Should Obama put a heavy tax on all the awards that his rich buddies in show business keep getting also, along with the tax on our Olympians??
hazel
2012/08/06 04:59:33
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Obamas uber rich friends in show business make so much money ,then they are given awards for their talent.....Should. the awards they get be taxed as well?
Course we all pay to much in taxes....all Washington knows how to do is spend, spend and spend! All the while they fill their pockets!
Oh, and you need to pay up on that NOBEL PRIZE you were given!!!
Oh, what's that, YOU and your administration/buddies are EXEMPT from all that too.....hmmm, just what I thought.
Olympians worked their ass for their medal and money yes, but like any workers around any country. It's not because they do it in front of a tv that they worked more than factory workers
All wealthy should pay taxes.
Ferrel should be taxed for every day he opens his mouth!! Can't stand him!
So I guess the question is, if you want to exempt the prize money that so-called amateurs win in the Olympics, why are you singling out people in Hollywood, who already do pay those taxes?
"Think you're pretty lucky because you won $1,000 in a radio contest? Uncle Sam is even luckier. He's due part of your winnings.
Prize winnings are included in the long list of "other" income that the tax law says is taxable. And it's not just limited to cash awards. You've got to pay taxes on the fair market value of any property you win. So get ready to come up with some cash for Uncle Sam to cover that new Corvette the local Chevrolet dealership presented to you as part of its latest promotional contest.
Be careful when reporting the amount of a noncash prize. In most cases, companies and groups that award prizes, both cash and property, will send you a 1099 form declaring the value of what you won. If your tax return reports substantially less than what the giver claims, your under-reporting could mean a long, hard look from an IRS auditor.
But don't cheat yourself, either. It's not inconceivable for a prize presenter to over value a gift. If you find yourself in this situation, it is possible to do your tax duty without paying too much. This column from Bankrate's tax expert tells you how.
And don't forget about gambling proceeds. They're taxable, too, but at ...
"Think you're pretty lucky because you won $1,000 in a radio contest? Uncle Sam is even luckier. He's due part of your winnings.
Prize winnings are included in the long list of "other" income that the tax law says is taxable. And it's not just limited to cash awards. You've got to pay taxes on the fair market value of any property you win. So get ready to come up with some cash for Uncle Sam to cover that new Corvette the local Chevrolet dealership presented to you as part of its latest promotional contest.
Be careful when reporting the amount of a noncash prize. In most cases, companies and groups that award prizes, both cash and property, will send you a 1099 form declaring the value of what you won. If your tax return reports substantially less than what the giver claims, your under-reporting could mean a long, hard look from an IRS auditor.
But don't cheat yourself, either. It's not inconceivable for a prize presenter to over value a gift. If you find yourself in this situation, it is possible to do your tax duty without paying too much. This column from Bankrate's tax expert tells you how.
And don't forget about gambling proceeds. They're taxable, too, but at least you get the chance to reduce the tax bite here by subtracting any betting losses from your winnings."
http://www.bankrate.com/brm/i...
And as far as argueing about the color of the sky and whether water is wet or dry, I will leave that to you. You are so good at it!!!
how is HE taxing olympians as opposed to the government since He cant tax anyone without the approval of congress
second
the medals won in the olypics is NOT taxed has NEVER been taxed and never WILL be taxed
lastly, his "rich buddies" do pay taxes and they pay the same tax as applicable by the laws
O'boob'arama's sycophantic, symbiotic relationship with his showbiz mouthpieces enables him free publicity while the Governement of the day fails to continue to fine tune the many loopholes that allow tax evasion in this sector. One party may introduce a tax at any given time, it is up to successive governments to align Laws with financial/social/legal etc imperatives. Liberals need to open their eyes & realize the country's continuing decline is not because Obama is 'the black man' it's cuz he's the economically incompetent man!