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RE: Question from a Brit to any Y... umm American - 8/18/2008 8:30:49 AM
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manda59
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Where did Roberta mention it, agapetos?
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mvic, January 2009
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RE: Question from a Brit to any Y... umm American - 8/18/2008 8:32:46 AM
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lexie
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Roberta mentioned it in the Women's Chat Thread I believe...and even though I read it, I was beginning to wonder if she was ever coming back to us!
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RE: Question from a Brit to any Y... umm American - 8/18/2008 8:33:56 AM
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lexie
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Question from a Canadian to an American....
You guys have to pay taxes on EVERYTHING you win??? I was reading an article last night and this woman mentioned that she had won 100,000 air miles in a contest, and the IRS made her pay $1000 on them. That actually happens?
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RE: Question from a Brit to any Y... umm American - 8/18/2008 8:34:11 AM
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manda59
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Oh I never rarely if ever go there, no wonder I didn't know.
ETA: I just went and looked there and it's not even there, lol. Ah well. It's academic now!
ETA2: Located where it is. Thanks agapetos!
< Message edited by manda59 -- 8/18/2008 8:50:18 AM >
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mvic, January 2009
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RE: Question from a Brit to any Y... umm American - 8/18/2008 9:57:42 AM
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lexie
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quote:
Lexie ~ Canadians are in line for another medal ~ gold or silver. They're in a jump-off (show jumping) with the Yanks.
I'm watching it right now!
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RE: Question from a Brit to any Y... umm American - 8/18/2008 10:03:21 AM
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Miss Giggles
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The IRS taxes all income, so yes you are taxed on prize money, lotto winnings, income from foreign countries, etc. the only exception might be an inheritance.
So yes if you enter a contest and win a car (say 25,000) then you get a little nifty form that says 25000 was reported to the IRS and you had better put that on your return
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RE: Question from a Brit to any Y... umm American - 8/18/2008 10:05:14 AM
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lexie
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That's interesting...I knew you got taxed on money but I didn't realize on items. When this lady said she owed $1000 on 100,000 air miles it seemed it was probably easier to just buy the plane ticket yourself!
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RE: Question from a Brit to any Y... umm American - 8/18/2008 10:09:10 AM
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Miss Giggles
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I think you are taxed on the cash value of the item.
Yeah that's why Oprah got some bad press when she gave all those people a new car on her one show a view years back and most of them couldn't afford to come up with a few thousand dollars in taxes so they had to sell them.
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RE: Question from a Brit to any Y... umm American - 8/18/2008 10:10:06 AM
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agapetos
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quote:
the only exception might be an inheritance. You don't pay inheritance tax?
Wow.
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RE: Question from a Brit to any Y... umm American - 8/18/2008 10:10:56 AM
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Miss Giggles
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I am not sure if we do or not currently, it is one of the things the politicians keep bringing back and eliminating depending on whose in office. Plus its something you would need an accountant for to handle on your taxes since our taxes get pretty complicated if you have a substantial amount of money involved.
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RE: Question from a Brit to any Y... umm American - 8/18/2008 10:44:56 AM
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agapetos
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Sometimes it's conditions and events. I know there are Australian riders who are based in Europe because there are more competitions in Europe and it's a good base to go to the US or back to Australia for competitions.
Remember, they're not getting the training for free. They'll have to pay for it.
Does it make sense? Well maybe not. But don't you really want to know that your runner or swimmer or whatever is the best in the world, not the best because they happen to have the best trainer?
The athletes are buying a service. I'm pretty sure that many of them really would rather live and train in their own country with family, friends and their own supporters than live 1,000's of miles away in a strange place.
And in return ~ your eventing trainer was Mark Philips. He's a Brit. Why did the Americans feel the need to get a Brit in to train them? I know that happens in other sports too, not just eventing or with the US, but it's the only one I can think of right now ~ probably because I love eventing and I found it weird the US got the father of someone they'd probably be competing (but didn't this time round) against to train them! Talk about conflict of interest.
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RE: Question from a Brit to any Y... umm American - 8/18/2008 10:48:18 AM
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Miss Giggles
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I don't think they are paying, at least in the US they are being sponsored by companies like Speedo, Nike, etc. If they win they get prize money. Obviously if they quit being a star then they'll get dropped.
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RE: Question from a Brit to any Y... umm American - 8/18/2008 10:50:05 AM
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HisCovenant
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I've thought about the trainer side, too. The American Gymnists have two international trainers that I know of... I'm not sure of their citizenship, but they weren't born here. Where they are born doesn't enter into my original question... I was thinking of citizenship and not race or birth place.
The buying a service idea and having more competitions to gain experience idea are two facts I hadn't thought of. Thanks, Aga!
The thing I had thought of was weather conditions in outdoor sports. I mean someone living close to the equator would need to move to a colder, snowy climate to train for winter sports, and visa versa. I couldn't really come up with any reasoning for the indoor sports, though.
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RE: Question from a Brit to any Y... umm American - 8/18/2008 11:06:00 AM
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lexie
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quote:
You can't force citizenship on someone. Maybe they don't mind living and working somewhere for part of their lives, but they want to go 'home' eventually.
I think that's something that those of who haven't gone through the emigration process also don't think of. Just because citizenship is available after a certain number of years doesn't mean people don't want to take it right away. My husband has been here for 20 years but didn't get his citizenship until he had been here for about 12 or 13 years. Some of his siblings and his father just got theirs. Also, some countries don't allow you to have dual citizenship and not everyone wants to give up citizenship in their home country.
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RE: Question from a Brit to any Y... umm American - 8/18/2008 11:40:42 AM
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manda59
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That seems totally weird to me - to be taxed on prize money. Thankfully, even with our tax being as high as it is generally, we don't get taxed on prizes/winnings here in the UK.
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RE: Question from a Brit to any Y... umm American - 8/18/2008 12:08:29 PM
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Mrs.X
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Roberta, where in the foothills does your mom live? My grandma lives just outside of Twain Harte.
quote:
ORIGINAL: manda59
That seems totally weird to me - to be taxed on prize money. Thankfully, even with our tax being as high as it is generally, we don't get taxed on prizes/winnings here in the UK.
We don't get taxed on gambling winnings or prize money that is less than a certain amount. I think it's $1000 or less. I think that's what I remember the cashier at the casino told me.
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RE: Question from a Brit to any Y... umm American - 8/18/2008 12:37:34 PM
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Miss Giggles
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Aga, you think that the atheletes are paying for their training. I don't think they are, the sponsoring companies are paying in return for advertising and promotions. But I could be wrong.
You don't get a 1099 for that amount. Technically you're supposed to claim it.
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RE: Question from a Brit to any Y... umm American - 8/18/2008 12:38:23 PM
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Mrs.X
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Oh oops. If I were to get audited, could I get in trouble?
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From Sweet Grass to the Packin' House
A soft answer turneth away wrath: but grievous words stir up anger. -Proverbs 15:1
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Apparently we've upset the Aussie cyclists a bit who want a gold in that sport!
) why is it fair for you to represent another country? I want to feel more generous about this, but am not sure why this is acceptable and how it makes sense. I know it goes on in Canada in ice skating, and figure it's probably going on in the UK and Australia, too, in all sorts of sports.
