Transcript 11/11/08 - Brianne Sherman (Carryover-MmeMeisha)

[secondchance]

Oh Brianne! Finally just got to see your incredible show. Even though I knew almost word for word what was to transpire, it was still an edge of the seat, spine-tingling wower! So proud of you, girl.

[thguy65]

Way to show 'em how to play the new rules!
Enjoy the dough, but beyond that you'll have great memories to carry with you the rest of your life and a legion of Bored Buddies you can always count on at this virtual home.

[minimetoo26]

This is beyond cool! I wish I had seen it!

[RJS]

I finally got to see this show (after the LA delay), and it pulled me out of the woodwork to make my first post in forever. I was thrilled to see someone with a great last name do so well, and I was doubly thrilled to see Bob come through as her PAF. And, ironically enough, Bob had to deal with a "NOT" question, just like I did in May 2001 for my son, when it was the very same Bob who told me about the Advanced Search Google feature that enabled me to be clueless on the Q yet Google my way to 32K for my son. With Bob being able to rule out two answers (and I don't know how Meredith got his comments backward), the Double Dip proved way more valuable than a 50-50 would have. WTG Brianne!

[MarleysGh0st]

I finally got to see this show (after the LA delay), and it pulled me out of the woodwork to make my first post in forever.

Wow, RJS! It has been a long time!

Good to see you here again!

[Bob78164]

California can tax J! winnings only if the contestant lives in California.

That's simply incorrect. California can and does tax Jeopardy! winnings because they are won in California. --Bob

There seems to be some disagreement on that. I'm backing off my position to, "I don't know," now but you were taxed because you live in California.

I guess to tax non-residents California would have to consider your winnings as earned income, not unearned.

Has any nonresident had to pay New York taxes on WWTBAM winnings?

Again incorrect. All that is necessary is a California nexus. Winning the money in the state easily qualifies.

One of the lesser-known disadvantages to investing in many real estate partnerships (REITs) is that they are taxed in each of the states where they own property. Because they are pass-through entities, owners must deal with state income taxes in each of those states as well. Some states simplify the process by using a minimum-income floor, beneath which taxpayers need not file, but plenty of states do not. The point is that this income is taxable by these states even though it is investment income, not earned income. --Bob

[Bob78164]

So really, all I can say is wow. Thank you Bob, for practicing with me and narrowing down those two choices. Thanks everyone else for watching and being so supportive! NO thanks to the people who keep commenting on the dimples. They're all I've heard about for two days. I never realized they are so big! Embarrassing.

I love you guys. I can't help but feel gushy right now. Seriously. This board helped me out so much, from studying to keeping sane. Gah, and now I'm going to cry again.

Normally, I don't ask for anything in return for my help. In your case, I'm gonna make an exception. You can thank me best by STICKING AROUND. In addition to being a terrific game player, I think you're one hell of an addition to our community. So I hope you make the time to stay with us for many years to come.

Besides, I'm gonna keep auditioning until they render me ineligible. And when that day comes, I may be looking to you for some PAF assistance. --Bob

[littlebeast13]

So really, all I can say is wow. Thank you Bob, for practicing with me and narrowing down those two choices. Thanks everyone else for watching and being so supportive! NO thanks to the people who keep commenting on the dimples. They're all I've heard about for two days. I never realized they are so big! Embarrassing.

I love you guys. I can't help but feel gushy right now. Seriously. This board helped me out so much, from studying to keeping sane. Gah, and now I'm going to cry again.

Normally, I don't ask for anything in return for my help. In your case, I'm gonna make an exception. You can thank me best by STICKING AROUND. In addition to being a terrific game player, I think you're one hell of an addition to our community. So I hope you make the time to stay with us for many years to come.

Besides, I'm gonna keep auditioning until they render me ineligible. And when that day comes, I may be looking to you for some PAF assistance. --Bob

I'm just curious Bob is you happen to remember which day ES was kind enough to gift you with your toast & PAF waiting avatar. It was the first thing I thought of when I realized Meisha's tape date was the same day I left for Kansas City, and a hell of a coincidence......

lb13

[mrkelley23]

To add my 2 cents:

My memory is completely contradictory of gsabc's, unfortunately. I won on WoF in 1994. The total in cash and prizes came to something around $62000. They withheld for federal taxes at the highest marginal rate(32 or 33% at the time, I think), assuming that I would qualify, which, being a non-tenured teacher, I naturally didn't. They also withheld 7.5% in CA state income taxes, and explained that IF my state had a reciprocity agreement with CA (and they do) that I would get back the difference between that number and my state's tax rate (3.2% at the time) as a refund. So my initial check from WoF was for around $38000. But my tax refund check that next year was huge, as I recall.

I also would not agree with Bob#s about getting professional help. His mind works for finances,and mine doesn't. It doesn't matter how much I try to educate myself, and I have. So when I had this complicated tax situation, as a relatively young person with no tax experience (I had never even itemized before!) I hired a tax professional, nothing fancy, and they explained the wonders of capital gains and other tax advantages which I had never heard of before. I wound up saving much more than the amount I paid them, and I am eternally grateful for the job they did. And I've never had to hire them again, more 's the pity.

[TheConfessor]

I also would not agree with Bob#s about getting professional help. His mind works for finances,and mine doesn't. It doesn't matter how much I try to educate myself, and I have. So when I had this complicated tax situation, as a relatively young person with no tax experience (I had never even itemized before!) I hired a tax professional, nothing fancy, and they explained the wonders of capital gains and other tax advantages which I had never heard of before. I wound up saving much more than the amount I paid them, and I am eternally grateful for the job they did. And I've never had to hire them again, more 's the pity.

Game show winnings have nothing to do with capital gains. And it's odd that WOF would withhold federal taxes when Jeopardy does not. I assume the same accountants work for both shows.

[Bob78164]

To add my 2 cents:

My memory is completely contradictory of gsabc's, unfortunately. I won on WoF in 1994. The total in cash and prizes came to something around $62000. They withheld for federal taxes at the highest marginal rate(32 or 33% at the time, I think), assuming that I would qualify, which, being a non-tenured teacher, I naturally didn't. They also withheld 7.5% in CA state income taxes, and explained that IF my state had a reciprocity agreement with CA (and they do) that I would get back the difference between that number and my state's tax rate (3.2% at the time) as a refund. So my initial check from WoF was for around $38000. But my tax refund check that next year was huge, as I recall.

I also would not agree with Bob#s about getting professional help. His mind works for finances,and mine doesn't. It doesn't matter how much I try to educate myself, and I have. So when I had this complicated tax situation, as a relatively young person with no tax experience (I had never even itemized before!) I hired a tax professional, nothing fancy, and they explained the wonders of capital gains and other tax advantages which I had never heard of before. I wound up saving much more than the amount I paid them, and I am eternally grateful for the job they did. And I've never had to hire them again, more 's the pity.

It's worth at least attempting to educate oneself on the issues, even if one ends up hiring a professional. After all, ultimately, the taxpayer needs to sign the return, and is responsible for what's on it. I do agree that if, after attempting the education process, one still feels at sea, then it's worth hiring a professional. (Although I understand that there are some awfully good and relatively inexpensive programs out there.) But it's doubtful that madamemeisha's return will in fact be complex. She will have to file a Form 1040, but most of the lines will be 0.

There is one caveat, though. She should determine whether it makes sense to pay her state income taxes this calendar year or next year. They are an itemized deduction, and ordinarily a sizeable one. However, unless I miss my guess, madamemeisha will end up paying AMT for 2008, and for purposes of AMT, state taxes are not deductible. (For most people in the AMT situation, the form isn't hard to do. I've got a kid and a mortgage and I pay AMT, and once all the material I needed was collected, I completed the forms (state and federal) in six hours. With a program, I'd probably have been done in one hour.)

It's probably worth figuring this out more or less now because if it does make sense to prepay the state taxes by a few months, there won't be much time between receipt of the check and the end of the calendar year (which is the deadline for this sort of thing). --Bob

[Bob78164]

So really, all I can say is wow. Thank you Bob, for practicing with me and narrowing down those two choices. Thanks everyone else for watching and being so supportive! NO thanks to the people who keep commenting on the dimples. They're all I've heard about for two days. I never realized they are so big! Embarrassing.

I love you guys. I can't help but feel gushy right now. Seriously. This board helped me out so much, from studying to keeping sane. Gah, and now I'm going to cry again.

Normally, I don't ask for anything in return for my help. In your case, I'm gonna make an exception. You can thank me best by STICKING AROUND. In addition to being a terrific game player, I think you're one hell of an addition to our community. So I hope you make the time to stay with us for many years to come.

Besides, I'm gonna keep auditioning until they render me ineligible. And when that day comes, I may be looking to you for some PAF assistance. --Bob

I'm just curious Bob is you happen to remember which day ES was kind enough to gift you with your toast & PAF waiting avatar. It was the first thing I thought of when I realized Meisha's tape date was the same day I left for Kansas City, and a hell of a coincidence......

lb13

I don't remember the day, but I do recall it was in the "toastification" thread. I think it was the end of the first page, which would have made it relatively early in September. --Bob

[littlebeast13]

Normally, I don't ask for anything in return for my help. In your case, I'm gonna make an exception. You can thank me best by STICKING AROUND. In addition to being a terrific game player, I think you're one hell of an addition to our community. So I hope you make the time to stay with us for many years to come.

Besides, I'm gonna keep auditioning until they render me ineligible. And when that day comes, I may be looking to you for some PAF assistance. --Bob

I'm just curious Bob is you happen to remember which day ES was kind enough to gift you with your toast & PAF waiting avatar. It was the first thing I thought of when I realized Meisha's tape date was the same day I left for Kansas City, and a hell of a coincidence......

lb13

I don't remember the day, but I do recall it was in the "toastification" thread. I think it was the end of the first page, which would have made it relatively early in September. --Bob

It was one of the few things I posted before I left that morning.... September 16th....

If you had announced you were OTC that day for her, I don't remember seeing it. But all I can say is Meisha isn't the only one with psychic powers....

lb13

[Bob78164]

I'm just curious Bob is you happen to remember which day ES was kind enough to gift you with your toast & PAF waiting avatar. It was the first thing I thought of when I realized Meisha's tape date was the same day I left for Kansas City, and a hell of a coincidence......

lb13

I don't remember the day, but I do recall it was in the "toastification" thread. I think it was the end of the first page, which would have made it relatively early in September. --Bob

It was one of the few things I posted before I left that morning.... September 16th....

If you had announced you were OTC that day for her, I don't remember seeing it. But all I can say is Meisha isn't the only one with psychic powers....

lb13

I had posted a "Timing Reminder" request a few hours before ES posted my gift. I haven't checked but I'm fairly sure I'd mentioned on the Bored earlier that I would be serving as one of her PAFs. --Bob