I have a customer who won a 2002 Toyota Tundra V8
Extended Cab, fully loaded. She had to pay a gift tax of something like $6,000 to $8,000 in gift taxes – I can’t recall exactly how much. This lady received a $5.00 raffle ticket as a birthday present from her daughter (raffle was church sponsored).
When I was in college, a 19-year old classmate won 5 Million Dollars in the Texas Lottery. She picked the 20 annual payment option. I am sure her tax bracket jumped several levels. (Oh, BTW - she drove a Blue Chevy Silverado, no MB
Sleekjet, are those junkets Timeshare sales pitches?
"Wouldn't your boss like to fly home nonstop at 4:30 on a Friday afternoon?" -Airline Exec to Congressional Staffer