Author |
Message |
Darclyte
Member
07-11-2005
| Saturday, September 08, 2007 - 3:24 pm
Kinda off topic but I'll get to BB near the end. People were posting about reality game show winnings and taxes. Here's what's worse. You know all those "makeover" shows? Extreme Makeover, EM:Home Edition, Tim Gunn's guide to style, Color Splash, Queer Eye, etc... Anything you get from those shows is taxed. They remodel your home, you have to pay taxes on the amount that was spent on the remodel for you. They give you a new wardrobe, you have to pay taxes on the cost of the clothes. They give you plastic surgery, you get to pay taxes on the cost. IRS looks at the stuff you received as "other income," they do not see it as a gift. If you win a contest for a radio station, I believe if it is over $500 they have to report it to the IRS and you have to claim it as income. Win a car, pay taxes. Go on Price Is Right, win prizes, pay taxes. There was a famous story about a guy who won a Lamborghini about 10-15 years ago. He had to pay an import tax, an emissions tax (as it didn't meet his state's emission standard,) and income tax on it. He drove it once, and had to sell it just to pay the taxes. The higher the prize, the larger the tax. Consider 2nd place will have to pay at least 25-33% in taxes, and the winner will have to pay the highest rate (33% I believe.) So, 2nd place gets anywhere from $33,500 to $37,500, and first place gets around $335,000 or so. Someone had posted that Jameka said if she won she'd tithe to 3 churches. If she tithes 10% to each, that's $33,500 to each and she nets $234,500. If she's smart, she divides the 10% into 3 relatively equal amounts (about $11,167) and would net about $323,830 or so. I don't know if she said she'd tithe if she got 2nd, and I don't feel like doing the math. I hope this answers most questions about taxes and prize winnings!
|
Pamy
Member
01-02-2002
| Saturday, September 08, 2007 - 3:31 pm
Curmutt, I think I heard that this veto can only be used on yourself, so only D/D can use it if they win
|
Pamilucy
Member
08-01-2006
| Saturday, September 08, 2007 - 3:35 pm
Is current house happenings discussion closed?
|
Milosmom
Member
06-10-2006
| Saturday, September 08, 2007 - 3:36 pm
Probably is, until the feeds come back up.
|
Tissy
Member
07-28-2003
| Saturday, September 08, 2007 - 3:37 pm
Seems like it Pami I was trying to answer your question regarding European BBs 
|
Pamilucy
Member
08-01-2006
| Saturday, September 08, 2007 - 3:39 pm
Thanks for trying Tissy. Funny- I have a twin sister and growing up I called her Tissy because I couldn't say Tami! :-)
|
Suzsmarmie
Member
07-26-2005
| Saturday, September 08, 2007 - 3:44 pm
Just to add to Darclyte's on the money post, the winnings are, of course, in addition to any income you've earned during the year. This doesn't sound like a big deal until you start crunching the numbers. I am a tax prep and have had people who won lottery money and boy oh boy that dawg can bite you..
|
Cndeariso
Member
06-28-2004
| Saturday, September 08, 2007 - 3:45 pm
Pamilucy, when the feeds are off the hgs for any length of time or they are sleeping for hours on end, the current house happenings discussion thread is usually closed because there isn't anything happening currently.
|
Carochar
Member
07-25-2005
| Saturday, September 08, 2007 - 3:49 pm
So can we chat here? [TOTALLY kidding, mods!]
|
Needlenose
Member
09-16-2005
| Saturday, September 08, 2007 - 3:50 pm
Does anyone know how Zach stated that he had "found God" (according to D&D)? I would love to know how and when Zach said it . . . I am sooo thankful and thrilled.
|
Curmutt
Member
07-09-2004
| Saturday, September 08, 2007 - 3:53 pm
Thank you, Pamy.
|
Bakerygirl
Member
11-03-2002
| Saturday, September 08, 2007 - 3:55 pm
Will the eviction be live on Tuesday?
|
Pamilucy
Member
08-01-2006
| Saturday, September 08, 2007 - 3:57 pm
Yes. Bakerygirl
|
Roxibalboa
Member
08-15-2004
| Saturday, September 08, 2007 - 4:00 pm
needlenose, I believe it was during his nominations speech, we have only heard talk of him saying it, not heard him actually saying it yet. Bakerygirl, yes eviction on Tuesday (and I believe the last eviction on Thursday)
|
Tntitanfan
Member
08-03-2001
| Saturday, September 08, 2007 - 4:01 pm
Most state lotteries withhold 10% - at least - of the winnings. Same is true of casinos on big wins. The OUCH comes with the difference in the 10% withheld and the 25-33% wed! I also do tax prep with TCE (Tax Counseling for the Elderly) - a free service sponsored jointly by AARP and the IRS! I believe my 12th year is coming up -
|
Tissy
Member
07-28-2003
| Saturday, September 08, 2007 - 4:04 pm
Do POV competitions usually take this long ?
|
Deeva
Member
07-26-2006
| Saturday, September 08, 2007 - 4:07 pm
They sometimes do Tissy...specially if it's endurance.
|
Costacat
Member
07-15-2000
| Saturday, September 08, 2007 - 4:11 pm
Or if it's something that only one HG can do at a time, and they have to "reset" between. It's possible each HG is isolated in a separate room and they are doing whatever the task is separately.
|
Cinder
Member
09-01-2000
| Saturday, September 08, 2007 - 5:28 pm
Any chance Zach gets to compete for HOH this time?
|
Peachie
Member
08-09-2001
| Saturday, September 08, 2007 - 5:32 pm
Yes Cinder, Zach will be able to compete in HOH this week. Tuesdays HOH comp. should be endurance, second part should take place Wed. between the two that did not win first part and then the winner from first part HOH and winner from Second part HOH will go head to head and winner of the third HOH will get to pick who to take to final 2.
|
Marmosquirm
Member
09-10-2003
| Saturday, September 08, 2007 - 5:40 pm
So does anyone know if Tuesday's live show is a real live show or a fake one?
|
Gldnlvr
Member
08-03-2007
| Saturday, September 08, 2007 - 5:41 pm
Why does Dick make such a big deal about whether BB will allow them to "split" the price money? If he were to win, couldn't he just give Dani as much of it as he wanted without anyone knowing? too bad, if she wins . . . I don't think she is interested in splitting!
|
Cinder
Member
09-01-2000
| Saturday, September 08, 2007 - 6:01 pm
Thanks. For some reason- I was thinking the 3 part usually took place one comp earlier- and maybe they changed it.
|
Sherbabe
Member
07-28-2002
| Saturday, September 08, 2007 - 6:49 pm
tues is a live eviction.
|
Cndeariso
Member
06-28-2004
| Saturday, September 08, 2007 - 7:34 pm
Q. does anyone know Zack's website? i've tried dolphincrash.com and that isn't it.
|