New Hotel Thread Here The First One Reached Its Limit-READ 1ST POST IMPORTANT INFO

[minnie1928]

my 5 yr old DD just heard the pops and says "oh, baby it's time!".

 

[mjrich73]

Another FYI for newbies- it will not necessarily happen before midnight. Last Thursday (according to them) happened at 1:27 AM EST on Friday.

Please don't talk to me. I may very well lose my mind!!!!

 

[EpcotIsMyFave]

Well the good thing about the false pops (if there can be something good about them!) is that I freak out a little less each time I hear it!

 

[Disfan47]

How is a hotel room for $1.00 income? Are we working for them? They seem to think we are.

 

[lauren_elizabeth]

YAY! A fellow Tiger fan! GEAUX TIGERS!

OK, now GEAUX LMT- let's get those rooms!!

Add me to the list of TIGER FANS! GEAUX LSU!
Mama grew up in Mandeville!

 

[DancingMinnie]

9 minutes ?!?!?!?!

 

[RebeccaDreamsDisney]

I posted this on the other thread by accident but does anyone know if you can get the deal if you're Canadian?

 

[mrsbert]

YAY! A fellow Tiger fan! GEAUX TIGERS!

OK, now GEAUX LMT- let's get those rooms!!

Another Tiger fan here too.

GEAUX LMT!

 

[mjrich73]

Add me to the list of TIGER FANS! GEAUX LSU!
Mama grew up in Mandeville!

Lafayette girl here!!!

 

[mrsbert]

I'm not sure how a drug addict feels but.........

 

[MKCP5]

had to pick up carpool---did I miss it?!!!!

 

[rusafee1183]

ck the search now button on that page and then you will be on the right page

Thanks so much! I have another dumb question. I have 2 pages open - 1 that I keep refreshing and 1 on the deal that I want. Do you think that will work? Or should I just have the 1 page open and use it once I see the clock?

I don't know if the 2nd tab will "register" the deal??? Does that make sense?

 

[KATIESMOMMY]

This just posted over at SD:
"Quote from LoveDealz17 :
I agree. Since the terms and conditions changed late last week, I think people should be aware of the possible taxes. Flyertalk and budget travel are both posting messages from the legal team at LMT:
(I don't know if I am allowed to post the link, but here are the details)

"Received this confirmation from Last Minute Travel’s legal team, below! Hope this helps:
Fees: When you successfully book during The World for $1 sale, you will receive a hotel stay per your specifications as found on the confirmation voucher. This does not include any fees incurred at the hotel or during your vacation (example: resort fees, phone charges, transportation, etc.).
Taxes: The value of hotel rooms purchased during the World for $1 sale may be taxable as income. Individuals are solely responsible for the payment of all federal, state and local income or excise taxes on prize. Depending on the value of the rooms, you may be required to provide a social security number for 1099/income tax filing purposes. If required, Last Minute Travel will send you the appropriate documentation for tax filing. You are not responsible for hotel taxes.
Posted By Blog Editor on January 30, 2009, 10:52 AM"

Like I said, for those already going it is still a great deal, but for those that are thinking they are getting a $5000.00 hotel for a week for nothing, they should be aware of the possible taxes at 10% or 15%.

For those that keep insisting there are no taxes, how do you know that? Where is your backup?

If they do it this way--then they are saying that it might be considered like winning a prize in a contest or lottery....and at the end of the year they would produce a 1099-G that you would have to report on your taxes as income."



Here's my issue: the "value" of a hotel is arbitrary--they fluctuate. If they are advertised for $1 then THAT is the value of the hotel. It's the old "Peppercorn" theory of a contract. This is being advertised as a sale of hotel rooms for $1 a night, NOT a prize, lottery or sweepstakes.

Any accountants/tax prep folks here?

You guys need to understand, this is a promotion, advertising for the company. With the large amount of monetary value they are giving away, they need to be able to claim this on their taxes. Now , if they charged you a dollar, the room value would be a dollar and so would be your tax liability.
They are not charging you the dollar, making this a promo or a sweepstakes, which in turn, means you are ultimately responsible for the taxes for the "prize". If the 10-99 you, they have to get your ssn number from you and then you will get a tax form next Jan as well as the IRS receives this information.
If they do not get your ssn, you are still responsible to claim this on your taxes, but, some sweepstakers do not claim all their wins as they say the IRS doesnt know about them unless they have had to fill out the information for the 10-99.

I am not a tax accountant, but a preparer for over 10 years for a major firm and also a pro sweepstaker who has won many many prizes...

the value for the room is the price it costs LMT to procure, you are responsible for that amount.

 

[Dancemom03]

How is a hotel room for $1.00 income? Are we working for them? They seem to think we are.

Don't know about you but it sure is seeming like work today!

 

[hellokitty86]

I posted this on the other thread by accident but does anyone know if you can get the deal if you're Canadian?

I don't believe so. I think it is for US residents only.

 

[LoveTwoTravel]

How is a hotel room for $1.00 income? Are we working for them? They seem to think we are.

It's more: money paid on your behalf for a benefit you enjoyed. Not the best example but if your company paid moving expenses then you'd be responsible for reporting that on your income taxes.

I am not an accountant.

 

[trailherd]

But "rack rate" is not set by law or regulation so it's not an amount that *must* be charged, see? Plus, the "campaign" is for one U.S. dollar, yet international locations are available for booking. I still say no taxes (as if for a prize, etc.). I'm sure there is a chance I am wrong.

The only thing that really gives me pause is that they now say confirmed bookings will not be charged the $1: I'd feel better paying the $7, in keeping with what I've said before.

I'm watching to see if they change the terms to "winners"...that would be a RED FLAG in favor of taxes/prize/sweepstakes/lottery/etc.

It doesn't matter whether the amount "must" be charged. The only thing that matters is fair market value. In determining that they will likely base it on what the hotel typically books for (i.e. rack rate).

Even with the $1 fee, the whole thing seems like a contest. "Come on our website at a particular undisclosed time during the day and you get a hotel for $1 (or free)." I'm pretty sure the IRS will consider this a contest and any "prize" will be includable into gross income.

 

[DisneyWithMyBoyz]

224 = 2 to 4= 2 minutes until 4= 3:58??

Somebody may have already come up with that....but just thinking out loud!

 

[brandip22]

Another Tiger fan here too.

GEAUX LMT!

LOL- I've been on here for years and only see tigers once in a while- so all on now is funny!

 

[c88fly]

Another Tiger fan here too.

GEAUX LMT!

Another Tiger fan here too, but for the Memphis Tigers!!