New Howie Mandel game show miniseries -- Yankee Swap + Prisoner's Dilemma
December 9th, 2012 at 6:51:27 PM
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Last edited by: sodawater on Oct 1, 2018
December 10th, 2012 at 10:10:06 AM
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I'm always a little leery of the contestants on these "new" game shows. I suspect they are shills, hired to play the game in a way that heightens the drama.
I do appreciate that this show plans to give away, "life changing" prizes. How do I sign up?
I do appreciate that this show plans to give away, "life changing" prizes. How do I sign up?
Simplicity is the ultimate sophistication - Leonardo da Vinci
December 11th, 2012 at 11:56:25 AM
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Did anyone watch this besides me? Some of the prizes were interesting to say the least.
A walk in beer cooler and that bucking bronco thingy would have made a great combo
“Man Babes” #AxelFabulous
December 12th, 2012 at 8:44:22 AM
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I watched the first episode and won't be watching any more. These slow, draw-out-the-suspense game shows just don't work for me, you could easily do the show in half an hour.
I will say though that I probably would have been eliminated early as I was doing a poor job at pricing the prizes. I think that is why they have oddball stuff.
I'm not sure what the point is of not telling the contestants what amount of money they have at the very end.
I will say though that I probably would have been eliminated early as I was doing a poor job at pricing the prizes. I think that is why they have oddball stuff.
I'm not sure what the point is of not telling the contestants what amount of money they have at the very end.
December 12th, 2012 at 8:57:28 AM
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I watched for the first time last night.....don't think this show will last. Golden Balls is much better as there is 4 way interaction/lying/posturing by all contestants in the game during each round. And you win $$$ (Hey Howie, stick to Deal or No Deal where you give away $$$!)
Getting prizes as opposed to $$ is a huge bummer. The show will 1099 you for the full retail value of the prize. They better keep giving those contestants some big $$ as the final addition to their package, cause their gonna need it to pay the tax on the inflated retail value of prizes that they have to claim as income on their tax returns!
Imagine this: You win $100,000 worth of floating BBQ Boats, Omaha Steaks & a handglider with lessons. They give you $50,000 in cash as well and you somehow manage to keep your own prize package. You earn the money in CA or NY, cause that is where the show if filmed. You owe federal taxes of at least 25% and state taxes likely add another 10% in either of those two states.
Total Prize Income: $150,000
Tax Bill @ 35% combined: $52,500
Net Result: You have to cough up all your prize cash plus an additional $2,500 out of your own pocket for a floating BBQ Boat, Handglider & steaks for five years. How big a winner do you really feel like at this point?
Getting prizes as opposed to $$ is a huge bummer. The show will 1099 you for the full retail value of the prize. They better keep giving those contestants some big $$ as the final addition to their package, cause their gonna need it to pay the tax on the inflated retail value of prizes that they have to claim as income on their tax returns!
Imagine this: You win $100,000 worth of floating BBQ Boats, Omaha Steaks & a handglider with lessons. They give you $50,000 in cash as well and you somehow manage to keep your own prize package. You earn the money in CA or NY, cause that is where the show if filmed. You owe federal taxes of at least 25% and state taxes likely add another 10% in either of those two states.
Total Prize Income: $150,000
Tax Bill @ 35% combined: $52,500
Net Result: You have to cough up all your prize cash plus an additional $2,500 out of your own pocket for a floating BBQ Boat, Handglider & steaks for five years. How big a winner do you really feel like at this point?
December 12th, 2012 at 11:39:56 AM
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Last edited by: sodawater on Oct 1, 2018
December 12th, 2012 at 3:40:33 PM
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Quote: slytherI watched the first episode and won't be watching any more. These slow, draw-out-the-suspense game shows just don't work for me, you could easily do the show in half an hour.
DVR + fast forward?
I haven't seen the show yet....
December 12th, 2012 at 3:49:59 PM
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Options:
1. Turn down the prizes (but take the cash)
2. Take the prizes and sell them. Write off the difference (1099 value - sale price) as a capital loss.
If you are REALLY bold:
3. Sell them immediately and claim that the amount that you got for them was their true value, rather than the amount on the 1099. Even if the IRS disagrees, you may prevail in court (rare, but it does happen. The lady who won the case about being able to write off tuition comes to mind) I have no idea if anyone has ever tried this, if it worked, if there is any established court precedent, etc, etc. Try at your own risk. Probably not worth it unless the prize has a high sale value (for a small amount, I'd just turn it down rather than fight with the IRS)
1. Turn down the prizes (but take the cash)
2. Take the prizes and sell them. Write off the difference (1099 value - sale price) as a capital loss.
If you are REALLY bold:
3. Sell them immediately and claim that the amount that you got for them was their true value, rather than the amount on the 1099. Even if the IRS disagrees, you may prevail in court (rare, but it does happen. The lady who won the case about being able to write off tuition comes to mind) I have no idea if anyone has ever tried this, if it worked, if there is any established court precedent, etc, etc. Try at your own risk. Probably not worth it unless the prize has a high sale value (for a small amount, I'd just turn it down rather than fight with the IRS)
