Random Fail: First World Problems

[FNH]

Then blame your rules not us

Leeches

[Vandalhart]

They pay a higher % of taxes off the top

Levied by who? Our lotteries aren't taxed at all if you win them. As far as I can find out, the winner would just pay whatever value the US Government would require for taxes and exchange to the Canadian Dollar after.

[Byrthnoth]

Woke up this morning to no heat and no internet.

[Tokitoki]

Levied by who? Our lotteries aren't taxed at all if you win them.

Are you talking about Canada's lottery? Either way you'll get taxed in this case.

CAN A NON-RESIDENT WIN POWERBALL?

If you legally purchase a Powerball ticket, you can play the game and you can collect prizes. You do not have to be a citizen or a resident to play the game. You can be a tourist. That said, some states do have rules that seem to imply that a winner must produce evidence of citizenship or a federal SSN, but there are other ways to hold back taxes for a winner who does not have a U.S. SSN. Occasionally, some state lawmaker talks about limiting wins to U.S. citizens, but no laws have passed so far.

--------------

Federal and State Income tax apply to whatever income you actually receive in a given tax year, whether it is wages or lottery prizes. If you take the cash amount (say $50 million), then you pay income tax on $50 million) - most of it at the highest tax rate. If you take the annuity (say $100 million), then you pay income tax on the money you actually receive each year - moving more of the money to lower tax rates. Just like your wages, a withholding amount is required to be taken out immediately. The lottery will send you a W2-G form and you figure your actual tax at tax time.

It's an income. You'll pay taxes at the end of the year. Think of it as winnings from gambling (because that's exactly what it is).

[Vandalhart]

That is the US information and a Canadian resident would indeed need to pay that. I mean after that has been taken. As far as I know, there will be no additional tax levied by the Canadian Government.

[Tokitoki]

I won't pretend to know, but I'm sure the US government would take their 25%, then you get the exchange rate (as you said), and the Canadian gov't would probably want to tax it as gambling income assuming they do that in Canada.

In the US, any winnings from gambling over some amount (think it's about $30,000) will be taxed as income. This is cumulative throughout the year. I'd guess there is something similar for Canada, even if the government doesn't immediately skim something off the top upon receiving your winnings.

[Kalmado]

I won't pretend to know, but I'm sure the US government would take their 25%, then you get the exchange rate (as you said), and the Canadian gov't would probably want to tax it as gambling income assuming they do that in Canada.

In the US, any winnings from gambling over some amount (think it's about $30,000) will be taxed as income. This is cumulative throughout the year. I'd guess there is something similar for Canada, even if the government doesn't immediately skim something off the top upon receiving your winnings.

I thought it was less then that (or it was before)? This was back in 2004, but I was at Greektown Casino in Detroit playing poker and what's called the "bad beat" was hit. The "losing hand" won $13k and it was taxed on the spot. They asked him if he wanted a check or chips. He said check and when they brought it to him he was irate, but they told him that was the rules.

[Vandalhart]

I won't pretend to know, but I'm sure the US government would take their 25%, then you get the exchange rate (as you said), and the Canadian gov't would probably want to tax it as gambling income assuming they do that in Canada.

In the US, any winnings from gambling over some amount (think it's about $30,000) will be taxed as income. This is cumulative throughout the year. I'd guess there is something similar for Canada, even if the government doesn't immediately skim something off the top upon receiving your winnings.

My Mom works for H&R and I know I've heard her say that lottery winnings aren't taxed.

http://www.cra-arc.gc.ca/tx/ndvdls/t...nttxd-eng.html

That link would seem to corroborate that. So they'd be clear on the Canadian side of things.

That being said, I have read that the IRS will take a higher % from lottery winners if they are not American Citizens. That's my understanding at least.

[Tokitoki]

You're right, it's really low. I thought it was a couple tens of thousands, but it looks like it's only a few hundred.

Report gambling winnings on Form W-2G if:

The winnings (not reduced by the wager) are $1,200 or more from a bingo game or slot machine,

The winnings (reduced by the wager) are $1,500 or more from a keno game,

The winnings (reduced by the wager or buy-in) are more than $5,000 from a poker tournament,

The winnings (except winnings from bingo, slot machines, keno, and poker tournaments) reduced, at the option of the payer, by the wager are:

$600 or more, and

At least 300 times the amount of the wager, or

The winnings are subject to federal income tax withholding (either regular gambling withholding or backup withholding).

[Kalmado]

I'm sure the rules are constantly changing. That night in Greektown I cashed out with around $1150 ($900 from the bad beat) but was not taxed. It also wasn't a tournament but a cash game. Florida 2009 I cashed out for around $775 and was not taxed either. Cash game as well, but this was at a dog track so maybe they just don't follow the rules like they should have. Who knows.

[FNH]

Winners without a SSN get 30% taken off the top. Idk about what the states would take, some states charge US citizens income tax, some don't have income tax and some don't tax winnings. Something funny I read last night is that it is illegal to import tickets into the US. So if the winning ticket was bought and taken across the border and they come back to claim it, it can be confiscated by customs if caught.

I'm not tax expert, but iirc the 25%(30% for non-citizen) may not be the final tax burden for federal withholding.

[Airenn]

I have a crush on my freaking boss. He's with someone and has a kid. UGH.

[Zetanio]

I have a crush on my freaking boss. He's with someone and has a kid. UGH.

Buy him a jacket.

That's your move right?

[Airenn]

I'd buy him a jacket SO HARD

[Zetanio]

I'd buy him a jacket SO HARD

Something something jacket off.

[BaneTheBrawler]

I have a crush on my freaking boss. He's with someone and has a kid. UGH.

i hereby declare you a trainwreck

[Zetanio]

Can we change her title to "I am trainwreck. Jacket off." ?

[Anoat]

I have a crush on my freaking boss. He's with someone and has a kid. UGH.

Welcome to your new life as "the other woman".

[BaneTheBrawler]

Can we change her title to "I am trainwreck. Jacket off." ?

ksandra plz


edit: Alternative title:

Welcome to your new life as "the other woman".

[Airenn]

The trainwreck thing is spot on, albeit in the clean up and restore phase.

But lemme tell the single shit-fucks up in here what really attracts a girl/woman/trainwreck. I've worked with this guy for a few years now, seen him go from being a server to a manager. I don't agree with the career move, and I'm pretty sure it's not the ideal situation for him either. But he comes to work, hours on end, generally positive and is very kind. He has a kid he adores and is family oriented. I know he's had problems with the woman (not married) but for the most part I think he's trying to make things work. I never hear him talk bad about other people and only very rarely does he let his personal life affect his job. He cares about his health and fitness, has good posture and doesn't do that fucking bowlegged shit I hate.

It's an admiration crush more than a physical one, though he is fairly cute and happens to be the gender/ethnicity that I prefer.

Mostly though, while I know ya'll joke - He's someone I look up to and respect and that's rare.

Aight, continue the shit posting and joking!

Edit: I expect Ksan/Ast/are there any other women on BG anymore? to come in here and weigh in on what's attractive to them, btw.