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So a Price Is Right model accidentally gave away a car
Posted on 4/2/15 at 9:35 pm
Posted on 4/2/15 at 9:35 pm
5
Posted on 4/2/15 at 9:37 pm to hawgfaninc
Drew Carey is laughing, but in his head he's thinking "oh you are so fricked"
Posted on 4/2/15 at 9:41 pm to hawgfaninc
Poor girl 
Posted on 4/2/15 at 9:42 pm to HailToTheChiz
I would be shocked if they fired her. The publicity it's getting is easily worth the $18k.
Posted on 4/2/15 at 9:56 pm to hawgfaninc
Thank God she was too hot to be an air traffic controller.
Posted on 4/2/15 at 10:04 pm to THRILLHO
quote:
I would be shocked if they fired her. The publicity it's getting is easily worth the $18k.
All that shite is donated. PiR doesnt pay for any of it.
Posted on 4/2/15 at 10:09 pm to Breesus
quote:
All that shite is donated. PiR doesnt pay for any of it.
And about 80-85 percent of contestants than win big prizes don't accept them anyway.
Posted on 4/2/15 at 10:11 pm to Tactical1
quote:
And about 80-85 percent of contestants than win big prizes don't accept them anyway.
Srs? Tax issues?
I assume winning the showcase and a car on the same day doubles some contestants yearly income.
Posted on 4/2/15 at 10:13 pm to Breesus
quote:
Tax issues?
This is the one I had seen on some special about secrets of game shows.
Posted on 4/2/15 at 10:22 pm to Tactical1
quote:
This is the one I had seen on some special about secrets of game shows.
I want watch. How watch dat?
This post was edited on 4/2/15 at 10:23 pm
Posted on 4/2/15 at 10:28 pm to Breesus
quote:
I want watch. How watch dat?
I think it was some special on VH1 or E years ago.
Something titled like 20 (or 30) secrets about TV game shows. It was on cable television, I do remember that.
Posted on 4/2/15 at 10:29 pm to Tactical1
quote:
Something titled like 20 (or 30) secrets about TV game shows. It was on cable television, I do remember that.
Must find. You look. Post link.
Posted on 4/2/15 at 10:54 pm to Breesus
quote:
Srs? Tax issues?
Why would tax issues prevent you from accepting prizes?
At the very worst case scenario, you could sell your prizes for cash, and just hold the cash and await the gains tax. With a $0 basis, you'll be taxed a lot but still have money left over after paying the taxes. And that's worst case scenario. Just seems that's better than not accepting anything
Posted on 4/2/15 at 11:03 pm to Tigerfan56
quote:
you could sell your prizes for cash
Problem is, you can't exactly sell it until you take ownership of it. To do that, you have to pay taxes for your winnings first, THEN try to sell it to make a profit.
“She just won a $157,000 car,” said host Drew Carey. The car, an impressive Audi R8 Spyder Quattro convertible.
But wait…
What about those pesky taxes? Previous winners have reported that, regardless of where you live, you cannot leave the studio with your prizes until California’s onerous taxes are paid. No driving away in your “free” car until you’ve settled with the Golden State’s taxman, (and more, much more will be due later. Those previous winners say sometimes TPIR winners walk away leaving their prizes unclaimed, because of the taxes. In Heil’s case, the car was on order, not ready to drive home so she did not have to fork over the taxes on it, yet. “I just got a letter from CBS today telling me the California taxes alone are nearly $12,000,” she said.
Heil is a nurse who lives in Tacoma, Washington, where there is no state income tax. But she’ll still owe sales tax to Washington state, which according to one source looks to be about $14,915.
Then there is the federal tax bite of around $34,445. Added together the free car could require her to pay more than $61,000.
Posted on 4/2/15 at 11:12 pm to The Quiet One
damn
Posted on 4/3/15 at 12:12 am to Tactical1
I would think that if you can't pay the taxes on a prize then you could sell it, and then pay taxes from the proceeds. Or can it not work like that?
ETA: I see this has already been covered. That shite's ridiculous.
ETA: I see this has already been covered. That shite's ridiculous.
This post was edited on 4/3/15 at 12:15 am
Posted on 4/3/15 at 12:51 am to Peazey
quote:
would think that if you can't pay the taxes on a prize then you could sell it, and then pay taxes from the proceeds. Or can it not work like that?
You also have to realize that government assistance can be based on your tax bracket, assets, and yearly income.
If your claiming to the government 20-25K household income and you win 30 grand on the price is right that's gonna frick you up.
Posted on 4/3/15 at 4:55 am to Tactical1
quote:so they get nothing?
And about 80-85 percent of contestants than win big prizes don't accept them anyway
Posted on 4/3/15 at 5:24 am to The Quiet One
Got to love the government taking the fun out of everything.
I was thinking about the logistical nightmare too. Go on a game show on your 5 day vacation. Win shite and now you got 12 hours to figure out how to get it back to Delaware.
Posted on 4/3/15 at 6:49 am to Bama and Beer
quote:
so they get nothing?
LINK
quote:
Last year, Schwartz was thrilled to win $33,000 in prizes on TPIR. The list of goodies included a pool table, a shuffleboard table, and a red Mazda2. After the show, she was whisked backstage for a dose of reality – the tax issues.
TPIR is filmed in California. Schwartz found out the hard way that when you win prizes in the Golden State, you don't get to wait until you file your tax return to pay the taxes. If you want the prize, you pay right then and there, said Schwartz.
In an interview with Yahoo! Shine, she told reporters, "Yeah, you don't just drive off the back lot with the car. After the show, you fill out some paperwork and basically sign your life away. You say that you're going to pay the taxes on it. If you win in California, you have to actually pay the California state income tax ahead of time."
When it does come time to file your tax return for the year, there will be additional forms to fill out, and the value of the prizes will be added to your income. And that could push you into a higher marginal tax bracket for part of those winnings.
For Schwartz, before leaving TPIR, getting her prizes released to her meant she had to pay $2,500 in taxes. Fortunately, she had also won cash of $1,200 playing TPIR's Plinko game and was able to use that money to pay the taxes. That's not exactly how she envisioned spending her winnings, but it did help.
quote:
On TPIR (and possibly other shows that give away merchandise), the value of the merchandise you pay tax on – for example, on the Mazda2 won by Schwartz – isn't the same as what it might be at a car dealership, especially after negotiating. TPIR winners pay tax on the manufacturer's suggested retail price (MSRP), which is generally a great deal higher than one would pay on the free market.
TPIR will only ship your prizes to your home. If you want to have an item shipped to an alternate address, you must pay that cost. Schwartz won a pool table, but she lives in an apartment where there wasn't room for such a large prize. Eventually, to pay the taxes on her winnings, she sold the pool table and the shuffleboard table. Their combined value was listed as $14,000. That's the amount she paid tax on. But she was only able to sell the items on Craigslist for $4,500. What the heck – at least it paid the bill!
Another TPIR winner told Consumerist, "I won $57,069 worth of items. I had to pay around $17,000 or $20,000 in taxes, but I'm not 100 percent on that, I tried not to pay attention."
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