Quote:
Originally Posted by Joe Wicked
I was just thinking about the winning and how much money I would have to have, it would suck to win the car and have to sell it to be able to pay the taxes. I would not be a happy camper to say the least. Just the whole raffle thing got me thinking and wondering how it all worked so I asked.
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I am with you on this bro. I bought some tickets last year for a Lone Star Cobra that was raffled in your fair state, and regardless of how long the odds are of winning I went through these same mental gymnastics. The thought of stroking a check for $10K in advance just to cover Federal withholdings tends to dampen the excitement. I think there are probably some different ways to skin that cat and still get square with the IRS in the end.