JorgeJ7

JorgeJ7

55p

22 comments posted · 1 followers · following 0

8 years ago @ HGTV Dreams Happen: Sw... - Enter Now for Your Cha... · 0 replies · +1 points

May the Lord's Blessings be upon you and your Family in Jesus' Name. Life is too short to be apart from the ones you Love. My 22 year old Son still lives with us with his Girlfriend , who is like a daughter to me , while they are getting their careers started. Believe me , I am in no hurry to have them leave. I pray the Lord provide the means for all of us to stay together.

8 years ago @ HGTV Dreams Happen: Sw... - Enter Now for Your Cha... · 0 replies · +1 points

My Family, consisting of four adults, would fit into this house just fine. However , being an avid Guitar player, I would need one of rooms for my Gear and my music, I totally agree that the dock should have been made larger for for more seating and entertaining under the roof. Hanging out on the dock , over the river is one of the major features of this location and the capacity should have been emphasized for gatherings and entertaining guests . I think almost anyone would make changes to some of the decor. I visited the house in Asheville too. By and large , they are thrilling concepts and they address every structural imperfection and make everything new. I found the same situation with watching the TV there. You have to turn your head to see the TV and it is a very impractical setup. However I look at it kind of like some relatives of mine who bought the Model Home at a new development. And yeah,it's always great to have a designer home. But they rearranged lots of things and kept about 70% of the decor.

The biggest concern, I agree with Dale. is that you have to be " Rich " to take possession of this home and live in it or keep it. You could wind up owing your state and / or Uncle Sam around $600K. The exact amount can vary, depending on your State's Income Tax. Hopefully , your State has no State Income Tax at all ! However,I found some good news , Taxwise , if you take the cash option. If you read the link another blogger posted , it seems you come out ahead with a new car, a boat and several thousand dollars where you can still afford to buy a nice home. With Uncle Sam totally paid off . Again the only variable is State Income Tax , where applicable. If I could , I would rather live in the beautiful Dream Home. But if I can't, the cash option is still of " the stuff that dreams are made of " !!! Thanks to HGTV for providing this wonderful option !!! Here is the link http://www.keypolicydata.com/blog-archives/2015/1...

8 years ago @ HGTV Dreams Happen: Sw... - Reliving the Remodel a... · 1 reply · +3 points

Thanks Snorkelboy , for your input, I deleted my original comment t since the information you provided is a bit more accurate as to how sweepstakes winnings are taxed. Unfortunately it's worse than I thought !!!
I live in Florida, which does not have a State Income Tax. So in my case , I would only liable for Federal Taxes on the value of the prize. However you were right that this is not a Capital Gains Tax. By definition A Capital Gains Tax is on income earned by the sale of some kind property that you own , not by property that you win. My apologies to anyone reading, for my earlier mistake . However , the end result is the same as you stated. You have to pay a tax on the value of the prize as added to your income at your new higher tax bracket 39.6 % for this year. Bottom line is , that such a steep tax that comes with winning a sweepstakes will melt that smile off the face of the winner in a hurry ... What a "JoyKill " !!!

Perhaps we can ask President Obama to issue an Executive Order exempting " HGTV Dream Home Winners " from having to pay these huge taxes on the sweepstakes ????

8 years ago @ HGTV Dreams Happen: Sw... - Reliving the Remodel a... · 4 replies · +1 points

Wow !!! That's a lot higher than even my estimates based on the article from " Investopedia " which was about 25% . I'm curious though, are you basing that on Federal Capital gains Taxes , combined with Arizona's Capital gains tax ? Also, how can the State of Arizona Tax you for winning a sweepstakes in Florida ( even though HGTV's parent company, Scripps Networks , appears to be based in New York ) ???. If , as I stated in my earlier comment, when combined with your present yearly income, it kicks you up into the highest tax bracket for the year of almost 40 %, then yes , you tax liability increases to around $600,000. Some dream home right ? I sure hope I'm wrong and miscalculating, and there is some tax loophole I'm overlooking. Please break it down for us !!! HELP !!! IS THERE A CPA IN THE HOUSE ????

8 years ago @ HGTV Dreams Happen: Sw... - Reliving the Remodel a... · 0 replies · +3 points

Been there already. Also went by the 2015 Dream home in Asheville NC.

8 years ago @ HGTV Dreams Happen: Sw... - Enter Now for Your Cha... · 0 replies · +3 points

Thank you Virginia ... BTW ... Cute Photo : )

8 years ago @ HGTV Dreams Happen: Sw... - Enter Now for Your Cha... · 0 replies · +2 points

Thank you CarSan. Good Luck !

8 years ago @ HGTV Dreams Happen: Sw... - Reliving the Remodel a... · 0 replies · +7 points

I am a big fan of Brian Patrick Flynn's " creative genius " and the amazing ideas that spring forth from his head. However, the strong Teal color of the master bedroom, may kick my " OCD " into "High Gear ". I don't know for sure, but I would have to sleep in the bedroom for a few nights , after I win the house ; ) before I can tell you if I am going to need a couple of cans of Glidden.

8 years ago @ HGTV Dreams Happen: Sw... - Reliving the Remodel a... · 0 replies · +5 points

People who live on waterfront property in Florida are keenly aware of the need to have an evacuation plan in case of a Hurricane. Often they have friends or relatives that live inland , that they can stay with and ride out the Hurricane. I remember that when Andrew was approaching , my wife and I decided that we would take some of my accrued vacation time and headed up to Washington DC. A decision we did not regret, as it took a week to restore power to my neighborhood. We had no pets , at the time to worry about. It also helped that we had a generous property and flood insurance policy to cover damage and even the food that spoiled in the fridge .

8 years ago @ HGTV Dreams Happen: Sw... - Enter Now for Your Cha... · 5 replies · +6 points

Wow ... Our comments have been flushed !!!