Uncle Sam Spoils Dream Trip To Space

gollum123 writes about a dream come true and a dream dashed. Brian Emmett, a software consultant from the San Francisco Bay area, entered a contest sponsored by Oracle in 2005. He answered some questions on Java coding, won a free trip into space, and then reluctantly gave it up. The latter decision came once he had computed the taxes he would have to pay on the $138,000 prize — roughly $25,000. From the article: "Since the Internal Revenue Service requires winnings from lottery drawings, TV game shows, and other contests to be reported as taxable income, tax experts contend there's no such thing as a free spaceflight. Some contest sponsors provide a check to cover taxes, but that income is also taxable."

A dream come true?

[Whiney Mac Fanboy]

It may have been a dream dashed for Brian Emmett, but it most certainly was a dream come true for headline writers [google.co.uk]. They leave no cliche unturned:

* There are no free rides to outer space
* Dream free trip to space brings black hole in wallet
* Win a free ticket to space? Read the fine print
* Taxes ... the final frontier for space rides
* Space tourism yet to take off
* Free trips to space pose some taxing dilemmas

etc etc etc.

Oracle should have made him an employee...

[adnonsense]

...then they could say they were sending him on a business trip and file it under expenses. ("Reason for trip: To boldly go where no DBA has gone before, to seek out new tablespaces and discover new, alien forms of indices").

(Disclaimer: I'm not an accountant or a tax geek so I don't know whether that would really work out).

I bet Larry Ellinson is laughing hard

[Anonymous Coward]

So am I. Is the consolation prize a sheet of acid tabs and a DVD of 2001? It always works for me.

Convergence

[Dachannien]

Some contest sponsors provide a check to cover taxes, but that income is also taxable.

Fortunately, this series eventually converges to values small enough to lose it amid the rounding error on your taxes.

Yes.

[n1hilist]

If you'd been following the recent story regarding China's lil' missile they used to destroy an old weather satellite, and then saw US's reaction and statement about it you'll know that America owns space, and possibly everything. :)

Besides, they are already floating lawyers floating in space, waiting.

Re:A dream come true?

[thefirelane]

Missed the obvious: "There's no such thing as a free launch"

Re:possible loophole

[will_die]

Yes, however if he spend 330 days out in space then he would get the expat tax break.

Re:About this taxes...

[HistoricPrizm]

Trip to space: $138,000 Taxes on trip to space: $25,000 Making a spelling error when complaining about someone else's grammar: Priceless

Sponsors

[Joebert]

I'm sure the Porn industry would pay 25K for the only video in existance of someone whackin in space.

There is no free launch

[OricAtmos48K]

There is no free launch

Re:A dream come true?

[Rogerborg]

I'll kill you! I've been waiting for a story to come along that fits that quote, and you posted it first. I'LL KILL YOU!

Re:Tax the organiser

[legallyillegal]

it's A taxman, not THE taxman!

Re:A dream come true?

[Jearil]

Steve? Is that you? Hey buddy.. we're kinda running low on chairs here you know. Could you perhaps maybe use a shoe or something this time?

Thanks a lot.

Re:Tax the organiser

[TapeCutter]

I thank you for not judging Aussies by our prime minister, I will return the favour. :)

Re:A dream come true?

[Anonymous Coward]

In other news, Rogerborg was arraigned [google.com] for conspiracy to commit murder Tuesday after authorities found a post on slashdot containing the word "kill."

"We're pretty sure this guy was a time bomb," said Police Chief Ed "Donuts" Warren, "I mean, he had a history of +5 funny moderations which really just hid a deeply troubled person."

"He should have been modded +5 Scary," said random, uninvolved soccer mom/faceless citizen Gina Tripoli, "Why isn't someone thinking of the children?"

DA Michael Turnbolt said he'd seek the death penalty. "Try to kill someone, or even use the word 'kill', and we can be 100% certain you are a bloodthirsty murderer. You don't deserve to live in a free society. Oh, I just used it? Well, I don't count, I mean, I'm a DA."

Re:A dream come true?

[darjen]

Taking the words at face value, a true believer. A brainwashed zealot. His mind is made up, don't confuse him with the facts. Truthiness! He feels it's true, with his gut. So don't waste time trying to convince the head with logic or example or reasoning. Digestive by-products would be more effective.

Right... and I would presume that your version of truthiness is that elected public officials really care about your current state of well being. After all, that's what they teach in public school textbooks, so it must be correct.

Re:A dream come true?

[Frogbert]

when going to trainstations, there's people who might try to beat you off just because you don't give them a cigarett or you look
too good for their liking or rich.

Sounds great to me.