Axiom Home Page Forums General Discussion The Water Cooler The beginning of something special ?

Is it true that the winner buys beer and lobster tails for everybody?

Sid - I will post the last of the day's tix before crashing... and yes, that Big box will look great in your home ...

Of course - There may be a few who disagree ...

OK....I just purchased my second ticket.

i just put in for two tickets. i was worried i'd come back from the beach and all the tickets would be snatched up!

I'm sending my check this morning,
I only hope that I'm not too late.
I saw nothing on the thread to indicate that all the tickets were gone.
Great, great idea Craig.
Bravo!

PS;
If I've missed this drawing, feel free to keep the check for the next one!

Seabear - Did you get one or two ? With mail the way it sometimes can be, I will "save" you your tix pending arrival of the check ...

Guys, I'm not a lawyer or an IRS agent, so please understand that I'm just an amateur trying to help my friends. Prior to my current position, I worked in University development (fund-raising) for ten years, including responsibility for gift records. Consequently, I spent a fair amount of time on tax-deductibility in the US.

Albeit for an excellent cause, this project is a raffle. I've seen several folks post that they are making a "contribution" or "donation" and I think that is a good and proper way to think about the transaction. However, since you are receiving potential value far in excess of the amount of the ticket, the cost should not be written off as a charitable donation for IRS purposes, even for non-winners. Depending upon the rest of your return, you *might* be able to count it as a gambling loss.

Sorry to be such a buzzkill.

That's OK. I just have to increase the number of 'business lunches' I have per month and it will cover the difference.

I'm joking, of course. Or am I? Hmmmmm...

Not a bad idea. I am paid $35 a day per diem for food. I geuss I can only spend $10 today. A good way to rationalize it anyway.

Tom, I do a little tax work(and also contribute tax, investment and estate planning advice on another board)and you're correct that the cost of raffle etc. tickets, even if sold for a charity, aren't deductible. Just to be even more of a spoilsport, another relevant tax point is that the winner is required to report the value as "other income" on line 21 of Form 1040.