Holy crap i won something!!!!!!!!!!!!
Ultimate HDF Member
Joined: Jan 2008
Posts: 6,532
Likes: 132
From: SoCal
What is your tax bracket? How much did you make, net income versus tax paid. Do that for fed, and state if applicable, that will tell you approximately how much tax you will owe. Of course the bike may jump you up into a higher bracket depending where you are starting out at. It's just like getting paid for a job except there will be no offsetting the income with deductions and you will not have had any taxes deducted from you paycheck. It would be best to contact a tax person after taking possesion and find out what the tax liability is and what can be done to minimize it, like making some quarterly estiamted income tax additional payments. at least that way there will be no penalties and interest.
Last edited by qtrracer; Oct 5, 2013 at 05:18 PM.
Tourer
Joined: May 2008
Posts: 351
Likes: 1
From: Tolland CT
HD card always says that they give away free bikes. This is the first time in 4 years I've actually heard of someone winning a actual bike. Good for you man! Congrats!
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