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Rockets Pride is offline Old 04-18-2011, 12:41 PM
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Everyone knows you're going to get hit with a hefty tax bill when you go on "The Price Is Right" and win a Corvette, a living room set and a trip to Aruba in the Showcase Showdown.

Same goes for the cash you take home after playing hangman with Pat Sajak and Vanna White on "Wheel of Fortune."

But getting issued a 1099 form and taking a $237 tax hit after winning over 300 coupons for free donuts and coffee on fan appreciation day at a Houston Astros game?

Well, that's about as unpleasant of a surprise as tasting a chocolate creme filling when you were expecting Bavarian:

Yet that — and presumably thousands of empty hidden calories — were the hidden costs for Bob Choate. As the Houston Chronicle reports, the Astros fan thought he had hit a jelly-filled jackpot when he won 315 coupons for a free coffee and doughnut at Shipley Do-Nuts last season. But the prize was estimated by the team and chain to be worth $927.61 — or about $3 a coupon. And that led to them requiring a 1099 tax form to be issue because it was above the $600 threshold.

Choate thought the doughnuts and coffee were not worth that much — presumably because there's no way anyone could ever cash in 315 coupons and live to tell about it — and said so. After getting no relief from the Astros, doughnut baron Lawrence Shipley agreed to cover the tax on his goods.

From the Houston Chronicle:

Choate said he's made the exchange with the Astros and Shipley a lesson for his kids.

"I told them that if you think something isn't the way it should be, speak up and be professional and reasonable and diplomatic," he said. "And, if you're on the other side of the table, you should listen."

But before you start thinking that Choate is a chronic complainer who's only looking for a free ride — or 26 free dozen doughnuts — know this: He was so impressed by the doughnut chain's gesture that he says he's going to donate $237 to Shipley's favorite charity. I'll dunk a cruller to that.

http://sports.yahoo.com/mlb/blog/big...urn=mlb-wp3695
 
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Qball is offline Old 04-18-2011, 01:06 PM
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To make it worse, I bet the coupons "worth" $3 a pop have fuzzy lil words at font size 2 stating "Coupon is worth 1/100 of a cent".

Poor guy.
 
weslinder is offline Old 04-18-2011, 01:07 PM
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I know a man named Bob Choate, who would fight a tax like this, and checked the article to see if it was him. Alas, it's not.

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Quote:
Originally Posted by OremLK View Post
Guys, this is not a reliable journalistic source. Hold off on the torches and pitchforks. Who the hell even is Jeff Balke? Never heard of him. Houstonpress.com is also just a blog, not a credible source.
 
TheChosenOne is offline Old 04-18-2011, 04:05 PM
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$3/a pop my ass.
 
msn is offline Old 04-18-2011, 04:10 PM
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wait you're offering people to do *what* for just $3??

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DonnyMost is offline Old 04-18-2011, 04:12 PM
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It's really stupid that stuff you win out of random chance, especially material goods, is considered taxable income.

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In the beginning the Universe was created. This has made a lot of people very angry and has been widely regarded as a bad move.

"The reality is, if you want to win the title, you have to be the team that finds the Chandler Parsons'... not the [team] who gives the Chandler Parsons' max contracts."
 
JJ is offline Old 04-19-2011, 11:20 AM
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Quote:
Originally Posted by msn View Post
wait you're offering people to do *what* for just $3??
Ha, Ha! I read it and thought the same thing.
 
wekko368 is offline Old 04-20-2011, 04:54 PM
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Quote:
Originally Posted by MSN Money
It doesn't get much better than winning 315 coupons for the local doughnut shop, each good for a free doughnut and coffee.

That is, until you have to pay taxes on the prize.

This happened to Bob Choate, who won the coupons at a 2010 Houston Astros Fan Appreciation Day. Bottom line: Being the lucky winner reduced his tax refund by $237.

"Well, that's about as unpleasant of a surprise as tasting a chocolate creme filling when you were expecting Bavarian," wrote "Rockets Pride" at ClutchFans.
http://money.msn.com/taxes/article.a...4eab&GT1=33029
 
DieHard Rocket is offline Old 04-20-2011, 05:05 PM
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Quote:
Originally Posted by wekko368 View Post


No way did Karen Datko just use a quote from a message board moniker that wasn't even an original quote. Talk about sloppy writing. Ha!

What would have been even greater is if FFB started this thread, or Master Baiter. "...wrote "Fatty Fat Bastard" at Clutchfans" :D
 
Cannonball is online now Old 04-20-2011, 07:01 PM
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Quote:
Originally Posted by wekko368 View Post
I guess Karen was too dim to realize the whole post was the Yahoo article.

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DonnyMost is offline Old 04-20-2011, 07:38 PM
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Quote:
Originally Posted by wekko368 View Post
Wtf...

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In the beginning the Universe was created. This has made a lot of people very angry and has been widely regarded as a bad move.

"The reality is, if you want to win the title, you have to be the team that finds the Chandler Parsons'... not the [team] who gives the Chandler Parsons' max contracts."
 
david_rocket is offline Old 04-20-2011, 10:29 PM
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Quote:
Originally Posted by DieHard Rocket View Post


No way did Karen Datko just use a quote from a message board moniker that wasn't even an original quote. Talk about sloppy writing. Ha!

What would have been even greater is if FFB started this thread, or Master Baiter. "...wrote "Fatty Fat Bastard" at Clutchfans" :D
or what about if tinywang started the thread, it would be "tinywang" at Clutchfans. but "Master Baiter" would be very funny HAHA

and why she didnt look for the original source? (the yahoo article)
a writer should look for the original source instead something on a messageboard

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TexasFight is offline Old 04-21-2011, 09:08 AM
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What doesn't make sense to me is that Lawrence Shipley's agreement to pay the tax bill of $237 counts as taxable income for Bob Choate... and he should have to pay tax on that amount as well...

Its not like Shipley is filing his 1040 on Choate's behalf... Choate still has to pay the $237 in addition to any other tax he owes - so Shipley has to "gift" the money to Choate - and gifts count as taxable income.

I've never understood how they get around the tax situation when things like this happen and someone "generously offers" to "cover the taxes" for a prize... the receiver has to pay tax on the offer too.
 
Cannonball is online now Old 04-21-2011, 09:28 AM
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Quote:
Originally Posted by TexasFight View Post
I've never understood how they get around the tax situation when things like this happen and someone "generously offers" to "cover the taxes" for a prize... the receiver has to pay tax on the offer too.
I don't know about this situation, but I've seen cash included with prizes that would cover the taxes on the entire prize package, including the cash.

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TexasFight is offline Old 04-21-2011, 09:57 AM
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Quote:
Originally Posted by Cannonball View Post
I don't know about this situation, but I've seen cash included with prizes that would cover the taxes on the entire prize package, including the cash.
See, now THAT makes sense... include enough cash in the original package to pay the tax for the prizes AND the cash... but I feel like that never happens.

unless maybe the person offering to cover the tax always gives additional cash to cover the original tax as well as the tax on the cash given? i guess that might be the answer here.
 
Rockets Pride is offline Old 04-21-2011, 04:57 PM
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I AM THE SMARTEST MAN ALIVE!!!!!!!!!!!!!!!!!!!!!
 

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