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The Thrill Of Victory. The Agony of Defeat. Rarely does one person get to experience such highs and lows within mere hours of each other, but when it happens, the comedown is often all the more painful. Just ask Santaquin, Utah resident David Dopp. The Frito-Lay truck driver won a green Lamborghini Murciélago LP640 Roadster, grand prize in the "Joe Schmo To Lambo" contest operated by Maverik gas stations and teamgive.org last month.
Dopp, father of six, was finally presented the car on Saturday afternoon, after which he set about driving it around the neighborhood, giving rides to friends. His elation wouldn't last. Less than six hours after taking delivery of the Lamborghini, Dopp lost control of the 640-horsepower Italian, hopped a curb and spun it into an embankment 75 feet from the road. A witness, Miles Davis (yes, really), said that skid marks were evident on the road and that the car ended up facing the wrong direction. Neither Dopp nor his friend in the passenger seat were injured.
Police say the accident was likely "speed-related," although Dopp reportedly says he was only doing 40-50 mph when he lost control of the car on a section of road with a 35-mph speed limit. Dopp maintains he might have hit some black ice or gravel.
While the extent of the damage to the Lamborghini is not immediately clear, local publication InSantaquin News notes that Dopp has full insurance. To see Dopp's Murci pre-crash, check out the video after the jump
Jalopnik's saying the guy probably totalled it on purpose.
He tried to sell it to Jay Leno on his facebook page, claiming it would've cost him $10k in taxes, plus he put his house as collateral for the taxes in order to claim the prize.
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Originally Posted by skyxx
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I don't know why its that much, but thats bullshit.
It's 100K because the value of the prize is considered income. So using simple numbers, if his salary is 50K, the car is 250K, and the income tax % for that bracket in his state is 33.3%, he would owe 100K in taxes.
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I couldn't care less about the math. That kind of taxation is brutal.
If the 99%'ers had their way, the tax percentage would be even higher.
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Originally Posted by skyxx
Sonick is a genius. I won't go into detail what's so great about his post. But it's damn good!
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1990 Mazda Miata - Sold
ya that fuckin sucks for that dude. thats why so many US lotteries are like $200,000,000 to cover the damn taxes when you win. its not like that in canada.
Apparently a lot of contestants on the price is right dont claim their prizes due to the tax issue too.
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Quote:
Originally Posted by RRxtar
ya that fuckin sucks for that dude. thats why so many US lotteries are like $200,000,000 to cover the damn taxes when you win. its not like that in canada.
Apparently a lot of contestants on the price is right dont claim their prizes due to the tax issue too.
you're right. I had a friend (who lives in the states) win an Audi at the casino and he paid about $20,000 in taxes. Still a lot less than the car but still
Quote:
It's suckage because the car counts as income at whatever level the government decides the car is worth. It's not a specific get-the-little-guy tax; it's merely a crappy side effect of income tax. Every game show winner is also subject to the same problem — if you go on Wheel of Fortune and wind up winning a $6,000 trip to Hawaii and a new $30,000 car and $2,000 in cash, then you now owe income taxes on an extra $38,000 of income, which amounts to way more than the $2,000 cash you just won. (That's why it's always better to make it onto Jeopardy!)
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There's clearly snow and frost on the ground around his neighbourhood before he even took it out, and it's covered with snow after. Doubt it had snow tires. Maybe not such a great idea to take a lambo out in the winter.
Just a crazy thought.
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Originally Posted by Santafu
Are US taxing them by percentage or it's pretty much random numbers?
Does Canada do this or what?
its depends what tax bracket your income falls into.
For example.
Quote:
Originally Posted by freakshow
It's 100K because the value of the prize is considered income. So using simple numbers, if his salary is 50K, the car is 250K, and the income tax % for that bracket in his state is 33.3%, he would owe 100K in taxes.
In Canada, our lotteries are tax-free meaning if the jackpot/grand prize is $1 million dollars, the winner would be awarded $1 million. In the US, the winnings are taxed so the winner only retrieves a the amount after taxes are calculated.
US and Cdn tax are crazy for middle class. I know a white dude from LA now working at an accounting firm in Beijing, he makes about $20K usd per month. It sounds awesome, but he told me after getting taxed by both governments he only gets $3K usd in real to spend on food and expenses. 3K is still a lot in China, but you could imagine
US and Cdn tax are crazy for middle class. I know a white dude from LA now working at an accounting firm in Beijing, he makes about $20K usd per month. It sounds awesome, but he told me after getting taxed by both governments he only gets $3K usd in real to spend on food and expenses. 3K is still a lot in China, but you could imagine
Then he's an idiot and is doing it wrong... Canada and US have a treaty to prevent this. Ur friend needs to talk to a tax consultant - if he's living in china, he wouldn't pay Cdn taxes (as a non resident), US taxes citizens on worldwide income, but I'm sure there's some kind of provision to prevent dbl taxation.
And to all those spouting about taxes - unless you know about US and canadian tax law, just say nothing, there are pros and cons to both systems, but net, both are good systems generally (although you will tend to pay less tax as an individual in the US)
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Originally posted by Booboo*Fei
"stick car is funer then any auto but i will only take cl55amg, sl55amg, slk55amg, clk55amg, sl60amg if auto. why people drive auto becuz it is they can't drive the 6speed gear. auto is too slow of car means the seconds higher with the manual 1/4, 1/8
only fast auto is AMG ever. "
^ he's an accountant for sure he knows far more than I do, this is just what he told me when we hang out. I know Canadians can claim as non-resident, that's what most vancongers have gone through when moving back to Asia, but there are people I know who prefer to keep the status to get benefits.
There's clearly snow and frost on the ground around his neighbourhood before he even took it out, and it's covered with snow after. Doubt it had snow tires. Maybe not such a great idea to take a lambo out in the winter.
Just a crazy thought.
Its December 21st and you just won a Lambo today. are you going to park it for the next 6 months and sit in it making "vrooom vrooom" noises or are you going to take it for a burn?
^ he's an accountant for sure he knows far more than I do, this is just what he told me when we hang out. I know Canadians can claim as non-resident, that's what most vancongers have gone through when moving back to Asia, but there are people I know who prefer to keep the status to get benefits.
Being an accountant != having good tax skills, and sounds like these 'benefits' to maintaining resident status is costing him...
In Canada, our lotteries are tax-free meaning if the jackpot/grand prize is $1 million dollars, the winner would be awarded $1 million. In the US, the winnings are taxed so the winner only retrieves a the amount after taxes are calculated.
um no, the winner will get $1mill-2nd place prize-3rd place prize.
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its like.. oh yeah oh yeah.. ohhhh yeah... OOoooOohh... why's it suddenly feel a bit better... ohhhh yeahh... ohhh...oh..fuck... it probably ripped.
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Originally Posted by RRxtar
Its December 21st and you just won a Lambo today. are you going to park it for the next 6 months and sit in it making "vrooom vrooom" noises or are you going to take it for a burn?
Day like today, mild temperatures, not even wet ground...sure why not. Frost and snow? Probably not the best idea.
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Father of 6? 
