I love this home and would dream of winning it too. Just some curious questions though. Does anyone know how much the taxes up front need to be paid to the IRS on April 15, 2015? How much are the property taxes annually. Is there a cash option available instead of taking the home? I apologize if these questions have been answered but I have not noticed. Thank you for the information. Good luck everyone! murphman
If you read the sweepstakes official rules, it does have a lower value cash option in lieu of accepting the home portion of the prize.
I keep checking but don't see any posts/topic info yet with potential financial costs discussed here?
In the past, there were posts providing discussion of estimated tax costs, examples of keeping the home, taking cash, selling the home, etc. I appreciated reading these threads, so...if you were one of these poster(s) or, are willing to share expertise/knowledge, please post.
Thank you much in advance!
If you can dream it, you can do it. (Walt Disney)
Let's keep the *real* threads up top.
We're goin' on a Bear Hunt.
We're going to catch a Big One
I'm not afraid!
I'm curious too! I think I've read that the CPA that was on the boards in the past isn't here anymore...
Maybe some one will come along who knows the finances better.
Fed tax is around 34% on this amount, but it is a varied amount for different levels of the amount.
State tax is around 10% in California.
Then their is home owners policy insurance
A fee for living in the area the house is in, etc
*****Catch the Excitement*****
******Dreams and happiness to all my MB friends******
~ ~ ♥ ~ ~♥ ~ ~♥~~♥~~♥~~♥
a flapjaw and a Sheltie collector avatar fan
Real Friends Believe in Your Dreams
|Powered by Social Strata|