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April 18, 2005
Reality Bites
While I loathe most 'reality' shows that are on the market these days and miss many good TV shows cancelled for being 'too expensive per episode' compared to finding 15 idiots to duke it out for cash prizes with little/no writing required I find it interesting that some of reality shows 'winners' are really 'losers' when it comes to Uncle Sam and the Tax Man.
CNN has an article that talks about the consequences of some of the contestants on the show and what has happened afterwords. Like the (in)famous Oprah Pontiac G6 giveaway tax burden or that moron from survivor who 'forgot' to report his $1.0M income.
I've often said while watching my one reality show, Extreme Makeover: Home Edition, that I wondered how these often in dire straights individuals could afford the mortgage/tax burden afterwards because the work done these days on the show are probably hundreds of thousands, if not multi-million, or the home at the end of it is worth that.
It appears, according to the original article, that Extreme Makeover: Home Edition leases the home from the individual/family for the two weeks they do all the work, and that all improvements done aren't subject to gift/income taxes!
Now they still have a property tax burden but still, that's pretty freaking cool that they do have a way to avoid that and still help out a family in need like they do.
Posted by trekkie at April 18, 2005 8:12 PM
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