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Post by hoffa_nagila on Dec 15, 2018 20:56:56 GMT
I think the Goofs need to close that thread. Industry people may see it. It's already gone...
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Post by My Avatar Is A Hot Babe on Dec 15, 2018 21:08:51 GMT
NEVER FORGET So it looks like they can send you a 1099 for yearly prize value It looks like they can substitute which you may be able to leverage And the approx total value of 50k would be the only possible conflict point if push comes to shove Do you get 1099s from them yearly? Do you know what your total value has been thus far? I have no idea the value so far. In the first few years, it was about 100 CDs (including box sets) each year. A few years back, the number of releases dropped, as a result of changes in the music business. You should know the exact value to the penny since you’ve been paying taxes on that value as set out in the official rules. If you haven’t been doing that, not only is Rhino not hosing you, you have been hosing us for sixteen years. Do you think Mojo or Uncut or Rolling Stone or The NY Times pay taxes on the CDs sent to them by Rhino, or any label ? Those arent prizes, they are promotional materials, and are not subject to federal taxes. I think that has nothing to do with this and you’re only asking that question in an attempt to change the subject. I will also note that the rules you are claiming aren’t being followed specifically say that you are the pay taxes on the prizes. The subject is about not only what you are owed but also what you owe. You are whining that Rhino isn’t following the rules. You shouldn’t ignore the fact that you haven’t followed those same rules for sixteen years. Why do you care? Rhino never sent me a 1099 or anything indicating the value of what they sent me each year. These are clearly marked as promotional items, and most likely they wrote it off as a business expense- especially since the contest generated publicity and good will for the company, and was used for their promotion of their products. To quote James Mason in "North by Northwest " : "Why Leonard, I think you're jealous ".... Rhino is a drag. Get tough with it. A deal is a deal. Their QC is garbage and I just can't get on board with them anymore, especially with issues like this. Stick it to 'em. Then they should have sent me a statement every year indicating the value of what was sent to me. I would have no knowledge of the value: is it the list price? The wholesale price? Is it worth anything since it is clearly marked as a promotional item, and therefore not for resale? How would I even begin to assess the value of these items? Most likely, Rhino is including this as operating costs, no different than the CDs that they send to Goldmine or Q or the LA Times for review in order to generate publicity for their products. Like the RMAT winners did. Odd that so many are focused on the taxes that they believe I "owe"... Very curious... Without a statement from them, I have no way to assess the actual value of the prizes I received. Most likely they wrote it off as a business expense. I simply wrote a story about what is happening to me,. I thought this was a forum for music lovers, not tax accountants, You know, if Rhino ever brings back the RMAT and you win it, then feel free to follow your own advice... What he did is very legal and very cool. I skimmed over the document you posted and under the “1999 RMAT Rules” it clearly states “Winners are responsible for all taxes.” What Rhino is doing regarding operating costs and tax write-offs has no bearing on the taxes you pay. Perhaps you could have asked Rhino in the beginning to send you an estimate of value but that really isn’t their responsibility. At any rate the Rhino website you posted should have the value of the current items you are receiving. Do you not see the irony of complaining that Rhino is not meeting its obligation to you while you admit to not meeting your obligation to pay income taxes on your prizes? Because some seem to be obsessed with what taxes they THINK I should have paid. I thought on a music website, most would be more interested in, I don't know, maybe what I thought of the surround mixes on the Talking Heads box, or if Prince's "Piano and a Microphone " is worth getting. You know, like MUSIC stuff
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Felonious Spunk
Grant
Digitals downstairs to push the anal logs upstairs
Posts: 1,192
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Post by Felonious Spunk on Dec 15, 2018 21:22:17 GMT
Y’know, they’re probably right about the taxes. I mean, there’s an entry for that on the 1040 form. Just because Rhino didn’t go out of their way to provide that info, doesn’t let you off the hook for the taxes.
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Post by StevesPal on Dec 15, 2018 23:52:52 GMT
NEVER FORGET Because some seem to be obsessed with what taxes they THINK I should have paid. I thought on a music website, most would be more interested in, I don't know, maybe what I thought of the surround mixes on the Talking Heads box, or if Prince's "Piano and a Microphone " is worth getting. You know, like MUSIC stuff Not until you fill out your equipment profile, bucko.
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Post by Brick Wall on Feb 8, 2019 23:01:10 GMT
Not allowing someone to have the 3-CD Lindsay Buckingham box set that they earned fair and square borders on human rights abuse. Or maybe forcing someone to take a 3-CD Lindsay Buckingham box set is a human rights abuse. It's one or the other. Nowadays Clancy Lindsey can't even sing.
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