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It is postulated in the championship/race rules

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Q: In Karting how much prize money are you allowed to keep?
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Do US Open amateurs get to keep prize money?

No, they get no money. Just prestige.


Can a sitting president keep Nobel peace prize money?

No


Are you allowed to keep a lot of money at home?

You can keep a lot of money at home if you want to. As long as you have legally earned money, you do not have to keep it in a bank. It may be safer in a bank but you can keep it in your home.


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Mother Teresa donated all of her Nobel Peace Prize money to the poor and needy in India.


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Did Obama was allowed to keep the money attached to his Nobel prize anyways-US presidents are not allowed to take with them any gift received during their mandate-Does this rule apply in this case?

Apparently, he IS allowed to keep it. And supposedly, he's "giving it to charity".However, I'm assuming that whether he gives it away or not, it will still be assessed to him as "income" on his taxes at the end of the year.Luckily for him, charitable donations are "tax deductibleSo, to confuse the issue even further, he wins, is scrutinized, gives away the money, is taxed on it and receives a huge refund because of his substantial charitable donations.In the end, he get a lesser percentage, but still gets the money.What did Obama do do deserve to win the Nobel Peace Prize anyway?Is it for his "vision"?Martin Luther King "had a dream" and he never received a Nobel Peace Prize. Not even posthumouslyPresident Theodore Roosevelt won the prize in 1906, as did President Woodrow Wilson in 1919. Former President Carter had been out of office for more than 20 years when he won in 2002. Former Vice President Al Gore shared the prize in 2007.The nation is split on this issue, I suggest we keep an eye on it and see what further transpires....-JC


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When is prize money taxable?

Prize money is typically taxable in the year it is received. It should be reported as "other income" on your tax return and may be subject to federal and state income taxes depending on the amount and your individual tax situation. Be sure to keep accurate records of any prizes or awards you receive.


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Services the first banks provided included storing and protecting money. They allowed individuals to keep their money in one place with minimal risk.


What services did the first banks provide?

Services the first banks provided included storing and protecting money. They allowed individuals to keep their money in one place with minimal risk.