Hgtv essay contest

I just plugged in the numbers into a tax calculator and the IRS portion of the taxes you’d pay on the ARV would be OVER $770,, including taxes on your personal yearly income it may be more..MUCH more! I calculated it using only $25,000/year income……remember this house, car, and $500,000 check are claimed on taxes as income, taxed like sweepstakes and lottery earnings…..I then did a general look up of property taxes in the area and they are over $18,000 a year….You are looking at nearly $1,000, in winnings tax….flood insurance and property tax just for winning this home …Unless you’re already rich….I don’t know how anyone could pull this off…..I see why MOST have sold their homes and moved on….The IRS is going to have a field day when you file your 2014 tax return! Good Luck with that!

Hgtv essay contest

hgtv essay contest

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