Good Questions: Super Bowls, Game Shows, & Uncle Sam
MINNEAPOLIS (WCCO) -- Every Friday, Heather Brown offers a few short takes on some of our viewers Good Questions. This week, she's looking at game show winnings, Uncle Sam, and the Super Bowl.
Jeff From Hill City asked: "Has any NFL team ever played the Super Bowl on their home field?"
No, but two teams have come close. In 1980, the Los Angeles Rams played the Pittsburgh Steelers at the Rose Bowl in Pasadena. In 1985, the San Francisco 49ers played the Miami Dolphins at Stanford Stadium in Palo Alto. And, just because it hasn't happened yet doesn't mean it won't. 2018, anyone?
Marilyn from Stone Lake and Harry from Walker want to know: "Do people pay taxes on their gameshow winnings?"
"The euphoria of winning quickly turns into a wheel of misfortune," Brian Vnak, a C.P.A. with Wealth Enhancement Group, said.
Vnak said the average American will be pay between 15 to 25 percent on the federal level, but the winnings won't be subjected to Social Security or Medicare taxes. Winnings would also be subjected to state taxes in both the home state of the winner and the state where they won the prize. For example, a $34,587 Showcase Showdown on "The Price is Right" would be subject to around $12,000 in taxes.
But, the winner can use the taxes paid to the gameshow state to offset the taxes that would be paid to the home state. Where people generally run into problems, Vnak said, is if they win cars or boats and don't have the cash to pay the taxes.
Jacob from Minnetonka asks: "Who is Uncle Sam?"
Uncle Sam is linked to Samuel Wilson, a meatpacker from Troy, New York. He had a contract to supply meat to the Army during the War of 1812. He would stamp "U.S." on the side of his boxes and the soldiers (or the residents of Troy; it's not entirely clear) would refer to the food as Uncle Sam's.
