So on Monday morning (right after being on leave for 30 days) at work there was a Commander's Call where everyone is gathered in an auditorium on base (I'm an Air Force officer) and the wing commander starts talking about the Air Force club and why it is so good to be a member (I'm not really listening because I am a member) and then he starts talking about a contest the club put on where they were giving away 2 Chevy trucks (I thought maybe the winner was somewhere else). Then he says the winner is here at Laughlin (my base) and that the winner is in this room. I joked to my buddies that I entered that contest, but probably didn't win.
Then he announces the winner: Lieutenant Gary Rogers, THAT'S ME!
So I walk down to the stage in shock, felt kinda like being called down on the Price Is Right, and shake his hand and take a few pictures and then I go to lunch at the club where they interview me and take pictures with a truck brought down from the local Chevy dealer (not my actual truck).
you can see a blurb on the front page at http://www.laughlin.af.mil/news/story.asp?id=123435606
But enough on that, I actually am seeking a little help:
It is my understanding that I am responsible for the taxes on this truck ($45k) which basically doubles my taxable income. I think my base pay for the year this year is going to be $46k. So I am seeking advice from a CPA, if there are any around here (PM me and I can give you a call) or if anyone else has any tips/tricks.
Also hopefully I won't actually get a Silverado (It is my understanding at this point I can have $45k to spend on any GM vehicle).
And no, I'm not going to get a Corvette. It is an extra $10k for the base model and I am going to be going to Oklahoma for 3 months over the summer then moving to the Philly area around labor day so I think I want an SUV.
Then he announces the winner: Lieutenant Gary Rogers, THAT'S ME!
So I walk down to the stage in shock, felt kinda like being called down on the Price Is Right, and shake his hand and take a few pictures and then I go to lunch at the club where they interview me and take pictures with a truck brought down from the local Chevy dealer (not my actual truck).
you can see a blurb on the front page at http://www.laughlin.af.mil/news/story.asp?id=123435606
But enough on that, I actually am seeking a little help:
It is my understanding that I am responsible for the taxes on this truck ($45k) which basically doubles my taxable income. I think my base pay for the year this year is going to be $46k. So I am seeking advice from a CPA, if there are any around here (PM me and I can give you a call) or if anyone else has any tips/tricks.
Also hopefully I won't actually get a Silverado (It is my understanding at this point I can have $45k to spend on any GM vehicle).
And no, I'm not going to get a Corvette. It is an extra $10k for the base model and I am going to be going to Oklahoma for 3 months over the summer then moving to the Philly area around labor day so I think I want an SUV.
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