A report from Forbes is indicating that the 2014 Chevrolet Corvette Stingray — dismissed by Beyonce and awarded to Baltimore Ravens quarterback Joe Flacco for being named Super Bowl XLVII’s most valuable player when the confetti fell — could mean up to $25,700 in IRS taxes for receiving the keys.
Ah, taxes. However, if Flacco receives the vehicle and then donates it to charity, he would be able to deduct some $6,900 from how much he would owe. Yet if he simply orders General Motors to donate the vehicle to charity, the IRS will have to find another all-star athlete to pester. Still, if Captain Flaccon drives off with a spanking-new Stingray when it hits the market later this year, chances are he will be able to afford whatever taxes he will have to pay, considering the now-free-agent can command as much as a $15 million annual paycheck next season.
Comments
I’ll cover the $25k right now, in cash, if he signs er’ over to me.
Even though I think the tax is a load of crap, Its still a good deal, considering this thing will probably retail somewhere north of $60,000
Not to mention the sales tax he will have to pay when registering the car. Still a great deal that most of us would be happy to have.
I will pay them, eyes closed, today!
He can afford it several times over. Me? I guess it is a good thing I never win anything. I wouldn’t have enough money to pay the taxes.
Death and taxes, you can’t beat either!
Just wondering if the Vette is a stick or automatic? Does Joe have a choice?
We don’t know, but something tells me they’ll build it as per his request.
IRS=International Ripoff Service
If you don’t like the IRS, tell that to your Congresspersons (Representatives and Senators). If you voted for them, they have to comply to your wishes. Or, did you vote blindly for the Party and don’t care what the Fed do?
Americans get taxed less on income but more on sales than, for instance, Canadians. Helps the rich stay rich.
Well, considering that he will get a multi- year contract north of $100,000,000.00 I think he can afford the tax. Man that’s a lot of zeros!