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snap-on $45000 truck give away

2K views 21 replies 19 participants last post by  stroked350 
#1 ·
just like the title says. snap-on had a drawing for a 45000 dollar truck give away for 5 states in the mid eastern area and i somehow won it.:D:D:D the rules are you have to buy a TRUCK that cost up to 45000 or buy 45000 in snap on tools. well i opted for the truck. i get to choose the truck and im thinking an :ford:09 f350 SD.:ford: what do ya'll think. o by the way i only plan on keeping it for a month. the damn taxes alone in virginia will bankrupt me if i keep it.
 
#3 ·
You lucky S.O.B. :flipa: I never get THAT lucky.
 
#6 ·
The taxes cant be that bad
 
#9 ·
why not get the truck and sell your current tuck for taxes/ a little cash in your pocket?
 
#11 ·
o by the way i only plan on keeping it for a month. the damn taxes alone in virginia will bankrupt me if i keep it.
Tools or Truck - Either way, you'll be stuck with the Federal and state taxes - plan on 30-33% for the Fed - $15000. I don't know about the state!!
 
#14 ·
like i said i already have all the tools i need. i just talked to the regional manager at the dealership i work at and he said the could order me any car and rather then take the car it'd go in thier inventory and they'd write a check for 45k once snapon paid for it. i'll still get taxed like a mofo on it though. not sure about the new SD. its very nice but i forgot i was driving in a truck. maybe im too used to the rough feel of the obs.
 
#15 ·
Hold up. If I understand your last post correctly you will order the vehicle and snap on will pay for it, but you don't take possesion of said vehicle and let the dealer get it. Then they stroke you a check for 45K? If that is so then you would have 90K in income to pay fed and state taxes on. Either way you are going to get a tax form in the mail from Snap-on for 45K that you will owe taxes on. I would talk with a CPA or tax lawyer and see what you will be paying in taxes and maybe they can recommend your best course of action.

If it was me I would get a new truck and sell my old one to take care of the taxes and such. Of course the other option is to take the 45K in tools and Ebay or sell them some how and get cash. Maybe you can negotiate with them and take a cash option.

No matter what you decide to do, CONGRATS on the win.
 
#22 ·
im thinking of selling both and getting a SD. going to talk to a tax accountant next week to see what my best course of action will be. more than likely i'll set about 15k aside till next year when taxes come. but sell the obs and get a new SD. im thinking 6.0 but im kind of found of the 7.3. what should i ask for the obs. im thinking 8 or 9k but that may be a bit high.
 
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