It's Back-January Trip-A-Day Contest!

[cristen72]

I suppose even a trip that is won can be turned into a "budget" trip. We would drive so no airfare for us. And if you chose to stay in a value resort then your "retail value" would be considerably less. Taking those 2 things into consideration would significantly lessen your taxes due.

 

[Jennasis]

I entered, but I'm not sure what I'd do if we actually won. We just bought DVC and have a trip planned for December. It's hard to take multiple trips for us as we own a business. I suppose we could always use the contest as our trip this year and bank all our points for a mega trip next year...

 

[kccne]

I entered, but I'm not sure what I'd do if we actually won. We just bought DVC and have a trip planned for December. It's hard to take multiple trips for us as we own a business. I suppose we could always use the contest as our trip this year and bank all our points for a mega trip next year...

I can take it off your hands

 

[3PrincessesAndaFrog]

I suppose even a trip that is won can be turned into a "budget" trip. We would drive so no airfare for us. And if you chose to stay in a value resort then your "retail value" would be considerably less. Taking those 2 things into consideration would significantly lessen your taxes due.

I would definitely ask if you could do budget and how it would effect tax implications.

A $7000 trip at:

35% * $7000= $2450 taxes
25% * $7000= $1750 taxes

vs $3000 dollar trip

35% * 3000 = 1050 taxes
25% * 3000 = 750 taxes

I hope I did that correctly! Let me know if I didn't!

 

[PlutosBone17]

Can't wait to get my 1099 from Disney!

 

[MickeyMinnie1971]

"Approximate Retail Value (“ARV&#148: US$7,181.40, which will vary depending upon point of departure and seasonal fluctuation of hotel rates and airfares." The Official Rules state the above...so it looks like depending on where you fly from and what hotel is selected the above could change. But since it is a prize package, I "googled" it and it said it would be considered additional income. So you may want to adjust your tax withholding when you win to compensate for the extra income so you are not penalized for not withholding enough. Also, someone mentioned "Actual Value" based on discounts Disney offers....it does say will depend on "fluctuation of rates" so I expect Disney will issue the 1099 with Actual Value and you can keep track when you make reservations to ensure Fair Market....

We won a trip back in 1996. The amount on the 1099 ended up being a little less than was initially stated. I'm sure it varied based on when we chose to take the trip and such. We didn't get to use a lot of the stuff that came with the trip (golf, boat rentals, etc). It was impossible to squeeze it all in. It did hurt a little at tax time. It worked out well for us though because we had a child born in December that year and gained a tax deduction.

 

[bocaj1431]

I can't seem to log into my acct..... not sure why?

I had the same problem and eventually had to change my password.

 

[bocaj1431]

Ahhh. I think I entered twice today by accident. I can't remember if I entered last night before I fell asleep (after midnight). I think I did. I didn't want to miss out though and so I tried again thinking it would tell me I can't enter again if I did for the day.. And it let me. I don't want to break the rules! Anyone know if I entered twice if it would tell me? I'm not loving the way to enter as much this year since I feel like I'm not sure I entered correctly each day! Stress!

I did the sane exact thing for the same reason.

 

[speedo]

Does anyone know,what happens if a passholder wins? Do they forfeit the park tickets? I personally would still want them especially if they don't expire!

I am a passholder and really hoping to win for the night in the castle! If I win I was thinking of planning the trip for when my pass expires and using the tickets toward the price of my annual pass, by upgrading the ticket to an annual pass. No idea if that would work or not, but thought it would be worth the try! But I am dreaming anyway - already planning to win without having actually won yet!

 

[audrey2580]

Can't wait to get my 1099 from Disney!

Ha ha me too. I've won a few trips and large prizes over the years (no disney though) and it always seems to be about 30% in taxes. The good thing is you would have until April 2016 to pay it

 

[audrey2580]

I am a passholder and really hoping to win for the night in the castle! If I win I was thinking of planning the trip for when my pass expires and using the tickets toward the price of my annual pass, by upgrading the ticket to an annual pass. No idea if that would work or not, but thought it would be worth the try! But I am dreaming anyway - already planning to win without having actually won yet!

Good idea but, usually comped tickets say that you cannot upgrade them and they have no "value".

 

[sweetnsour]

Ha ha me too. I've won a few trips and large prizes over the years (no disney though) and it always seems to be about 30% in taxes. The good thing is you would have until April 2016 to pay it

Okay don't judge me I'm not good at math lol. Approximately how much would we be paying on taxes if one were to win this exact trip??TIA

 

[Turk February]

Okay don't judge me I'm not good at math lol. Approximately how much would we be paying on taxes if one were to win this exact trip??TIA

30% of $7000 would be $2100 so roughly somewhere around that number. This is absolutely something that certain people need to keep in mind before entering high value contests.

 

[Melany502]

If you win do you have to take the trip during a certain time? Could you take it in 2016?

 

[vicky33006]

It will not tell you that you already entered! I wish it did! I accidentally entered twice on the first day (trying to figure out the issues we were all experiencing!) It let me enter though. Wondering if they automatically eliminate anyone who has double (or more) entries!

I'm worried they do that too! I'll just have to be really careful from here on out. I don't want to disqualify myself!

 

[loveshak22]

If you win do you have to take the trip during a certain time? Could you take it in 2016?

The rules say you have to take the trip by Jan 31 2016

Wonder if they will start calling/emailing winners tomorrow??!! I would imagine they have not called winners from January 1-4 yet!!

 

[RejoyceoverDisney]

So I know this is going to make me sound crazy..as crazy as only you other dis fans would understand...I have a desk calendar and in order to make sure I enter daily (and only once) I enter...then I put an X over the date...its right next to my computer.

I've scheduled it into my google calendar and have been getting a notice before bed to register so been waiting until after midnight and entering.
But now there was one day that I was playing with it because of the issues that you all have mentioned and yup think I did enter twice that day. grrrr

Anyway, what I'm going to do now is after I enter, I will remove the reminder from my calendar. I hope that messing up one day doesn't mess up my month.
Oh well I can't worry and if I have a pixie dust win....yipeee

 

[qa4ever]

Are there any trip reports from winners from previous years?

I read the boo to you one from the lady who won the delta contest, but looking for others!

 

[wendow]

Does anyone know,what happens if a passholder wins? Do they forfeit the park tickets? I personally would still want them especially if they don't expire!

If you cannot use the park tickets, they give you an additional night or two at the resort. At least that is what happened with my aunt and another winner from last year.

 

[wendow]

Good idea but, usually comped tickets say that you cannot upgrade them and they have no "value".

This is true for the tickets won. We were not able to add days to them.