Don't you love the taxman!

[ShinShin]

Come on...



http://sports.yahoo.com/mlb/blog/big_league_stew/post/Buzzkill-Fan-may-owe-taxes-on-rewards-for-Jeter?urn=mlb-wp12427


...are you kidding me?

Mat

[Altum Nut]

It really is sad.
I personally think that Mr. Jeter should pay this guys $100.000 student loan off just because the ball means more to Jeter than any collector.
As for the IRS.... the gifts were given by the NY Yankee organization...and they should step-up and pay any taxes that may apply.
This guy did what no one would have done...
I would be honored to shake this guys hand.

...Ralph

[terps]

The guy is a total moron. He owes over $100,000.00 in student loan debt. And he gives a possible $250,000.00 ball away???

Apparently his college education has taught him nothing. Maybe it was worth nothing too. What an idiot.

http://sports.yahoo.com/mlb/blog/big_league_stew/post/Fan-returns-3-000th-hit-to-Jeter-team-rewards-h?urn=mlb-wp12123

$100,000.00 college debt is like having mortgage payments without getting a house.

http://finance.yahoo.com/college-education/article/113010/degree-not-worth-debt-cnnmoney;_ylt=AtDeSTsSPRF6th5IUn1VvVm7YWsA;_ylu=X3 oDMTFhcWwxYWVuBHBvcwMzBHNlYwNwZXJzb25hbEZpbmFuY2UE c2xrA215ZGVncmVlaXNudA--

[ShinShin]

Terps,

All that is irrelavent to my point about the taxman. Here a regular guy who can use the cash, unselfishly gives a rich ballplayer a ball because he felt it was the right thing to do. The team rewards the guy with some great gifts, and the IRS may seek more than the man can afford in taxes, yet wealthy people hire a lawyer and pay pennies on the hundreds of thousands they owe in taxes, not to mention the corporate welfare we give to the wealthy business owner. The poor guy is getting hosed.

[Scribbles]

The guy is definately getting a raw deal.

Chris

[terps]

Terps,

All that is irrelavent to my point about the taxman. Here a regular guy who can use the cash, unselfishly gives a rich ballplayer a ball because he felt it was the right thing to do. The team rewards the guy with some great gifts, and the IRS may seek more than the man can afford in taxes, yet wealthy people hire a lawyer and pay pennies on the hundreds of thousands they owe in taxes, not to mention the corporate welfare we give to the wealthy business owner. The poor guy is getting hosed.

He has to pay taxes on gifts like anybody else. Even the rich have to pay taxes on gifts over $13,000.00. Many contestants on game shows refuse to accept many of the prizes they win due to the tax laws. Oprah made that mistake when she gave cars away to her audience and many couldn't afford the tax bill.

http://taxprof.typepad.com/taxprof_blog/2010/11/tax-consequences.html

I do hate it when the super rich take advantage of the tax loopholes that that average citizen would not be able to figure out because they can't afford to hire smart accountants. The Kennedy family should have had to pay $150 million in death taxes on their family fortune. But they only paid $135,000 due to creative accounting. That is an outrage. The real outrage is that the death tax even exists.


http://www.youtube.com/watch?v=AbDwbUZar0o

The Yankee organization should have offered to pay for the taxes on the gift when they gave it to him. Otherwise, he has to pay the taxes.

[roundfishross]

hence the old addage of death an taxes..............yes he is definatly getting hosed!

[decula]

"The real outrage is that the death tax even exists. "

+1 there!