Does anyone know if they are gifting the watches to the celebrities in which case they would have to pay taxes at their income bracket, say 30-50% to recieve it or is it on loan so they get it free for a period of time?
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Celeb watches, on loan or gift plus tax burden?
- Thread starter Nicklaus
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It's at max a 17k to 20k watch. These celebs are making so much money that the watch is like our typical lunch purchase (maybe, exaggerating).
These people live different lives than we do,
$17,000 Apple Watch ain't nothing to them.
http://www.inquisitr.com/1709946/solange-knowles-beyonces-sister-owes-back-taxes/
$17,000 Apple Watch ain't nothing to them.
First of all, it's not 50%. Secondly, Apple most likely have it to them and also paid the associated tax giving it a net zero affect to them.
My point is that they could care less, I know the tax isn't really 50%, but most celebs wouldn't care if it was since even a tax-only Watch is a deal for them.
More likely than not, Apple may have actually paid some more prominent celebs additional money outside of just gifting the watch+tax, it is great advertising for them.
usually celebrity gifts are coordinated with their respective pr teams.
with the two previous agencies i've worked for, you arrange a few contracted details....you usually give the celebrity a specific time frame they have to utilize the product and they have to wear it in a way that can be identified easily via press.
side note, their publicists then attain the photos through whichever agency photographed them (they are usually staged) and send out a press release addressing that they wore the item on this day, etc. then that release it sent to every major media outlet and blogger.
with the two previous agencies i've worked for, you arrange a few contracted details....you usually give the celebrity a specific time frame they have to utilize the product and they have to wear it in a way that can be identified easily via press.
side note, their publicists then attain the photos through whichever agency photographed them (they are usually staged) and send out a press release addressing that they wore the item on this day, etc. then that release it sent to every major media outlet and blogger.
Gift - Apple deducts as product promotion expense. Apple likely covers the tax too as Stars are quick to say "the rich" must pay there fair share but they don't think they are "the rich." The MPAA had to abandon gift bags for all celebs at the Academy Awards a few years ago b/c the receiving celebs complained about the tax bite and the MPAA wasn't going to cover it.
Ha. Ha. You are so quick to finger wag you must not have had time to read the first paragraph that stated only select stars got bags, not all, as I wrote. It use to be that all attendees got bags. Now it's just those named in the article.
So take this as a teachable moment and know what you are talking about before criticizing
. It will make you look smarter vs a bombastic....