Taxes from home renovation shows

[Fezmid]

Leave it to Fox to screw it up:

 

http://money.cnn.com/2005/04/15/news/newsm...taxes/index.htm

 

Interesting to note that Extreme Home Makeover apparantly found a tax loophole where they lease the property during the show so the owner doesn't have to pay extra taxes. Not sure how that works... Also interesting is that the article says they have two weeks to do the renovation, although the show itself touts it as one week...

CW

[Arkady Renko]

Yeah I had heard about this. No good deed goes unpunished I suppose.

 

The Oprah Winfrey complaints are stupid. If they do not want to pay the tax bill, sell the car and keep the extra money left over.

[Dan Gross]

From reading the article, the "two weeks" for ABC's Extreme Makeover is for the "renovation and filming." That probably includes "after" time as well. Also, IIRC, the tax loophole allows for the house to be leased for "up to two weeks," which means they likely lease the house for two weeks, even if they complete the renovations in one....

[udonkey]

Seems to me that they might start the lease before the renovations actually begin - a lot of the time they bring in pre-constructed houses (parts) as well as already have blueprints and other plans worked up.

 

Somehow, I doubt that they manage to get all the "prep" work done in 1-2 days.

[Corp000085]

I love all the interesting things that they do on EMHE along with the personal stories, but i really can't stand that metro ty. That SNL spoof from a couple weeks ago was funny though.