I’m pleased to announce that we’ve secured an additional $15k in prize money, which will go to boosting the prizes for the Hyper SF2 and Mario Kart DS tournaments.
I’d also like to take the opportunity to encourage you all to attend Evo West and East. Besides the tournaments it will be a fun weekend of gaming. We’re talking 16 BYOC stations here – bigger than any Evo BYOC ever.
If someone places 1st-8th and wins a cash prize, do we have to pay taxes off of them, especially if we’re a U.S. resident? I mean… I am assuming that seeing as it would perhaps be seen as a form of income that you may have to if you were a US resident, but for non-US residents I am unsure.
If you are getting a check instead of cash like previous tournies - of course you are going to have to pay taxes.
So if you are single and you don't have any tax deductions for the year then in California alone you will pay anywhere from 20-40 % of your prize money to the gov. This is of course based on which tax bracket you are going to get yourself in to when it's tax time.
My personal accountant does taxes all the time - I can ask her I guess.
If EVO is a legally registered business, yes, you must pay taxes.
If EVO is not a legally registered business, then it would just be viewed as a “gift” and then you wouldn’t have to pay taxes.
Of course, so far there have been no court rulings on non-for-profit fighting game events, and with all the sponsorship involved, it makes it even more difficult to figure any of this out. The best way to determine the answer would be to go to one of the winners of a PC gaming tournament and ask them.
However, when you really think about it…how many people are going to know/care about EVO? Unless there is massive press/media coverage this year, chances are extremely slim that anybody in the IRS is going to know you won a couple thousand bucks at EVO. They are going to go after peopel like Richard Hatch, who win MILLIONS and then don’t pay, rather than somebody who only won a couple thousand, and wasn’t sure if there was precedent to even pay taxes on it…
I would say don’t worry, even IF the IRS catches up with you, OH NOES you’d have to pay a thousand bucks or so. Big deal.
Worry more about your gameplay and less about taxes!
Youll get a BIG CHECK tho… one of those huge ones that you can hold up!! Nah large amounts of money like this are never handed on the spot. Even WCG has like a 4 month waiting period until you FINALLY see your money. Then you gotta kick like 30 percent to sponsers n shit. man PC gaming sucks. Im sure DSP will make sure everyone gets there money:lovin:
Just to follow this up–there IS a lot of legal mumbo jumbo this year, but we will be able to offer signed affadavits to the winners on the day they win. These function like a legally actionable IOU, as opposed to a “ummm… we’ll send you something someday…maybe…”
I’ve already arranged for the checks to go out very quickly after the finals, but the affadavits are solid proof that winners can take with them that day that the check really is on its way.
Rep on the line? Maybe if you enter a couple of majors a year. History is different then rep. Alpha3 nationals=2nd place. That’s one event but it’s history. A strong rep comes with consistency not one hit.
Who do you think you are? Justin “bustin’ on a muthafucka” Wong!?!
Top 5 in any of the last 5 years of finals might be a rep but…been too long CRACKA!!!
J/K I look forward to seeing the Wolfe’s juice at Evo to help us secure old school from the Japanese!!!
More than money on the line. Have you ever seen ol skool Japanese matches? Horrible. Time to claim what was ours in the first place.
Cheers for team WolfePack!!!
That’s Graham, Alex, Apoc and Jason Nelson making the comeback this year? Money must have dudes heated!!! That would be a nice team to face Japan. Are 4 of the final 8 coming from the ashes of SF history? Daigo better come out of retirement if Japan wants to keep the title out of the OG’s hands.
Wow, just like ggl.com said in thier recent headline: “Return of the OG’s”
I almost concurr. I will overlook the fact that DOA4 was getting royal treatment over ol skool SF now that it’s been balanced:)
I do have one more request/complaint but that could be rectified at Evo with an announcement a year ahead of time for SFA’s inclusion into Evo. If that happened at Evo I would play for the entire year! haha.
Seriously, who can complain when issues are addressed this quickly? Now to rectify the longest running issue:wgrin:
While posting this just hit me. Wouldn’t it be a great idea to announce '07 tournament games at the close of Evo 2k6. I remember back in the day when players would play more just after a major tournament instead of taking a break. Maybe american’s would be better prepared if we had the list a year in advance. The last years I’ve been playing just before Evo after I find out which games are locked for the year. I think I may play more frequently throughout the year if I had more than a few months notice on what games to focus on.
So, here’s thanks, a reminder of the final SF issue of Evo(re-introduce the alpha series) and a suggestion all in one post. Cooooooooooooooool.
Thanks again for giving ol skool the respect it deserves. I can’t really say how important that is to long-time Evo supporters and how appreciative I am for you staff finding a way to balance it out. One of the things that made SF special was that the scene really respected its’ own games and with good reason. The SF scene was very critical of all fighters and the scene selected the best games for tournament. I thought Evo was losing some of that integrity. When I see ST at Evo each year, I’m reminded that Evo caters to only the best fighting games regardless of time or graphics. When ST is there(hopefully Alpha soon) and I see VF,GG or Tekken, I know I need to respect those games whether I understand them or not because Evo has a history of high standards and quality. ST is like the seal of quality so when I see which series share the stage with ST I know it doesn’t get any better(aside from re-entering the Alpha series) and I’m proud to have grown with a scene so rich in history and look forward to seeing Tekken and GG history in the making.
I had to rant some. I’m overjoyed that Evo is doing the “right thing” when it comes to ST which is the foundation of Evo as I see it. I know the intention is to do the best thing for Evo, but balancing out the prize money was a classy move and it’s just right to show class when in power.
Adding Alpha for 07 is the only thing that could make this right-er! I’m just satisfied to know that we, the players, matter still. Just…awesome.
Evo staff is rockin’ blox this year! Thanks for hearing us ol fools SRK:wgrin:
When you deposit a check for $5000 into your bank account and don’t claim it they’ll know. The IRS has a new system where they scan in your tax return and the computer runs it against your other finances and uses some formula to determine who should be audited (it goes on the who will be the most profitable to audit). Tho due to a small staff only 1% of the US ends up getting audited and the people who are mainly targeted are people who claim huge deductions, but large unclaimed deposits like $5000 are a big red flag too. Going to a check cashing place isn’t really an option either because all those transactions get reported too (which is why they take down all your ID info)
Best thing to do is just report it, you’ll probably have to pay like $1600 tax on it, but it’s not worth the risk because you could end up with huge fines or even end up in jail as a result.