MovieChat Forums > Undercover Boss (2010) Discussion > X amount of $$$ for a home, they have to...

X amount of $$$ for a home, they have to use all that $$$ for the home?

posted 10 years ago by Divic204
2 replies | jump to latest

Catching up on the past few episodes and just watched the Forman Mills episode, where the one guy got $250,000 to go towards a house.

Now, I've always wondered when an employee gets that prize, can they let's say, just buy a $100,000 house and keep the rest of the money for bills/property taxes or any money they're given for a home it HAS to be used strictly for the home and you can't keep the remaining cash if they bought a cheaper house.

It'd be interesting to know.

**** JAY LENO....GO COCO!!!!!!!!!!

[–] hindsboro1 10 years ago

I wonder that works for taxes. If it's considered a win like a game show(price is right) you have to pay taxes on your winnings.

If it's considered a gift you still have to pay taxes over a certain amount.

[–] Arvin-G-Borkar 9 years ago

I doubt there is a fund for just the house, unless the CEO writes a contract up and demands the excess money be paid back if they choose NOT TO use it for its intended purpose. There is no way they can regulate that and it would be taxed as if it was money, obviously.

Better watch out, better start crying. Better hurry up, run and hide. Krampus is coming to town! >:)