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[wtf40k]

$40,000 in taxes?

[guest007]

Easy there.... I'm just stating the facts. Several people posted that they entered at about 1:20 and still made the finals. I actually finished the last puzzle several minutes before I was able to register, due to the servers not handling the load. I'm just letting you know that there was definitely a problem, and some people still didn't make the last phase even though they were done by 1:02. If you were one of those unlucky ones, you would be singing a different tune.

There are threads all over the place about the contestants that didn't get into the finals even though they submitted the completion form many minutes before those that did get in. I could really care less, because I'm not interested in the prizes they're offering, nor do I think I would have a good shot at winning, I'm just putting the information out there for those confused about why their time of 2 or 3 minutes wasn't good enough.

[guest007]

Re: $40,000 in taxes?

[Joe]

what really bothers me about the whole thing are the people that have two and three cryptexs up on ebay, that they created multiple accounts specifically to abuse the contest.. people like that should be shot.. I applaud google for not limiting one per household (the rules state one per person) as I've said before my sister entered as well and we would have had huge issues if she wasn't able to.. (not that she won.. now I'm one of the lunatics bidding on ebay because she wants a cryptex..)

one person doing the final puzzles three times in a row is a huge advantage over the rest of us..

my total favourite is the guy selling his google id on ebay..
(*cough*illegal*cough*)

sorry, I just needed to vent.. I really enjoyed the contest though, and I hope they do it again.

[Rogi Ocnorb]

I've heard that as it is a "Skills-based contest", the winner can tack on a 15% self employment tax and it goes even higher.

[stonefry]

I said you had sour grapes before, but you really didn't say anything that would suggest as much. I was kind of exaggerating. And then you go and say this.

[uprightcitizen2]

[Ashin]

Feel free to smack me over this, cause I would want to if I were on your end, BUT:

It's not about the destination, it's about the journey.

[wtf40k]

Re: $40,000 in taxes?

[stonefry]

You can forfeit the trips.

And I would be pissed if I didn't make the final when people who took longer made it, but I wouldn't say that the prizes are crappy just because I was no longer eligible to win them.

[aliendial]

The "higher tax rate" is because the prize value, added to your other income, drives you into a higher tax bracket for the year. For most, an income boost like these prizes will change your tax bracket. I wonder if you can turn down some parts of the prize or take the cash value of some parts to help with the liability. OR, worst case, sell some of the hardware to get money for taxes if you really need it. Personally, I'd borrow money to cover the liability for a fab prize package like this. Maybe sell some of the hardware... And what about those freeloading friends who want to take the trip with you? Make them pay the tax liability on their bits...this could work out. If you win, get some tax advice as you may gain estimated tax payment obligations in September and January.

[uprightcitizen2]

yeah

[aliendial]

Note the quest box on the google/ig home page has changed to this:

[notsilas]

Dangit, I just removed mine, and now the page has been replaced. Can someone post the URL to the feed?

[stonefry]