envirojeff Posted February 21, 2005 Share Posted February 21, 2005 How the hell is that family going to afford the taxes on that fort? I know that they got $100,000.00, but ...no way. Three years max! Jeff Link to comment Share on other sites More sharing options...
stevestojan Posted February 21, 2005 Share Posted February 21, 2005 How the hell is that family going to afford the taxes on that fort? I know that they got $100,000.00, but ...no way. Three years max! Jeff 247646[/snapback] When you don't have a mortage payment, you're property tax no longer seems like an issue. There's no way the house before that was worth $100,000. So, they take that check and pay off thier mortage (if ABC didn't already). Then, with no mortage payement, the tax probably seems like no problem. Link to comment Share on other sites More sharing options...
envirojeff Posted February 21, 2005 Author Share Posted February 21, 2005 Don't get me wrong, I hope that they make out great and enjoy the gift that was given. I just have a bad feeling about this one??? Jeff Link to comment Share on other sites More sharing options...
SouthernMan Posted February 21, 2005 Share Posted February 21, 2005 Taxes are pretty reasonable in the metro Atlanta area, and even for a house of that size (about 5,300 SF), I doubt the yearly tax bill would exceed $5,000 in that area. If they budget the $100,000 wisely, and get a little interest off of it, they shouldn't have too much trouble making it last. Link to comment Share on other sites More sharing options...
KRT88 Posted February 22, 2005 Share Posted February 22, 2005 My sisters a CPA and she told me whenever you receive a gift like that (win a car, house paid off, etc) you get slammed with a massive tax bill. Wonder how that works. Link to comment Share on other sites More sharing options...
stevestojan Posted February 22, 2005 Share Posted February 22, 2005 My sisters a CPA and she told me whenever you receive a gift like that (win a car, house paid off, etc) you get slammed with a massive tax bill. Wonder how that works. 247827[/snapback] I'm guessing (just guessing) that they put the house in the name of ABC. They probably then sell the house for $1.00 to the family.. .something along those lines. Link to comment Share on other sites More sharing options...
Greybeard Posted February 22, 2005 Share Posted February 22, 2005 My sisters a CPA and she told me whenever you receive a gift like that (win a car, house paid off, etc) you get slammed with a massive tax bill. Wonder how that works. 247827[/snapback] Since it is tax season, after you do your taxes, increase your income by $100,000. Then see what you would have to pay. That is how it works. And don't forget to ante up the state's share. Link to comment Share on other sites More sharing options...
sweet baboo Posted February 22, 2005 Share Posted February 22, 2005 you want to help a family fine...but do you have to load their houses with plasma tvs and make it look like some movie star's home? how's that helping someone get by? Link to comment Share on other sites More sharing options...
stevestojan Posted February 22, 2005 Share Posted February 22, 2005 you want to help a family fine...but do you have to load their houses with plasma tvs and make it look like some movie star's home?how's that helping someone get by? 247953[/snapback] Would people watch if they just built them a 3 bedroom raised ranch with 1.5 bathrooms and a 36" tube TV in the modest living room? I can't knock this show. They are helping people, and yes going over board, but so what? They ARE still making a TV show here. Gotta add a "wow" factor. Link to comment Share on other sites More sharing options...
sweet baboo Posted February 22, 2005 Share Posted February 22, 2005 Would people watch if they just built them a 3 bedroom raised ranch with 1.5 bathrooms and a 36" tube TV in the modest living room? I can't knock this show. They are helping people, and yes going over board, but so what? They ARE still making a TV show here. Gotta add a "wow" factor. 247972[/snapback] NBC: and why are people watching this? George: Because it's on tv NBC: not yet it isn't i have a problem with it...all you see on tv these days are the excesses of our greedy ass society (stupid ass get rich quick schemes in a bunch of reality shows)...i don't have a problem with people spending money lavishly and going over the top as long as they earned it themselves...too many people these days want something for nothing...you want to help someone, give them a nice sturdy house to live in...help put their kids through college...not throw in 3 jacuzzies, sound systems and plasma tvs into houses...if they want to help so much and have so much money to throw around, they can come to my house and just give me some new windows...that's all i ask so i can actually sleep in a house that's warmer than 62 degrees at night Link to comment Share on other sites More sharing options...
Dan Gross Posted February 22, 2005 Share Posted February 22, 2005 My sisters a CPA and she told me whenever you receive a gift like that (win a car, house paid off, etc) you get slammed with a massive tax bill. Wonder how that works. 247827[/snapback] If you're talking income tax, they use a tax loophole. My understanding of it is that you can lease your property for a short period (I believe it's a week) tax-free. There's no limitation on the $$ figure...They "lease" the property from the recipient for some ungodly sum ($250K, I think). Link to comment Share on other sites More sharing options...
Cynical Posted February 22, 2005 Share Posted February 22, 2005 Taxes are pretty reasonable in the metro Atlanta area, and even for a house of that size (about 5,300 SF), I doubt the yearly tax bill would exceed $5,000 in that area. If they budget the $100,000 wisely, and get a little interest off of it, they shouldn't have too much trouble making it last. 247791[/snapback] Local news clip said the county tax assessors were having a problem appraising it. Apparently they can't find some comparables. Go figure. Link to comment Share on other sites More sharing options...
KRT88 Posted February 22, 2005 Share Posted February 22, 2005 I'll call her and ask he what it is called, but it falls under a catagory where you have had an asset paid off by means you couldn't afford. I remember we discussed this on a visit and she provided an example. A person received a 100,000 house as a gift, they'd ownsomething like $26,000 in taxes. but I'll ask her about it. Link to comment Share on other sites More sharing options...
dib Posted February 22, 2005 Share Posted February 22, 2005 How the hell is that family going to afford the taxes on that fort? Also, inmany cases the original homes were a sh!tholes. Does ABC go back say in a year and see how the homes are being maintained? Link to comment Share on other sites More sharing options...
UConn James Posted February 22, 2005 Share Posted February 22, 2005 Last week when they were building for the "house-less" families, they were going off on so many tangents (like Ty doing the community center on top of everything else) it was like watching Oscar Schindler at the end of the movie taking off his ring and sobbing, How many more would this have saved? They want to do so much but there's no Ben Kingsley to say, You did enough. The show on Sunday did go overboard. 5,300sq. ft. for a four-person family? My brother is building one that's 1,800 and they don't even know what to do with the entire upstairs. Don't mean to pee in the Cheerios, but I'm sure they could have found another family in the same town and built them each a normal-sized home.... Link to comment Share on other sites More sharing options...
Pine Barrens Mafia Posted February 22, 2005 Share Posted February 22, 2005 Would people watch if they just built them a 3 bedroom raised ranch with 1.5 bathrooms and a 36" tube TV in the modest living room? I can't knock this show. They are helping people, and yes going over board, but so what? They ARE still making a TV show here. Gotta add a "wow" factor. 247972[/snapback] The show that pissed me off was the one with this idiot broad and her three daughters. This fool woman leaves a space heater on and it burns her house down. So how was her IDIOCY rewarded? Why, with a new 4,500 SF home, a bed and breakfast, a car and a boat. yeah, great TV. Maybe I should burn my apartment complex down. Link to comment Share on other sites More sharing options...
MichFan Posted February 22, 2005 Share Posted February 22, 2005 Would the detractors prefer ABC spend their money on something else? Cripes, the one reality show on TV where some good is being done instead of participants getting taken advantage of and people still find something to complain about. ABC gives the families a home maintenance service that covers everything in the house, and on the last show the family was given $100K to cover taxes. Don't you think any of the other issues mentioned are looked at prior to doing the show? I have yet to hear a single beneficiary from this show complain about anything. The way certain audience members and the media responded to the tax revelation from Oprah's car giveaway, if there was something there we certainly would have heard about it by now. Next thing you know people will be complaining about Make-A-Wish taking kids to Disney when all they really need is a trip to the local park. Link to comment Share on other sites More sharing options...
Pine Barrens Mafia Posted February 22, 2005 Share Posted February 22, 2005 Would the detractors prefer ABC spend their money on something else? Cripes, the one reality show on TV where some good is being done instead of participants getting taken advantage of and people still find something to complain about. ABC gives the families a home maintenance service that covers everything in the house, and on the last show the family was given $100K to cover taxes. Don't you think any of the other issues mentioned are looked at prior to doing the show? I have yet to hear a single beneficiary from this show complain about anything. The way certain audience members and the media responded to the tax revelation from Oprah's car giveaway, if there was something there we certainly would have heard about it by now. Next thing you know people will be complaining about Make-A-Wish taking kids to Disney when all they really need is a trip to the local park. 248123[/snapback] Read my post. They're rewarding people who a) don't do their due diligence or b) are complete idiots. Link to comment Share on other sites More sharing options...
Just Jack Posted February 22, 2005 Share Posted February 22, 2005 It's more that the fans of the show have questions about it, that haven't been answered. Like I want to know when they are showing up at 7am, why is everyone up and dressed? They must have some idea that something is supposed to happen that morning. Link to comment Share on other sites More sharing options...
aussiew Posted February 22, 2005 Share Posted February 22, 2005 I watch this show because I feel that spending advertising revenue on building new homes for people is far more positive than watching them eat disgusting animal body parts or $10,000 engagement rings and rose ceremonies. Link to comment Share on other sites More sharing options...
Recommended Posts