2/2 Kevin Bacon on celebrity millionaire

Kevin Bacon on celebrity millionaire

Category:

People & Blogs

Tags:

• millionaire
• Kevin
• Bacon
• who
• wants
• to
• be
• celeb
• winner

[mobspeak]

funny if you think of it.. this looks like they are playing for their favorite charities .. well did you know that if you give money to charity it is tax deductible? they give that money to charity and then get it all back ..

[Sashinator0]

@mobspeak I'm pretty sure they aren't giving this money to charity themselves, at least the fake prop check is written directly from ABC to the charity.

[ellyodd]

hey don't you have a part three? it ends in the middle of everything

[Sashinator0]

don't know what you mean. It ends when he leaves the hotseat. David Alan Grier would be the next person in.

[NKoara]

Jesus holy Christ it goes fast!! Here in Denmark we have this abnoxious host who asks "Are you sure?" like a thousand times before giving the correct answer!

[missismercury]

he looks so hot here

[girlygirlyblonde]

IS KEVIN BACON REALLY CLEVER OR R THE QUESTIONS AS EASY AS HELL?

[Negerzulu]

omg die kevin bacon actually believe Teheran is at the border between europe and asia;-D? so poor geographic knowledge, pretty embarrassing in the end...

[MyClip456]

ohhhh we have that are you sure thing too in every tv game it is sooo annoying :S

[ThePaulWog]

@mobspeak If the money goes to them and then they give it to charity, then the money is taxed first. Then they give it to the charity, and they get their tax deductibles. Which is very minor to be honest (it will be a lot, but still minor compared to the amount donated).

If the money goes straight to the charity from Who Wants To Be A Millionaire, then it is not taxed at all (it's the full amount won), and there is no tax return for the celebrity. The Millionaire show likely can deduct it tho.

[Josannie44]

bet he makes more then 125,000 a year

[devolutionone]

I love Kevin !

[rickrbo]

@NKoara So as here in Brazil!

[dgdfhfghgfhgfgffjhj]

@dgdfhfghgfhgfgffjhj

And 3 (if it was not clear that I was assuming otherwise).

It is very unlikely that the money is paid first to the celebrity and then they have to pay it to the charity. Donations by a second party in the name of a third party, with no tax involvement of the named party or two-stage financing, are quite common. There is no reason to do such a complex thing when a direct and legal method is already available and commonly used.

[dgdfhfghgfhgfgffjhj]

@mobspeak

1. "Tax deductions" are amounts you don't pay taxes on, NOT amounts that subtract entirely from your tax liability. You don't "get it all back", you simply don't pay taxes on that amount.

2. Anything that is an expense, rather than a profit, is usually tax-deductible as a cost of getting the money to begin with (eg, employee salaries and inventory). All prize money likely ends up subtracted from profit, thereby reducing taxes.

[DuchonMandik]

Anyone ever watch this show and get like every question right and think. Damn, that should be my money?