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(204)
TEREESE3
06:19 AMMar 04 2009
I would take the cash and pay off the house I have
Joseshema
06:16 AMMar 04 2009
Unless the house value was recently estimated it may only fetch half that in todays economy. Also with no job how are they going to pay for taxes, upkeep and the other bills ?
Mmaria1003
06:14 AMMar 04 2009
WTG, thats what you call luck, they should take the money and get settle. I could not win a door prize or if there was drawing i was the only one it . I still would not win hehe. I am so happy for them.
PerryTsang
11:04 PMFeb 28 2009
Actually it is the beginning of a major problem for this family. Where are they going to get the money to pay for the income tax on the winning. This winning is taxable as it is considered as income. The family has to either take the cash prize instead, or sell their current home so to have the cash to pay for the taxes. The value of the house is 2 million. If estimate tax rate is 40%, you are talking about $800,000 in tax payment. If they take the cash of 1.2 million, the tax is only $480,000. I don't know how much their current home is worth, but my guess is they would do much better taking the cash.
JINX1105
07:19 PMFeb 28 2009
Take the money. If you take the house, you'll owe on property taxes, huge insurancec bill, and a 40% prize tax on the actual appraised value of the home. Don't forget to include the huge electric and water bills you'll incur as well. Should you take the money, then it's 25% in taxes and the rest can be invested - wisely.
sTeVejRhUmPsMeN
06:54 PMFeb 27 2009
If they're smart they'll take the money because they won't be able to afford the property taxes and the upkeep on that property.
BRY2254
06:30 PMFeb 27 2009
Take out a big loan! And then wait, the goverment will take care of it. And you will get a huge tax break!
MADELUCK1
06:27 PMFeb 27 2009
Take the house and geta low intrest loan while you find another job.
Mzhuf
05:58 PMFeb 27 2009
Goodie, goodie for you! I'm waiting to see how much Obama sends my way!! lol
Crysta192
04:43 PMFeb 27 2009
it's a nice house but i think they should take the cash, and boy i tell you some people have all the luck in life haha.. I'm happy for them good luck to them .. Now all we need is some good luck to the rest of us , where is my money now lol .. wink wink : )
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