Free for a small price
So, getting tired of dropping cash into that money-pit car of yours? Sick of that old jalopy that barely runs? Wondering if there is any hope for you? Well, your prayers are answered, it's Oprah to the rescue! Now you get a $28,500 car for free!! YES!!
But you forgot to read the fine print. Always there is fine print.
Turns out, you have to report that as income when you file your taxes, so the Government can tax you on it! That free $28,500 car could become over $7,000 in taxes!! That's much more than your beat up old junk car is worth. Isn't income tax great? The idea behind the big car giveaway was part of Oprah's "Wildest Dreams" campaign. All the winners of this new car had a family member or friend vouch for them that they had no car, were in dire need of a car, or currently have a trash bin on wheels. A free car is great, but many of us don't have even $7,000 to shell out on a new car.
Why can't there be a big gift without a catch for once?
Read the fine print...
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