Hot Tub Forum
Original => Hot Tub Forum => Topic started by: drewstar on May 24, 2007, 10:33:18 am
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What happened to the topic about the Hotsprings contest? For the life of me, I can't find it.
????
For those who entered, HOtpsrings has updated thier page AND THE WINNER.....
Will be annouced After June 1. :P
Stayed tuned Skellman, and I think Wm also entered. :D
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June 1st? Dang, oh well I was reading the fine print and it says you have to take delivery of the tub and the warranty is not transferrable. Since we just had our vanguard installed yesterday what would I do if I won the Aria? Kind of hard to sell a tub without a warranty.
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And the tubs MSRP will be considered "income" by the IRS. Put 30% of the MSRP away for April 15, 2008 ;)
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Can anyone enlighten me as to what accessories come with the spa? I don't remember and I just checked the site but, couldn't find the rules.
The reason I ask is if I'm lucky enough to win, I want to make sure I have the funds set aside for what I'll need to purchase. As well as what Uncle Sam will require.
I know some of my tub fund will go to a trip to Memphis at the end of June for the AAU basketball championships. However, my son understands the total infatuation I have for getting a tub. He is doing alot of fund-raising to help with the costs of the hotel etc.
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I can't find the rules cached on google...but I belive it's the same as the Caldera contest (I belive when I spoke to either Jaq in Marketing, or JEff Z, I was told they are running all the watkins contests from her office).
You win (I think)
Hot tub, (choice of colors shell and cabinet) Matching Cover, and Delivery. Tub includes the Sub panel box, like all watkins tubs. ;)
Steps and a cover lifter are your $$. Stereos, ozone etc, unless standard on the tub are not included.
I bleive the MSRP on the tub is 11,500.. assuming a 30% tax bracket, thats $3450 for the IRS. Also don't forget electrical work, and a pad to place the tub on.
Good luck. :)
My tub (which hopefully is somewhere en route to MA!) is putting me out over $4.5K. (Taxes, lifter, steps, extra filter, and upgrade to my exisitng pad area.)
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My tub (which hopefully is somewhere en route to MA!) is putting me out over $4.5K. (Taxes, lifter, steps, extra filter, and upgrade to my exisitng pad area.)
That's a nice "free" tub! ;)
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The bummer of this contest is the non transferable warranty. If I happened to win I would want to sell the spa and try to get $7k out of it. That would make my current hottub almost free. However the warranty issue really puts a damper on reselling.
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I knew what I was getting into when I entered the contest. I'm thrilled. Just as long as it GETS HERE SOON. I'm dying without a tub.
My dad aways tells me the story of a friend of his who went on the old game show "Concentration" (and won a lot of great prizes (Fur coats, TV, appliances, etc, but no cash). He declined half the stuff because he didn't want the taxes. A free fur coats sounds nice, but if you need to give the Goverment $6000, it hurts. Sure, it's worth $20K but if you don't have that kind of money, you can get yourself into trouble.
One year I won this at BJ's wholesale club:
(http://i77.photobucket.com/albums/j61/GodlikeMoron/car2.jpg)
We had a ball with it, but our taxes shot up $400.
I wasn't thinking at the time, and although the gokart was fun, I'd rather have spent that $400 on something else.
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drew- keep us updated.....
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Ok, Drewstar, let me get this straight.
Last year you won a go-cart at BJ's
This year you won a Caldera Geneva Spa.
I am beginning to think you have the magic red sweater or something. :) ;D
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Ok, Drewstar, let me get this straight.
Last year you won a go-cart at BJ's
This year you won a Caldera Geneva Spa.
I am beginning to think you have the magic red sweater or something. :) ;D
Booga booga ;D
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My dad aways tells me the story of a friend of his who went on the old game show "Concentration" (and won a lot of great prizes (Fur coats, TV, appliances, etc, but no cash). He declined half the stuff because he didn't want the taxes. A free fur coats sounds nice, but if you need to give the Goverment $6000, it hurts. Sure, it's worth $20K but if you don't have that kind of money, you can get yourself into trouble.
This reminds me of the yearly flame wars on the hgtv.com "Dream Home" forums. For those of you who don't watch HGTV, the network gives away a "dream home" every year that's worth several million. Many people on the board think that people who enter with the intention of selling the house if they win are somehow "cheating", & that the contest should only be open to people who actually plan on keeping the house. Meanwhile, people grounded in reality (and with real jobs) point out that the only way to keep the house would be to take out a huge home equity loan to pay the taxes. The monthly bill on the loan would then be more than most people could afford.
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ACtually, "Dream House" they give you $250,000.00 to help you out.
But yea, I'd sell it.
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No joke. Sell the home, pocket the $250k, invest and keep working my normal job. In 5 years or less you would be able to retire.
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man still no update on the hotsprings contest. What gives? June 1st was almost a week ago.
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As far as the taxes go - you can pay taxes on a lower amount if you can prove that the lower amount is a common selling price. For example, the spousal unit and I won an all-expense-paid trip to Europe which had a value of well over $10,000. We shopped on line, and found tickets and hotel reservations for far less. Then we got a list of the trips and outings offered - they automatically charged us as if we went on all of them - and we narrowed that down to what we actually participated in. It took some effort to document all of this, but we saved several thousand dollars on our income tax when the 1099 showed up.
I would be willing to bet that you could do the same with this tub - shop and find actual prices, "street prices" as they say, and pay your taxes based on those.
8-)
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No joke. Sell the home, pocket the $250k, invest and keep working my normal job. In 5 years or less you would be able to retire.
cburk,
If I GAVE you 250k you could retire in 5 years? :o How old are you 57?
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well maybe not retire for good but at least work parttime at a job where I wouldn't have to make much. I was over estimating. However with $250k I could pay off all my debt and in less than 10 years have well over a million to invest. So yeah $250k would be life changing for me. My goal is to be totally debt free by the age of 36. I am turning 30 this week.
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I was really hoping that they were going to make the announcement on June 1, as that was our wedding anniversary, and I would have loved to tell my wife I got her a tub for an anniversary present. We were unable to do anything last weekend do to our work schedules, so we're going out for dinner tomorrow instead. So, if anyone from Hot Spring is listening, tomorrow would be a great day too...
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They have announced the winner.
It's not me.
It's not Drewstar
I'm relieved. I was beginning to sweat the tax issue.
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They have announced the winner.
It's not me.
It's not Drewstar
I'm relieved. I was beginning to sweat the tax issue.
Really? Where did you see that? I just checked the web site and it still has the June 1st message.
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30th ANNIVERSARY CONTEST
Congratulations to our lucky winner — Marfilyn, located in Cheshire, CT
http://www.hotspring.com/About_Hot_Spring_Spas/contests_spa_promotions.html
:D :)
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30th ANNIVERSARY CONTEST
Congratulations to our lucky winner — Marfilyn, located in Cheshire, CT
http://www.hotspring.com/About_Hot_Spring_Spas/contests_spa_promotions.html
:D :)
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I have some very good friends who put togethor a great entry (The best I've ever seen) and was hoping they'd win. Oh well.... Congrats to the winner! It's an excellent entry!
What's the next contest? Tiger River? 8-)
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As far as the taxes go - you can pay taxes on a lower amount if you can prove that the lower amount is a common selling price. For example, the spousal unit and I won an all-expense-paid trip to Europe which had a value of well over $10,000. We shopped on line, and found tickets and hotel reservations for far less. Then we got a list of the trips and outings offered - they automatically charged us as if we went on all of them - and we narrowed that down to what we actually participated in. It took some effort to document all of this, but we saved several thousand dollars on our income tax when the 1099 showed up.
I would be willing to bet that you could do the same with this tub - shop and find actual prices, "street prices" as they say, and pay your taxes based on those.
8-)
Really?
Cool.
Chas, would you be willing send me a written quote on a 2007 Geneva Utopia stating what you sell it for?
I am sure I could get a few others. I would very greatful .
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Looks like they gave it to a deserving family.
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30th ANNIVERSARY CONTEST
Congratulations to our lucky winner — Marfilyn, located in Cheshire, CT
http://www.hotspring.com/About_Hot_Spring_Spas/contests_spa_promotions.html
:D :)
I'm suspecting a New England bias to these contests!!!! ;)
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I'm suspecting a New England bias to these contests!!!! ;)
Well we are the funniest, clerverest, bestest writers of hot tub reasons in the world. We have a lot of smartatude.
I wonder, if like the Caldera contest, dealers like Chas were able to vote for the finalist?
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Well we are the funniest, clerverest, bestest writers of hot tub reasons in the world. We have a lot of smartatude.
I wonder, if like the Caldera contest, dealers like Chas were able to vote for the finalist?
Actually, I think there's a guy from Texas who's best known for his "smartatude."
They do sound like a deserving family, but I like Drew's entry better. I still laugh at the Water Pik part...
Of course, the BEST entries for both contests didn't win. I guess I can't fault the Hot Spring people- they spend all their time making spas, they don't know REALLY good writing when they see it.
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. However with $250k I could pay off all my debt and in less than 10 years have well over a million to invest. .
If you put $250K in the market today, you would need to average approximately 15% per year to have $1MM in 10 years. Let me know where you can average 15% per year. :-/
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If you put $250K in the market today, you would need to average approximately 15% per year to have $1MM in 10 years. Let me know where you can average 15% per year. :-/
I think you read his post wrong....
If he pays off all his debt(using the $250K) AND continues to work, in 10 years he could save up 1M that he could then invest.
That's not an unreasonable statement.
And we are all forgeting any after tax profits from selling the million dollar home we won. ;)