So whoever wants to split a large ticket pack with me, pm
The ROI is going to be terrible, no?
In this case there's no minimum, so in theory you can price in the odds that the raffle is done with a few tickets. Obviously, I hope for the shul that this is not the case.
In my opinion, you will sell much more tickets if you are more transparent. The communication seems a little off.
Exactly why I designed the first raffle to be as transparent as possible and the results blew me away.
I assume the prize is less than 300x the ticket and there's no 1099 issued?
Still taxable.
That wasn't the question.
Why ask the question in the first place unless you are planning to commit tax fraud.
@Dan, let us know if an IRS IP address browses these forums so we know whether or not we need to claim the income...
And if you do, you better make sure your name isn't publicized as the winner