My Parents Won Points on the DVC Cruise - Need Help

[Olaf]

Please keep all these things in mind next November when you decide who you want making tax policy!

Amen.

OP, please let us know how this turns out.

 

[Madi100]

Thank you for your post. I am hoping Disney is paying the tax (who wouldn't). I don't know how the announcement or the listing of prizes was listed. I already told my mom that dad may have to pay tax's come April <gulp>. She is keeping mum because it would spoil my dad's entire trip (and hers too).

I spoke to them this morning and it was raining last night and a bit this morning. My dad went to do some weights in the exercise room. He knows how flabby he is. They are right now heading to the Magic Kingdom. For my mom and I we are truly not at Disney until we go to the Magic Kingdom. I was there at the end of Sept - beginning of October and the Magic Kingdom had orange bunting which made MK more beautiful. In fact I think this is the best decoration I have ever seen at MK. Now I really can't wait for my December trip with my mom. It will be her 65 birthday and I am paying a lot to go all out for her. Unfortunately come the new year I am going to have a heart attack when my credit card bill comes in. I am being like Scarlet O'Hara - I'll think about it tomorrow.

Also, if this is the contract for actual points and not just one trip, the dues are paid for them, too.

 

[TLSnell1981]

Please keep all these things in mind next November when you decide who you want making tax policy!

DITTO. It was tried years ago to have a one time exemption for prize winners.....but it was voted down

 

[nunzia]

Back to the Year of a Million dreams..The fine print for winning an SSR gives you alot of cash..and stated the prize was worth something like $84,000.

 

[paulh]

feel for you folks as if we win anything over here in the uk its tax free.If i win lotery on wednesday nights rollover of £11 million ($22 million) thats wat i would get.we only then pay tax on intrest after and not on the capital amount.
Paulh

 

[disneyokw]

feel for you folks as if we win anything over here in the uk its tax free.If i win lotery on wednesday nights rollover of £11 million ($22 million) thats wat i would get.we only then pay tax on intrest after and not on the capital amount.
Paulh

I like that concept. Good luck on winning. Here in America we have to cough up a lung to pay tax upon tax upon tax.

I'll keep posted on what happens with taxes and what and how soon we hear from Disney. It is good to know for all of us just in case we want to win something.

 

[cherylp3]

Regarding pictures I was at the Tuesday show and they only had ppl stand up from where they were sitting. As for taxes, I know Mark and Mary won an II trip on SSMC2006 - try asking on the SSMC2007 thread http://www.disboards.com/showthread.php?t=1291348&page=195

 

[dianeschlicht]

feel for you folks as if we win anything over here in the uk its tax free.If i win lotery on wednesday nights rollover of £11 million ($22 million) thats wat i would get.we only then pay tax on intrest after and not on the capital amount.
Paulh

Yes, and isn't it funny that we first sought independence from the British throne to AVOID high taxes!!!

 

[stlrod]

To the OP, congrats to your parents!!! To those who don't believe winnings should be taxable, think about what you are saying: It's ok to tax your earnings you worked hard to get, but not something you received without working for it. Doesn't make a lot of sense to me.

 

[granmanh603]

Yes, and isn't it funny that we first sought independence from the British throne to AVOID high taxes!!!

It was taxes without representation that we revolted against.
....now we have representation, we vote for the people who institute programs that we have to pay taxes to support.

 

[MarkRG]

Regarding pictures I was at the Tuesday show and they only had ppl stand up from where they were sitting. As for taxes, I know Mark and Mary won an II trip on SSMC2006 - try asking on the SSMC2007 thread http://www.disboards.com/showthread.php?t=1291348&page=195

To answer that, yep we did win the 'big' prize last year on the cruise, a week Interval International trade to anyplace. No, never saw any kind of tax paperwork on it up to now, but we also didn't use it till this February. But... not the same as outright points, as I don't remember there being any kind of 'cash value' attached to ours, and also something to think about- these were won on the cruise outside the US, may make a difference as to it being taxed.

 

[disneyokw]

Regarding pictures I was at the Tuesday show and they only had ppl stand up from where they were sitting. As for taxes, I know Mark and Mary won an II trip on SSMC2006 - try asking on the SSMC2007 thread http://www.disboards.com/showthread.php?t=1291348&page=195

Thank you for letting me know. I was reading their Live report and saw the pictures of all the gifts from them.

 

[disneyokw]

To answer that, yep we did win the 'big' prize last year on the cruise, a week Interval International trade to anyplace. No, never saw any kind of tax paperwork on it up to now, but we also didn't use it till this February. But... not the same as outright points, as I don't remember there being any kind of 'cash value' attached to ours, and also something to think about- these were won on the cruise outside the US, may make a difference as to it being taxed.

Thank you for your e-mail Mark. First I want to say thank you for your post and photos while you were on the ship. I enjoyed them.

I was going to post asking you or Mary about your win. Congratulations! If you don't mind me asking where did you two go?

I was truly hoping to get some type of paperwork to make some type of decision. I am assuming they just have you call DVC regular number and it is in the system. Now I am thinking that if they don't use it till next year then the tax paperwork would be for the 2009 tax season. At least that gives us some time. I just wish they would have something to probably frame.

Thank you again for your response to this board.

 

[Olaf]

feel for you folks as if we win anything over here in the uk its tax free.If i win lotery on wednesday nights rollover of £11 million ($22 million) thats wat i would get.we only then pay tax on intrest after and not on the capital amount.
Paulh

Is this true for any prize you win? Or is it just for the state lottery? Would you owe tax if you won a car? We have to pay tax on the value of the car at the highest rate. Funny, because I've always heard (from Brits) the British government would tax the air you breath, if they could figure out how.

To those who don't believe winnings should be taxable, think about what you are saying: It's ok to tax your earnings you worked hard to get, but not something you received without working for it. Doesn't make a lot of sense to me.

I know full well what I'm saying. It doesn't make a lot of sense to me to have someone win a car or a house, but not be able to keep it because they can't afford to pay the taxes.

 

[paulh]

Is this true for any prize you win? Or is it just for the state lottery? Would you owe tax if you won a car? We have to pay tax on the value of the car at the highest rate. Funny, because I've always heard (from Brits) the British government would tax the air you breath, if they could figure out how.

Yep anything you win from a bet on the horses to winning a car on TPIR no tax to pay.Like i said only on the interest on cash so if you won a car there would be no interest so no tax to pay at all.
But then again the tax on the fuel would make up for it at $2 a litre about $8 a gallon they rake it back outher ways
Paulh

 

[dianeschlicht]

It was taxes without representation that we revolted against.
....now we have representation, we vote for the people who institute programs that we have to pay taxes to support.

Yes, but often I'm not represented by the foks I voted for!

 

[granmanh603]

Yes, but often I'm not represented by the foks I voted for!

I hear you and totally agree, I was just trying to point out that the taxes we pay are a direct result of the people sent to Congress.
Hey I lived on LI, NY most of my life and paid those taxes!!!! too, I can remember in the 1060's they were instituting a new 3% sales tax that was supposed to help education part of the taxes and reduce propery taxes....not!!!! and when we left there in 1998 the sales tax was 8.25% and property taxes were one of the highest in the nation. As the saying goes The only certainty in life is taxes and death!!!!

 

[Caskbill]

Just a reminder that these boards are for discussing DVC.

It's turning into a discussion about taxes, and government and who people voted for. That is appropriate on the community board, not on the DVC boards.

Let's stay on track and keep this strictly DVC discussions....

Thanks...

 

[disneyokw]

As the saying goes The only certainty in life is taxes and death!!!!