NY vs Chicago Grudge Match Update

King of Queens · Post by **King of Queens** » Mon Jan 08, 2007 4:22 am

Originally posted by Tamuscarecrow:
Diesel, you may want to check with someone but unless you won $600 on a particular event you won't be getting a 1099 from the NFFC so it will not be taxable. NY Auction $725
NY/Chi Team Winner $125
NY/Chi Pizza Money $240

All monies will be paid in 2007, so this will all be reported on the same 1099-M.

Trust me -- Marc will be getting a tap on the shoulder from Uncle Sam.

TamuScarecrow · Post by **TamuScarecrow** » Mon Jan 08, 2007 4:31 am

That's $1090. I'm sure the fees he paid to play were more than that so there should be $0 tax liability. All he needs is his NFFC receipt to show he paid more than the $1090 to play.

Diesel · Post by **Diesel** » Mon Jan 08, 2007 6:34 am

Again guys...I shouldn't be counting my own expenses to off-set everyone else's winnings here. We all thought the winning team would get a check for pizza. Tom said it's not that easy and that money will be taxed. I won't be getting a check just for the pizza. I'll be getting a check for all of my winnings. The pizza money will be included and taxed along with the rest of my money.

It's been agreed upon by Team New York that I take the appropriate taxes out and use the rest towards our party. With this money, we are treating Chicago too, if they come to NY. I thought this was all settled.

I want to say that I don't want to receive the money anymore, but I don't want to drive Tom K. nuts after already exchanging emails about this matter already.

I've said this before, but I'll repeat...Next year, we HAVE to include all money in the entry fee, and everyone will have their own "Pizza money" in their winnings. This way, the winning city has to collect pizza money from their own team members, after they've been taxed on it.

BillyWaz · Post by **BillyWaz** » Mon Jan 08, 2007 7:54 am

Originally posted by Diesel-MoJo Rising:
I've said this before, but I'll repeat...Next year, we HAVE to include all money in the entry fee, and everyone will have their own "Pizza money" in their winnings. This way, the winning city has to collect pizza money from their own team members, after they've been taxed on it. I agree with this 100% Diesel! There is no way you should be getting taxed for everyone else's money. Whatever you chooses to do is fine by me, but as I said earlier, I have no problem pitching in when I get to NYC.

Especially since I was from the losing team!

BillyWaz · Post by **BillyWaz** » Mon Jan 08, 2007 10:28 am

We shall see.

I'm not sure you would agree with this Snake, but I MUCH rather would have liked to finish in the bottom 3 teams (did that last year) and have Team Chicago win, than win the event and have Team Chicago lose.

Which would you rather have?

Ted's Cracked Head · Post by **Ted's Cracked Head** » Wed Jan 10, 2007 9:42 am

...simply as an fyi here...as SNAKE knows rather unfortunately through first hand experience, Uncle Sam doesn't "tap" lightly but rather "pushes" forcefully...SNAKE
I just heard the snap of a plastic glove behind me, I am afraid to look - is it Uncle Sam?

On a serious note, if any spots ever open up in this challenge, I would be honored to represent Chitown.