Re: Don\'t be fooled!! The Rake is ......
If your hotel was comped, you still have to pay for some of it.
Say the comped hotel room was worth $200. Then that's $200 profit you made, which results in about $66 (assuming 1/3 tax for simplicity's sake) that goes to uncle sam.
The comped hotel is income. I've read about someone being hit 80 grand or so by the IRS for not reporting comped rooms/buffets.
|