammmmm, You guys know all the tricks. Good Luck Dog!!!!!!!!!!!!!!

I don't think this is considered a gambling win. You would have to risk money for that to be the case. This is a free contest. I would find a good accountant who knows about taxes on "no purchase necessary" contest wins. Good luck.

great point downtown

open up a swiss account and cash the check into the account

Good luck fd. The train is full speed ahead towards the 100,000.00.

Good luck fd. The train is full speed ahead towards the 100,000.00.

This is not considered a gambling win, it is prize winnings, therefore it cannot be offset by gamblong losses. Tax liability will depend upon his total other income and where he lives, but it's safe to say about 20-30% or more for fed & state. (yes, I'm an accountant) And if he wins I don't think he'll care, not bad for clicking your mouse. Get 'em dog.

A Trust account here or offshore can completely eliminate taxes,just like Tiger, Jordan and all the wealth mongers do. A Nevada Corporation is one way and there are many tricks used by good Tax Attorneys to completely or close to completely eliminate this burden. Or so they say! LOL

With a Trust account, you have total control over the money, but the money cannot be linked to you in any way. A director is appointed to manage the trust, as in loaning you money for cars, house or whatever or just buying you those things. or so they say again!

3rd and long, he cares, we ALL care. SCREW the govt's sickening greed!!!!!!!!!!!

As a matter of fact, take a look at the Powerball lottery winners on their site. Most of them are Trusts or the winnings were picked up by an Attorney.