Rick Devens Faces $300K Tax Hit on Big Brother Winnings
Rick Devens’ Record-Breaking Win and Its Tax Implications
Rick Devens has made history by winning a staggering $810,000 on Big Brother season 28, marking the highest earnings for a single contestant in the show’s history. However, the reality of taxes means that he could see nearly $300,000 deducted from this impressive total.
Breaking Down the Prize Money
Devens’ winnings consist of three components: $750,000 for winning the season, $50,000 for being named America’s Favorite Houseguest, and an additional $10,000 from the Pharaoh’s Curse twist, culminating in a total of $810,000.
The Tax Breakdown
After tax deductions, Devens is expected to take home approximately $530,000. Here’s how it breaks down:
- Federal income tax: $210,000
- State tax: $40,000
- California non-resident tax on prize money: approximately $67,000
Since Devens resides in Macon, Georgia, he and his wife Becca, whom he married in 2012, likely file their taxes jointly. This means their combined income, deductions, and credits are considered on a single tax return.
Additional Income Considerations
These calculations assume that the prize money is the only income for Devens’ household. However, he also holds a position as the Director of Communications at Middle Georgia State University, where his salary is subject to taxation at a rate of around 35% to 37%. This could further reduce his net earnings from the Big Brother prize.
A Unique Achievement in Reality TV
Devens is not only a Big Brother champion but also made waves in the Survivor franchise, competing in seasons 38 and 50. While he finished seventh in season 50, he is renowned for his memorable moments, including a pivotal coin flip with Mr. Beast that secured him immunity and doubled the season’s grand prize to $2 million.
With his impressive track record, Rick Devens continues to be a standout figure in reality television, combining strategic gameplay with significant financial stakes.
Source Reference (thetab.com): Rick Devens could lose almost $300k of his record Big Brother season 28 prize to taxes