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Winning Big: A Look Into Sweepstakes

In summary, the expert believes that the best way to write off expenses is to figure out how much of the expense is related to TPC (travel, phone, cable, groceries, etc.) and then write that off as a deduction.
Christ Follower
Gold Member
4,991
Does anyone here ever enter any type of sweepstakes?

I could really use a big haul of cash I wasn't expecting right about now. I don't do the publisher's clearing house thing or anything but I have been finding myself "entering to win" more often.

I watched this show on tv one time all about this lady that enters different contests for a living. She sits there all day entering different types of sweepstakes and wins all the time.
 
I don't but if I did, I know just what I would do with any money I won!!
 
  • Thread starter
  • #3
Do you think it's true that there has to be a winner? Or do you think it is all just a scam to get your info?
 
OWING taxes?I've been trying to figure out our taxes and it looks like we're going to have to pay. Yikes! Am I doing something completely wrong or did I just not plan appropriately? Of course no taxes are taken out of my PC pay BUT the real bad part is it's not worth it for me to itemize because we living in military housing, therefore we pay no rent or utilities so I can't claim any of these. My other deductions just don't add up to enough to make it worth it. Since this is only my second year filing taxes on PC income, does anyone have any advice?

Thanks much!
 
Debi,
Have you ever tried figuring your deductions? Are you writing off any of your PC expenses?
 
chefkugler said:
Debi,
Have you ever tried figuring your deductions? Are you writing off any of your PC expenses?

I did last year but I thought it said I didn't have enough or something. It was my first time EVER doing deductions or anything. Am I getting deductions and itemizing confused?
 
I write off 20% of my groceries for the year, all of my internet, 20% of my cable (because I watch the Food network), all of my cell phone, all the miles on my car. When traveling to Conference and Leadership, instead of keeping all your receipts, use the per dium rates. It is usually a lot bigger deduction than what you spend on meals and taxis. Make sure you write off everything that is in the "other income" on your 1099.

If you find yourself paying a lot to the IRS at the end of the year, you will be better off paying quarterly. You would probably get a refund then. Can your hubby change his deductions so they take more out of his check?

You can invest up to $4000 a year in an IRA and not pay taxes on that.

If you have a loan on your car, you can write off a percentage of your interest. (the percentage is based on how many miles you travel in a year, figure out what percentage of those miles are for TPC)

If you are going out to lunch with your girlfriends, make sure you talk TPC a little bit, then you can write off your meal because it was a business lunch.

Everytime you get in your car, make sure you are doing an errond that is TPC so you can write off your miles.

I'm trying to figure out how I can write off my Curves membership!:D

Michelle
 
wdpmap said:
I write off 20% of my groceries for the year, all of my internet, 20% of my cable (because I watch the Food network), all of my cell phone, all the miles on my car. When traveling to Conference and Leadership, instead of keeping all your receipts, use the per dium rates. It is usually a lot bigger deduction than what you spend on meals and taxis. Make sure you write off everything that is in the "other income" on your 1099.

If you find yourself paying a lot to the IRS at the end of the year, you will be better off paying quarterly. You would probably get a refund then. Can your hubby change his deductions so they take more out of his check?

You can invest up to $4000 a year in an IRA and not pay taxes on that.

If you have a loan on your car, you can write off a percentage of your interest. (the percentage is based on how many miles you travel in a year, figure out what percentage of those miles are for TPC)

If you are going out to lunch with your girlfriends, make sure you talk TPC a little bit, then you can write off your meal because it was a business lunch.

Everytime you get in your car, make sure you are doing an errond that is TPC so you can write off your miles.

I'm trying to figure out how I can write off my Curves membership!:D

Michelle


What is the per dium rate?
And as for Curves...wear logowear anytime you go, leave catalogs at the desk, etc...maybe then you could get away with it?
 
Thanks for all the advice! I did track all of these things for 2006 and we had a nice refund but I think I'm just still not sure what I'm doing.
 
  • #10
Debi said:
Thanks for all the advice! I did track all of these things for 2006 and we had a nice refund but I think I'm just still not sure what I'm doing.

this is why we use an accountant! well worth the $$$$
 
  • #11
I don't know what the per dium rates are. I just tell my tax guy that I spent this many days in this city.

Michelle
 
  • #12
I enter ones through magazines since i figure they already have my addy. I've never won anything though :(
 
  • #13
aww man...I was hoping this was the game "I never....." where you say something you have not done..and whoever has done it takes a drink
 
  • #14
I don't enter often... As much as I could use the money, I do agree the a big part of it is getting my info. It seems as though the ones that I have attempted online have screens and screens of endless information gathering and I always quit before I get to the end... sometimes it all just seems to personal
 
  • #15
Christ Follower said:
Does anyone here ever enter any type of sweepstakes?

I could really use a big haul of cash I wasn't expecting right about now. I don't do the publisher's clearing house thing or anything but I have been finding myself "entering to win" more often.

I watched this show on tv one time all about this lady that enters different contests for a living. She sits there all day entering different types of sweepstakes and wins all the time.

I saw one on tv like that too..the lady mailed in the sweepstakes..she said the key was to fill everything out correctly. that goes with teh size of paper if it is specified and fill out all the spots that are supposed to be.
 
  • #16
I don't. I figure they'll just sell my contact information and I'll end up getting junk mail.
 

1. What is a sweepstakes?

A sweepstakes is a promotional campaign where individuals can enter for a chance to win prizes or rewards without having to make a purchase or provide any consideration. Winners are typically chosen at random.

2. How do I enter a sweepstakes?

To enter a sweepstakes, you will need to follow the specific instructions provided by the company hosting the sweepstakes. This may include filling out an entry form, sharing a post on social media, or making a purchase. Be sure to read the rules and regulations carefully to ensure you are entering correctly.

3. Are sweepstakes legal?

Yes, sweepstakes are legal as long as they abide by local, state, and federal laws and regulations. This includes disclosing the odds of winning and not requiring any purchase or consideration to enter.

4. Can I increase my chances of winning a sweepstakes?

While there is no sure way to guarantee a win in a sweepstakes, you can increase your chances by entering multiple times and following the entry instructions carefully. Some companies also offer bonus entries for completing certain actions, such as sharing on social media or referring friends.

5. What happens if I win a sweepstakes?

If you are chosen as a winner in a sweepstakes, you will typically be contacted by the company hosting the sweepstakes. You may be required to fill out additional paperwork or provide proof of eligibility before receiving your prize. Be sure to read the rules and regulations to understand what is required of winners.

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