$140k Oscar Gift Bag Could Cost Nominees A Lot in Taxes

Yep, we're talking about taxes here ... and all signs point to a hefty bill if a majority of these gifts are accepted and/or used. Everything the nominees claim will be viewed as taxable income -- and some experts speculate that they can be taxed at a rate of 50% or higher!

Of course, that probably isn't lost on the stars themselves ... who may not take up any of the offerings being presented. In fact, Distinctive Assets founderexplains that just about $5,000 of the swag bag is made up of actual stuff they can take home ... the rest are services/trips. So, if a majority of the gifts go unclaimed, the bag isn't worth as much.

Rather than make virtuous tearful speeches tonight about how much they care about Ukraine, it might be nice if all the Oscars presenters & nominees auction their revoltingly ostentatious $140,000 gift bags to raise funds for Ukrainian refugees.Still, the fact they're trotting out these gratuitously expensive carrots for the nominees at all -- something that's been going on for years, BTW -- has made some wonder...

Ukraine is top of mind for many, and will likely be addressed ... but perhaps the high-valued goodies could be going toward better causes than just corporate promotion and branding.

The tax man!!!!

140K to celebrities that are worth millions? Why not send all that money to people that are in need of help or send it to Ukraine

Eat the rich

Is this gift bag really necessary? The money spent on that bullshit should be donated to the Ukraine people who could really use it. You should all be ashamed!!

I think actors on that level can afford it. Especially the ones with good honest management and accountants.

Oh no...who fucking cares!!!!

lol as if we should care.

Wait, I need a tissue. 😉

Who fucking cares? They're filthy rich.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Oscar hosts Regina Hall, Wanda Sykes bring good intentions, humor, positivity to 94th Oscars'Our intention is to laugh!' Oscar hosts Regina Hall and Wanda Sykes plan to make the 94th Oscars a celebration, filled with good humor, good intentions and plenty of laughs.
Source: ABC7Chicago - 🏆 284. / 63 Read more »

Final Oscars Predictions: Best Cinematography — ‘The Batman’ Aides Greig Fraser Towards an Oscar for ‘Dune’Variety’s Awards Circuit is home to the official predictions for the upcoming Oscars and Emmys ceremonies from film awards editor Clayton Davis. Following history, buzz, news, reviews and sou… Couple of months ago I came across a recommendation about Arnoldnike93 wealth how he helped investors to earn lots of money with their investments. and I decided to give a trial with the little I have. Now my little has turned into something great which was not my expectation StochasticFilmSociety 'The Freman' (2022) A dispossessed aristocrat (Robert Pattinson) uncovers corruption in the Gotham Water Department while investigating the Sprinkler, a water thief who is targeting Gotham's elite.
Source: Variety - 🏆 108. / 63 Read more »

ABC Oscars correspondents revel in red carpet's returnHollywood Boulevard has been transformed for Oscar's grand return, but it's not quite done yet -- still cloaked in plastic that shrouds it in mystery.
Source: ABC7Chicago - 🏆 284. / 63 Read more »

Oscars 2022: Where to stream ‘Don’t Look Up’ and what our critics thoughtAdam McKay’s divisive Netflix comedy “Don’t Look Up” is one of 10 films nominated for this year's Academy Award for Best Picture. Here's where to watch it, what our critic had to say and what to watch next. Films?
Source: FOX10Phoenix - 🏆 83. / 68 Read more »

Not your parents' Oscars: Diversity on display as stars prep for Academy AwardsThe leadup to Hollywood's biggest night showed there will be pomp and circumstance at the Oscars, but this will not be your parents' Academy Awards. Nobody in this household will be watching.
Source: abc7newsbayarea - 🏆 529. / 51 Read more »

ABC Oscars correspondents revel in red carpet's returnHollywood Boulevard has been transformed for Oscar's grand return, but it's not quite done yet -- still cloaked in plastic that shrouds it in mystery.
Source: 6abc - 🏆 250. / 63 Read more »