- 11,207
- Adrian, Mich.
- cargorat323
- CargoRatt
2014 North America Discussion (US & Canada)
- Thread starter scca_ziptie
- 1,618 comments
- 105,204 views
- 53
- Cleveland, OH
- ChipChaserJ
I'm ashamed of my leaderboard position, next year I will just play under a secret account name.
- 541
- California
- GTP_billyjoebobx
You win First Place in the Most Awesome PSN ID Ever category. 
- 6,290
- Washington State
- OutlawQuadrant
Update coming in a few minutes. I just had a long session where I had so many low 15s but a .189 is all I could get.
Edit: Done. Cutoff time is right at the 2:16 mark.
https://docs.google.com/spreadsheets/d/14H3TkMwl1YGgJjX5TsUVmSu8c8FKgcLfs2zM6nNEZsw/pubhtml
Edit: Done. Cutoff time is right at the 2:16 mark.
https://docs.google.com/spreadsheets/d/14H3TkMwl1YGgJjX5TsUVmSu8c8FKgcLfs2zM6nNEZsw/pubhtml
Last edited:
- 311
- Naples, Maine, USA
- gatordaryl
- 880
- New York
are you planning to take part in the future?
- 311
- Naples, Maine, USA
- gatordaryl
- 1,837
- Fullerton ca
- TRL_Importlife
As of right now there are 8 people in the top 30 who don't count
Either there to young or they went to silverstone already or they just
Don't plan on attending nationals so the cut off right now is #36 👍
All get are email saying that we made national they want copy of your id
Just an FYI
Either there to young or they went to silverstone already or they just
Don't plan on attending nationals so the cut off right now is #36 👍
When is your birthday cause you'll need to be 18 before July cause when we
All get are email saying that we made national they want copy of your id
Just an FYI
Last edited by a moderator:
- 4,605
- United States
- carracerptp
I'm now 99% sure I'm not going. I don't have much time to practice the TT and right now I don't have the money or the time for it ( taxes, time away from work ).
Put me down as a no show ( GTP_Carracer )
Put me down as a no show ( GTP_Carracer )
- 845
- California
- VELOCI_2NR
Taxes really aren't that expensive. I mean you're looking at maybe 300 buck for the whole thing and if you live close to NY, you can drive and pay less in taxes.
The time off work part is tough. Your boss wouldn't give you a week if you made it to silverstone? The finals are over the weekend IIRC, so unless you have a weird job, you should be OK. But all in all, that is really sad to hear. It really sucks when life gets in the way
I'm sure you would have gone far
- 311
- Naples, Maine, USA
- gatordaryl
Now they (Nissan/Sony) are sending 1099's for the value of Silverstone as well. I heard the taxes for some finalists (with avg/high tax brackets) was approximately $5k. That's certainly something to know in advance ...
For those that don't have a job or are students, it's pretty much not a big deal. For others, the financial side of the contest could be shocking come tax time the following year. Not saying that the trip and experience isn't worth $5k ... I wouldn't know ... Maybe it is.
For those that don't have a job or are students, it's pretty much not a big deal. For others, the financial side of the contest could be shocking come tax time the following year. Not saying that the trip and experience isn't worth $5k ... I wouldn't know ... Maybe it is.
- 4,605
- United States
- carracerptp
300 would be great but I remember reading the 2013 guys paid over 3K in taxes? Did I miss something?
I'm a freelance web developer so I get to work twice as much for half pay. Plus I'm helping my parents buy and update a house.
I just wish I didn't have problems last year stopping me from going. Would have been better.
I'm a freelance web developer so I get to work twice as much for half pay. Plus I'm helping my parents buy and update a house.
I just wish I didn't have problems last year stopping me from going. Would have been better.
- 6,290
- Washington State
- OutlawQuadrant
In the US, presuming you make enough to file, the tax you'll pay depends on how much you make. I'll show an example based on last year's value of the prizes:
Finals - $3,000
Silverstone - $20,000 (estimate)
Total - $23,000
Let's say after factoring in all your deductions and whatnot, you have around $25K before you calculate the tax. Based on last year's tax tables, this is how much you would pay:
11,000 * 15% = 1,650
12,000 * 25% = 3,000
Total = $4,650 Additional Tax
That number is different for everyone but I'd say that's a ballpark figure.
Finals - $3,000
Silverstone - $20,000 (estimate)
Total - $23,000
Let's say after factoring in all your deductions and whatnot, you have around $25K before you calculate the tax. Based on last year's tax tables, this is how much you would pay:
11,000 * 15% = 1,650
12,000 * 25% = 3,000
Total = $4,650 Additional Tax
That number is different for everyone but I'd say that's a ballpark figure.
- 845
- California
- VELOCI_2NR
That changes things quite a bit. I was unaware of that. I could not have afforded to go to silverstone had that happened in 2012. I was barely able to afford the 300 for takes from the 3k national finals.
- 4,605
- United States
- carracerptp
- 21
- nofearmx94
There is no way to write that off or at least some of it?
- 6,290
- Washington State
- OutlawQuadrant
That's the unfortunate reality I face as well.
I had this discussion with someone else but the caliber of people with experience at last year's finals was so high, even if they had given me a GT-R with paddle shifters, there was no way I would've made it through. Doesn't matter because I'd rather not go to Silverstone unless I thought I had a chance to win it all. That would mean thousands of dollars sunk into track days on top of what I would pay in taxes which comes out to something approaching or even past $10K easily.
I'm sorry but while I do enjoy racing and Motorsports in general, this isn't a dream I'm willing to put that much into, knowing that the odds are so stacked against me. I know others want this far more than I do and have sacrificed body, soul and cash into GT Academy. I give up my spot to them because this really isn't a contest for someone of my skills. If the grand prize was just a whole week of racing camp, I would change my tune.
Nope. Basically, the value of the prizes is treated as though it's money that you've earned. If you're familiar with any game show or contest that has a car prize, this is why most people take the cash option.
- 2,200
- montreal,canada
- GTP_Mike_Peperni / Mike_Peperni
Havent been able to give much effort so far, i think im at 2:15.6 , and wont be able to run again until deadline, im moving all my stuff to a new appartment and have so much things to do its unreal and i will not have internet back in time before the deadline.
at least im not eligible so its not that bad, but still would have known where i stand in my country.
Have fun guys and best of luck to all of you
and i will not have internet back in time before the deadline.at least im not eligible so its not that bad, but still would have known where i stand in my country.
Have fun guys and best of luck to all of you
- 357
- Delaware
- fizzer82
FYI, the amount on the 1099 doesn't necessarily have to be fully reported as income. If Sony reports the "average retail value" you can amend that to be a more realistic value of what you actually received. I did a little research before, will have to go back and get some better facts. Of course talking to a real tax professional is the way to go (even if it's just H&R Block).
