Cash Prize Contests
Cash Prize Contests
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- 8 Responses
- JG_LB
What's the deal when you win cash prize contests? Do they just give you the money, do you have to submit an invoice, are there taxes that come out of that? Anybody have experience with this?
- waterhouse0
You have to claim with it your annual filing.
- yeah so i guess it doesn't matter how you receive the moniesJG_LB
- _niko0
lol, only in America! probably.
In Canada cash winnings including all lotteries and casinos are 100% tax free... as it should be.
- but I should add, Canada is also a money launderers paradise so what do we know._niko
- that's how they make money. or maybe Canada just doesn't have $500 mill jackpots. They make it sound better if they take out taxes.omahadesigns
- omg0
- omahadesigns0
If they're legit, they get your info to cover themselves.
You're responsible for declaring it. They declare it as an expense.
- omahadesigns0
P.S. share the wealth.
- dbloc0
pay someone to upgrade QBN a bit