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Do you guys buy the $150 each Home raffle tickets?

Topic closed. 16 replies. Last post 3 years ago by Jill34786.

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Jill34786's avatar - Lottery-006.jpg
Windermere, FL/Franklin, TN
United States
Member #50210
March 1, 2007
843 Posts
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Posted: March 13, 2014, 5:05 pm - IP Logged

I wonder if the winners of those raffles have the same problem as the waitress who Jack Whittaker brought a home for when he won the PowerBall jackpot.  She complained she was worst off since she couldn't afford to pay the realastate taxes.

Any of the house raffles as well as lottery winnings are all treated as ordinary income for tax purposes. Real estate property taxes in WV is minimal especially when compared to Federal taxes.

** Some people fulfill their dreams by receiving entitlements from the Government while others wake up and work hard for it! **

    Jill34786's avatar - Lottery-006.jpg
    Windermere, FL/Franklin, TN
    United States
    Member #50210
    March 1, 2007
    843 Posts
    Offline
    Posted: March 13, 2014, 5:19 pm - IP Logged

    The Humane Society is doing a car raffle in which they offer your choice of two different luxury vehicles from their list. Each ticket cost $100 plus a one time $100 entry fee. I think the total number of tickets is 3000 or 3500 so it sounds tempting as I would choose a Porsche Convertible and a Tesla model S if I were lucky enough to win. Anyone here familiar or had any experience with Tesla?

    We participate in different automobile raffles as well but never have looked into the version offered by Humane Society, I will view the details later on.

    You had a question on Tesla, we took delivery of a Model S P85 in December and absolutely love it! We live in Orlando and recently drove it to Miami (about 270 miles) without any need to stop and recharge. Tesla has service centers throughout many states and allows complementary charging to all Tesla owners. We have logged over 1300 trouble free miles. You can PM me if you have any specific questions.

    ** Some people fulfill their dreams by receiving entitlements from the Government while others wake up and work hard for it! **