Warning

 

Close

Confirm Action

Are you sure you wish to do this?

Confirm Cancel
Member Login
Posted: 6/23/2003 10:21:02 AM EDT
My wife calls me from work today and says she was notified that she won $600 in an employee appreciation drawing. With around 75 employees in the drawing, I'd say we had a date with lady luck. To some $600 isn't a lot, but to us, its a nice chunk of change. The timing couldn't be more perfect as our first child is due any day now. Her due date is July 9th, but the doctors think it'll be sooner. I think we're going to use it to get some air conditioning for the house. It gets mighty hot and humid during the summers here in central Pennsylvania and the wife will be home all summer with the new addition. Don't know why anyone would care, but I just wanted to tell some one about our good fortune! Wish I could put it to use buying a new rifle - but that would be a little selfish I guess.
Link Posted: 6/23/2003 10:25:07 AM EDT
Don't forget to declare that $600 on your income taxes.................... Sorry to throw the left hand monkey wrench in your gears!
Link Posted: 6/23/2003 10:34:02 AM EDT
Congrats on the baby and the unexpected fundage! And $600 is a lot of money to me, too! (Anybody who thinks $600 is insignificant- contact me and I'll give you my address so you can send me a check!).
Link Posted: 6/23/2003 10:43:33 AM EDT
Congrats! [beer] I'll take a free $600 any day!
Link Posted: 6/23/2003 11:01:34 AM EDT
Thanks for the kind words guys! And yes, I know the tax implications (party pooper).
Link Posted: 6/23/2003 11:08:57 AM EDT
Congrats! No you probably don't have to actually claim that on your taxes. That is like the equivalent to a casino. The only time you have to claim winnings if it is over a certain value, around $10k.
Link Posted: 6/23/2003 11:11:33 AM EDT
Originally Posted By dcoke76: Congrats! No you probably don't have to actually claim that on your taxes. That is like the equivalent to a casino. The only time you have to claim winnings if it is over a certain value, around $10k.
View Quote
I guess I have to wait and see if her employer reports it on her W-2 at year end.
Link Posted: 6/23/2003 11:20:00 AM EDT
Originally Posted By AR_Shorty:
Originally Posted By dcoke76: Congrats! No you probably don't have to actually claim that on your taxes. That is like the equivalent to a casino. The only time you have to claim winnings if it is over a certain value, around $10k.
View Quote
I guess I have to wait and see if her employer reports it on her W-2 at year end.
View Quote
Exactly. If it is a payroll cut check, then probably yes re: taxes. A cash payout from "petty cash" or owners cash pocket or other employees money in a jar, no on the taxes.
Link Posted: 6/23/2003 11:43:23 AM EDT
Congrats....both on the money, and on the due date. July 9th was the day my boy was born last year.
Link Posted: 6/23/2003 11:45:46 AM EDT
Link Posted: 6/23/2003 12:38:02 PM EDT
600.00 is lot of diapers Good luck comes in three's, 600.00, baby and ?
Link Posted: 6/23/2003 12:44:21 PM EDT
congrats on your new arrival, and the unexpected $$$$$$. To keep peace in the happy homestead, I'd opt for the AC...Generally only earned income is taxed. There are a few exceptions though such as dividends, etc....
Link Posted: 6/23/2003 12:45:55 PM EDT
Originally Posted By u-baddog: 600.00 is lot of diapers Good luck comes in three's, 600.00, baby and ?
View Quote
Winning either a lifetime supply of baby-wipes, or a baby carrier that doubles as a car seat or backpack that carries the baby. You WILL need these.
Link Posted: 6/23/2003 12:51:41 PM EDT
Originally Posted By AR_Shorty: (snip) I think we're going to use it to get some air conditioning for the house.
View Quote
Good call. Your wife's and baby's comfort is your biggest concern- the first baby is the toughest to deal with, since it's all so new.
(snip)Wish I could put it to use buying a new rifle - but that would be a little selfish I guess.
View Quote
Just wait a few months, until after you have waited on your wife hand and foot, and have been the one who got up in the middle of the night without complaint to feed the baby and (more important) change his diapers [:X*].... then maybe, out of sheer gratitude, your wife will buy it for you herself....[:D]
Top Top