Author Topic: Taxes on Game Show Winnings (Read 9735 times)

TLEberle · « **Reply #30 on:** December 03, 2008, 10:48:54 PM »

[quote name=\'jybt\' post=\'202778\' date=\'Dec 3 2008, 10:13 AM\']That's what she had said, and if she knows what the taxes are, she would know how much she needed...[/quote] This is interesting. You mention her interview with some of the contributors of Game Show News Net. I happened to be present, and got to ask her a few questions. She seemed very nice, and her cause was noble and just. And maybe you're right, that she needed a few thousand dollars more to get to the point where she could donate $100,000 of after tax winnings (and I'm not even sure she had to calculate after-taxes.)

She still closed the little case and said "NOT ENOUGH! NO DEAL!"

What I don't understand is that you seem to be stuck on two things. The first is abdicating all responsibility of the contestants to size up their situation and make a choice based on that. I don't understand that at all. If you have a "goal" of $250,000 and $235,000 comes up on the board, you still can choose to bail if you want, you don't have to soldier on. The other is that you seem to see the game as existing in a vacuum where players always have to play the game exactly as you see it in 20/20 hindsight, otherwise they're greedy or cowardly, depending on the outcome.

The problem is that you seem to be approaching the show as a math problem or thought exercise, and you sound like a complete fool when you do so. (Not that it's going to stop you or cause you to rethink your process, I'm just throwing that out there.)

I am very curious to see if you're actually going to respond with something that makes sense, or if you're just going to stay in your fantasyland.

DrJWJustice · « **Reply #31 on:** December 03, 2008, 11:13:46 PM »

[quote name=\'jybt\' post=\'202764\' date=\'Dec 3 2008, 10:59 AM\']
They had better do it...

I found out from your friends at GSNN that Cheryl Jackson, when she played her game, had a specific goal to donate 100K to an Oprah-sponsored foundation, or something of the type...

and she refused the 172K because after taxes, it wasn't enough.

And then, kaboom.

Do you now see what taxes do to this show? They'd better remove them...stat.

Like it's going to save it...it looks like it's off the schedule for good unless they decide to bring it back.
[/quote]

If the show going on hiatus will do ANYTHING to get rid of an airheaded reason for you to tell Barack Obama what to do, then I say let it go off the air for good.

Thunder · « **Reply #32 on:** December 04, 2008, 02:44:18 AM »

[quote name=\'Jimmy Owen\' post=\'202791\' date=\'Dec 3 2008, 02:39 PM\']
The solution is to get more game shows on the air, and thus increase the tax revenue potential. Maybe have a game show called "Bailout" where various corporate heads compete to get loans, etc.
[/quote]

C-SPAN had the first episode of this a few weeks ago.

Three CEO's each won hybrid cars to come back to the studio for Round 2 this week.

tvrandywest · « **Reply #33 on:** December 04, 2008, 03:49:15 AM »

[quote name=\'Fedya\' post=\'202818\' date=\'Dec 3 2008, 04:56 PM\']
(At least it would get Randy another announcing gig.)
[/quote]
You rang??! ;-)

Back in "the day" I was able to use the now defunct IRS Schedule G which allowed for "income averaging". It eliminated the big tax bite from an unusually good year.

Randy
tvrandywest.com

Jumpondees · « **Reply #34 on:** December 06, 2008, 01:25:25 AM »

[quote name=\'PYLdude\' post=\'202732\' date=\'Dec 2 2008, 10:58 PM\']
Why does this keep coming up?
[/quote]

Why does "WHAT" keep coming up? This topic? Or the fact that someone still thinks "The Perf" is still relavant?

Yeah, I know. I'm a day late and a dollar short on this sarcastic response, but better late than never.

PYLdude · « **Reply #35 on:** December 06, 2008, 01:29:16 AM »

[quote name=\'Jumpondees\' post=\'203023\' date=\'Dec 6 2008, 01:25 AM\']
[quote name=\'PYLdude\' post=\'202732\' date=\'Dec 2 2008, 10:58 PM\']
Why does this keep coming up?
[/quote]

Why does "WHAT" keep coming up? This topic? Or the fact that someone still thinks "The Perf" is still relavant?

Yeah, I know. I'm a day late and a dollar short on this sarcastic response, but better late than never.
[/quote]

Better never than misplaced.

TroubadourNando · « **Reply #36 on:** December 07, 2008, 11:20:47 PM »

This is a totally random tangent, but I always did have a soft spot for that question to cover your credit card debt that It's Your Chance of a Lifetime had used. I wonder if a similar gimmick for taxes would be possible to develop (or legal)

Kevin Prather · « **Reply #37 on:** December 07, 2008, 11:33:48 PM »

[quote name=\'TroubadourNando\' post=\'203125\' date=\'Dec 7 2008, 08:20 PM\']
This is a totally random tangent, but I always did have a soft spot for that question to cover your credit card debt that It's Your Chance of a Lifetime had used. I wonder if a similar gimmick for taxes would be possible to develop (or legal)
[/quote]
Millionaire did it for a week or so. They figured out any tax percentage you would owe, and paid you enough so that after taxes, you were left with your announced prize.

tpirfan28 · « **Reply #38 on:** December 08, 2008, 08:30:03 AM »

[quote name=\'Kevin Prather\' post=\'203130\' date=\'Dec 7 2008, 11:33 PM\']
Millionaire did it for a week or so. They figured out any tax percentage you would owe, and paid you enough so that after taxes, you were left with your announced prize.
[/quote]
I do remember that....H&R Block sponsored it, and I think it was during the week that taxes were due in 2001 (for some reason I remember them paring that promotion with their "Million-Dollar Mission").