Enter to win free trip to Hawaii $100,000 value!

[duddys]

http://travelchannel-thetrip.promo.eprize.com/

There’s more to the Hawaiian Islands than you think. Explore its unique islands and discover an unexpected world beyond Hawaii’s iconic landmarks. Where the culture is unique, the people are full of aloha, and beautiful, hidden spots are even more memorable when they're stumbled upon. The Hawaiian Islands. #LetHawaiiHappen.

The ultimate itinerary includes:

Round-trip first-class air for winner and 1 guest to and from Maui, HI14 nights’ first-class hotel accommodations throughout the Hawaiian Islands (4 nights on Maui, 3 nights on Kauai, 3 nights on Lanai and 4 nights on Oahu)Island-hopper flights between islandsAcrobatic ride and air tour of Oahu in a 1940s Stearman biplanePrivate Napali kayak tourPrivate tour of Pearl HarborPrivate tour of the Honolulu Fish Auction, including breaking down a giant ahi tunaScuba dive or snorkel through the “Cathedrals” of LanaiPrivate helicopter tour of the volcanoes, including a hike through Hawaii Volcanoes National ParkRappel alongside a waterfall in MauiZip-line excursion at Piiholo RanchHelicopter tour of Manawaiopuna Falls (made famous in Jurassic Park)VIP dining at Alan Wong’sDay out with chef Mark NoguchiMixology lesson at Pint & Jigger pop-up bar1-day motorcycle rental and riding tour in KonaPrivate boat excursion, including an ocean swim with wild dolphinsTour of Kahua Ranch and ATV adventure$25,000 spending moneyLuxury car rental for the duration of stayAll taxes related to accommodations and airfareTEAM traveler management services, including telephone contact and correspondence, securing of liability releases, scheduling of travel dates and 24-hour toll-free telephone assistanceTEAM professional travel planning and coordination, including a dedicated travel specialist, booking and coordination of air, hotel and activities, and preparation of a day-by-day itinerary enclosed in an official travel document case with all necessary vouchers for travel and activities

[Ergel]

A 40K tax bill. No thanks

[yaakovl]

A 40K tax bill. No thanks

15 only, they give 25 spending money

[myb821]

15 only, they give 25 spending money

still a 40k tax bill.

[skyguy918]

still a 40k tax bill.

Point being that if you hold onto the $25k and pay your tax bill with it your net additional taxes is not $40k obviously.

[yos9694]

Donate the prize to a charity and take the $100k deduction instead.

[Ergel]

Incorrect. You'll deduct the $100K from the $100K you'll report for taking the prize, leaving you with no deduction

[Palm5]

Donate the prize to a charity and take the $100k deduction instead.

Can I come work for you? Lol

[yos9694]

Incorrect. You'll deduct the $100K from the $100K you'll report for taking the prize, leaving you with no deduction

Really? Can't I donate the proceeds without taking it as income if I never receive the benefit? I am no accountant but I do this all the time with capital gains, oldest trick in the book. Maybe it wouldn't work for this kind of thing but I don't see much diffdrence.

[yos9694]

Can I come work for you? Lol

Yeah haha. That assumes a 100k deduction would be useful.... maybe if we reported all our miles as some would have us do.

[cholent]

You could just take the 75k cash option instead... and then enjoy a trip to Hawaii with your points 

[henche]

Incorrect. You'll deduct the $100K from the $100K you'll report for taking the prize, leaving you with no deduction

+1 lol

[henche]

A 40K tax bill. No thanks

A prize like this should really include a tax gross up.  Ridiculous.

[Ergel]

A prize like this should really include a tax gross up.  Ridiculous.

Indeed. Or just become Canadian and renounce your US citizenship. No tax on winnings

[Ergel]

Really? Can't I donate the proceeds without taking it as income if I never receive the benefit? I am no accountant but I do this all the time with capital gains, oldest trick in the book. Maybe it wouldn't work for this kind of thing but I don't see much diffdrence.

Just because you do something all the time doesn't make it legal

[avromie7]

can anyone confirm that this is legit

[Ergel]

Why would you think otherwise

[henche]

Really? Can't I donate the proceeds without taking it as income if I never receive the benefit? I am no accountant but I do this all the time with capital gains, oldest trick in the book. Maybe it wouldn't work for this kind of thing but I don't see much diffdrence.

It works with cap gains because there is no realization event, so you never recognize the gains.

But here, you didn't previously own it. So first you will need to own it before you can donate it. When you take possession, that is income. When you donate, that is a corresponding deduction. But you can't donate if you never possess.

This is the same as the reason that you can't get a deduction for volunteering.  Because you'd first need to include income in the exact same amount.

I'm no accountant either.

[avromie7]

Why would you think otherwise

if you go to my website you'll get a free car for being the 100,000th visitor

[Ergel]

Except this is a real website