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Marsha...
Posted: Sat May 10, 2008 7:35 pm
Guest
Does anyone have any idea how much the taxes would be on a $350,000
home? St. Jude has a Dream Home raffle in our area every year and I
would really like to buy a ticket to support them. However, the rules
state that "the IRS requires that taxes on prizes valued greater than
$5,000 must be paid upon acceptance and before SJCRH may deliver the
prize to the winner. Winners are encouraged to consult a tax
consultant." Not that I snowball's chance in hell of winning, of
course, but you never know :-)

Marsha/Ohio
Sandi...
Posted: Sat May 10, 2008 7:35 pm
Guest
On May 10, 10:16 pm, Marsha <m... at (no spam) xeb.net> wrote:
Quote:
Jeannie wrote:
Marsha <m... at (no spam) xeb.net> wrote innews:g05f11$r68$1 at (no spam) news.datemas.de:
Does anyone have any idea how much the taxes would be on a $350,000
home?  St. Jude has a Dream Home raffle in our area every year and I
would really like to buy a ticket to support them.  However, the rules
state that "the IRS requires that taxes on prizes valued greater than
$5,000 must be paid upon acceptance and before SJCRH may deliver the
prize to the winner. Winners are encouraged to consult a tax
consultant."  Not that I snowball's chance in hell of winning, of
course, but you never know :-)

Marsha/Ohio

this might help or send you in the right direction

http://auditor.cuyahogacounty.us/realprop/calculate.htm

That helps as far as property taxes goes, but I think St. Jude's website
is referring to income taxes on the value of the house?  Maybe I
misunderstood.  If you have to come up with the income tax amount before
taking ownership, that would be not be easy to do.

Marsha/Ohio- Hide quoted text -

- Show quoted text -

The taxes have to be paid before delivery, but mortgages are always
approved before delivery of any property. You could easily get a
mortgage for the income tax amount based on the $350K equity in the
home.

Sandi
Marsha...
Posted: Sat May 10, 2008 7:41 pm
Guest
Marsha wrote:

Quote:
Does anyone have any idea how much the taxes would be on a $350,000
home? St. Jude has a Dream Home raffle in our area every year and I
would really like to buy a ticket to support them. However, the rules
state that "the IRS requires that taxes on prizes valued greater than
$5,000 must be paid upon acceptance and before SJCRH may deliver the
prize to the winner. Winners are encouraged to consult a tax
consultant." Not that I snowball's chance in hell of winning, of
course, but you never know :-)


Um, that should be "not that I have a snowball's chance in hell...
Jeannie...
Posted: Sat May 10, 2008 9:00 pm
Guest
Marsha <mas at (no spam) xeb.net> wrote in news:g05f11$r68$1 at (no spam) news.datemas.de:

Quote:
Does anyone have any idea how much the taxes would be on a $350,000
home? St. Jude has a Dream Home raffle in our area every year and I
would really like to buy a ticket to support them. However, the rules
state that "the IRS requires that taxes on prizes valued greater than
$5,000 must be paid upon acceptance and before SJCRH may deliver the
prize to the winner. Winners are encouraged to consult a tax
consultant." Not that I snowball's chance in hell of winning, of
course, but you never know :-)

Marsha/Ohio


this might help or send you in the right direction

http://auditor.cuyahogacounty.us/realprop/calculate.htm
Marsha...
Posted: Sat May 10, 2008 9:16 pm
Guest
Jeannie wrote:
Quote:
Marsha <mas at (no spam) xeb.net> wrote in news:g05f11$r68$1 at (no spam) news.datemas.de:
Does anyone have any idea how much the taxes would be on a $350,000
home? St. Jude has a Dream Home raffle in our area every year and I
would really like to buy a ticket to support them. However, the rules
state that "the IRS requires that taxes on prizes valued greater than
$5,000 must be paid upon acceptance and before SJCRH may deliver the
prize to the winner. Winners are encouraged to consult a tax
consultant." Not that I snowball's chance in hell of winning, of
course, but you never know :-)

Marsha/Ohio

this might help or send you in the right direction

http://auditor.cuyahogacounty.us/realprop/calculate.htm

That helps as far as property taxes goes, but I think St. Jude's website
is referring to income taxes on the value of the house? Maybe I
misunderstood. If you have to come up with the income tax amount before
taking ownership, that would be not be easy to do.

Marsha/Ohio
Marsha...
Posted: Sat May 10, 2008 9:29 pm
Guest
Sandi wrote:
Quote:
Marsha <m... at (no spam) xeb.net> wrote innews:g05f11$r68$1 at (no spam) news.datemas.de:

Does anyone have any idea how much the taxes would be on a $350,000
home? St. Jude has a Dream Home raffle in our area every year and I
would really like to buy a ticket to support them. However, the rules
state that "the IRS requires that taxes on prizes valued greater than
$5,000 must be paid upon acceptance and before SJCRH may deliver the
prize to the winner. Winners are encouraged to consult a tax
consultant." Not that I snowball's chance in hell of winning, of
course, but you never know :-)

Marsha/Ohio

The taxes have to be paid before delivery, but mortgages are always
approved before delivery of any property. You could easily get a
mortgage for the income tax amount based on the $350K equity in the
home.

Sandi

Thanks for jumping in to help on that, Sandi. That makes buying a
ticket a bit easier. Of course, the plan would be to immediately sell
the house for way below market value, maybe $200,000, if that is
allowed. If I win, can I interest anyone in coming to beautiful
Perrysburg, Ohio to visit? Here's a bit of information about the house:

http://tinyurl.com/5vfon6

Marsha/Ohio
RaeMorrill...
Posted: Sun May 11, 2008 12:14 pm
Guest
Maybe you could raffle it off yourself if you won? LOL. As was stated,
it should be easy to get a mortgage for what the taxes were. Problem is
with some homes like that that real estate taxes would be so high you
couldn't afford them even without a mortgage


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RaeMorrill
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Phyllis Nilsson...
Posted: Sun May 11, 2008 1:59 pm
Guest
It is my understanding that the $350,00 is considered income so it would be
added to your total income for that year. It would probably throw you into
a higher tax bracket when combined.


"Marsha" <mas at (no spam) xeb.net> wrote in message news:g05f11$r68$1 at (no spam) news.datemas.de...
Quote:
Does anyone have any idea how much the taxes would be on a $350,000 home?
St. Jude has a Dream Home raffle in our area every year and I would really
like to buy a ticket to support them. However, the rules state that "the
IRS requires that taxes on prizes valued greater than $5,000 must be paid
upon acceptance and before SJCRH may deliver the prize to the winner.
Winners are encouraged to consult a tax consultant." Not that I
snowball's chance in hell of winning, of course, but you never know :-)

Marsha/Ohio
RMJCMT...
Posted: Tue May 13, 2008 2:58 pm
Guest
<< If I win, can I interest anyone in coming to beautiful
Perrysburg, Ohio to visit? >>


Marsha, I always see your sig Marsha/Ohio. Have always wondered where
in Ohio you are. I lived in Swanton for 10 years, and yes Perrysburg is
beautiful in the summer as is Whitehouse and Oak Openings. Nevertheless,
for this Calif raised gal, the winters back there were killers. Probably
the best thing I ever saw was Ohio in my rearview mirror.

Ruth who is now in warm, sunny Tucson, Arizona :-)


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RMJCMT
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Anne V....
Posted: Tue May 13, 2008 3:34 pm
Guest
Is that where Oak Openings is? I remember going there when I was a little
girl, and I loved it. When I went back to visit my aunt several years ago,
I asked her if we could go to Oak Openings. I thought it was in the Toledo
area. She had no idea what I was talking about...bummer.

Anne

"RMJCMT" <RMJCMT.39d78a at (no spam) no-mx.forums.yourdomain.com.au> wrote in message
news:RMJCMT.39d78a at (no spam) no-mx.forums.yourdomain.com.au...
Quote:

If I win, can I interest anyone in coming to beautiful
Perrysburg, Ohio to visit?


Marsha, I always see your sig Marsha/Ohio. Have always wondered where
in Ohio you are. I lived in Swanton for 10 years, and yes Perrysburg is
beautiful in the summer as is Whitehouse and Oak Openings. Nevertheless,
for this Calif raised gal, the winters back there were killers. Probably
the best thing I ever saw was Ohio in my rearview mirror.

Ruth who is now in warm, sunny Tucson, Arizona :-)


--
RMJCMT
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Marsha...
Posted: Tue May 13, 2008 7:45 pm
Guest
RMJCMT wrote:
Quote:
If I win, can I interest anyone in coming to beautiful
Perrysburg, Ohio to visit?


Marsha, I always see your sig Marsha/Ohio. Have always wondered where
in Ohio you are. I lived in Swanton for 10 years, and yes Perrysburg is
beautiful in the summer as is Whitehouse and Oak Openings. Nevertheless,
for this Calif raised gal, the winters back there were killers. Probably
the best thing I ever saw was Ohio in my rearview mirror.

Ruth who is now in warm, sunny Tucson, Arizona :-)



Well, Ruth, I'm happy that you're happy Smile This area really isn't too
bad as far as snow accumulation, or even sub-zero weather, for being
this far north. Most of the lake effect stuff goes north or south or
heads right for Cleveland! It just makes us appreciate the other three
seasons a bit more. I've lived in this area my entire life and can't
see myself living anywhere else. I live in Springfield
Township/Holland. Most Toledo suburbs have a relatively low cost of
living and we are within a short drive of a lot of good stuff, but we
don't have to put up with a big city environment.

I remember asking you a long time ago if you were a person I knew in
school with the same name, but you weren't. I had relatives in Swanton,
right across from Swanton Coliseum, where we went roller skating, and we
used to fish at Swanton Reservoir. Ah, the good old days...

Marsha/Ohio
Marsha...
Posted: Tue May 13, 2008 7:49 pm
Guest
Anne V. wrote:

Quote:
Is that where Oak Openings is? I remember going there when I was a little
girl, and I loved it. When I went back to visit my aunt several years ago,
I asked her if we could go to Oak Openings. I thought it was in the Toledo
area. She had no idea what I was talking about...bummer.

Anne

"RMJCMT" <RMJCMT.39d78a at (no spam) no-mx.forums.yourdomain.com.au> wrote in message

Marsha, I always see your sig Marsha/Ohio. Have always wondered where
in Ohio you are. I lived in Swanton for 10 years, and yes Perrysburg is
beautiful in the summer as is Whitehouse and Oak Openings. Nevertheless,
for this Calif raised gal, the winters back there were killers. Probably
the best thing I ever saw was Ohio in my rearview mirror.

Ruth who is now in warm, sunny Tucson, Arizona :-)


Hi, Anne. When were you here, without giving your age away, of course
Smile Oak Openings is one of our many Metroparks - it's in Swanton:

http://www.metroparkstoledo.com/metroparks/oakopenings/

Peaceful and beautiful, especially if you spy any of the deer that roam
there. There used to be a stable nearby that rented horses to ride
along the trails.

Marsha/Ohio
RMJCMT...
Posted: Tue May 13, 2008 8:14 pm
Guest
<< I asked her if we could go to Oak Openings. I thought it was in the
Toledo
area. She had no idea what I was talking about...bummer. >>

Yes, Anne, Oak Openings is in the Toledo area. Actually about 10 miles
west of Toledo in the Swanton area. It is beautiful. I used to go there
every now and then on my day off and enjoy. I don't know if it is a
state or county park. I liked it best in the late spring when all the
trees had new, bright green leaves, the ferns were coming up, and the
dogwood trees were in bloom. Didn't go much of anywhere in the winter...
all that snow and ice. Ugh.


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RMJCMT
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Anne V....
Posted: Tue May 13, 2008 9:49 pm
Guest
Oh wow, it had to have been at least 30-35 years ago. Do they still have
the color-coded trails? I remember my mom showing me the different shapes
of the leaves on the sassafrass trees when we were there, and yes, I
remember the stable. If I ever get back that way again during a human time
of year (somehow it seems like it's always January when I get to Ohio), I'll
have to see if it's still as beautiful as I remember.

Thanks, Marsha!

Anne

"Marsha" <mas at (no spam) xeb.net> wrote in message news:g0dcvd$c45$2 at (no spam) news.datemas.de...
Quote:

Hi, Anne. When were you here, without giving your age away, of course Smile
Oak Openings is one of our many Metroparks - it's in Swanton:

http://www.metroparkstoledo.com/metroparks/oakopenings/

Peaceful and beautiful, especially if you spy any of the deer that roam
there. There used to be a stable nearby that rented horses to ride along
the trails.

Marsha/Ohio
Anne V....
Posted: Tue May 13, 2008 9:53 pm
Guest
Thanks, Ruth; I knew I hadn't dreamed it!!! I absolutely loved that place.

How are you liking Tucson? I miss the mountains!

Anne

"RMJCMT" <RMJCMT.39dlyj at (no spam) no-mx.forums.yourdomain.com.au> wrote in message
news:RMJCMT.39dlyj at (no spam) no-mx.forums.yourdomain.com.au...
Quote:
Yes, Anne, Oak Openings is in the Toledo area. Actually about 10 miles
west of Toledo in the Swanton area. It is beautiful. I used to go there
every now and then on my day off and enjoy. I don't know if it is a
state or county park. I liked it best in the late spring when all the
trees had new, bright green leaves, the ferns were coming up, and the
dogwood trees were in bloom. Didn't go much of anywhere in the winter...
all that snow and ice. Ugh.


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RMJCMT
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