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Monday, January 12, 2015

$100,000 Travel Channel Giveaway

Travel Channel has a great new giveaway going on now for a $100,000 trip of a lifetime to Hawaii. Entries accepted through 3/24/15 for US residents who are 21+. But, don't enter it for the trip.

Here is the itinerary:
  • Round-trip first-class air for winner and 1 guest to and from Maui, HI
  • 14 nights’ first-class hotel accommodations throughout the Hawaiian Islands (4 nights on Maui, 3 nights on Kauai, 3 nights on Lanai and 4 nights on Oahu)
  • Island-hopper flights between islands
  • Acrobatic ride and air tour of Oahu in a 1940s Stearman biplane
  • Private Napali kayak tour
  • Private tour of Pearl Harbor
  • Private tour of the Honolulu Fish Auction, including breaking down a giant ahi tuna
  • Scuba dive or snorkel through the “Cathedrals” of Lanai
  • Private helicopter tour of the volcanoes, including a hike through Hawaii Volcanoes National Park
  • Rappel alongside a waterfall in Maui
  • Zip-line excursion at Piiholo Ranch
  • Helicopter tour of Manawaiopuna Falls (made famous in Jurassic Park)
  • VIP dining at Alan Wong’s
  • Day out with chef Mark Noguchi
  • Mixology lesson at Pint & Jigger pop-up bar
  • 1-day motorcycle rental and riding tour in Kona
  • Tour of Volcano Winery
  • Private boat excursion, including an ocean swim with wild dolphins
  • Tour of Kahua Ranch and ATV adventure
  • $25,000 spending money
  • Luxury car rental for the duration of stay
  • All taxes related to accommodations and airfare
  • TEAM traveler management services, including telephone contact and correspondence, securing of liability releases, scheduling of travel dates and 24-hour toll-free telephone assistance
  • TEAM professional travel planning and coordination, including a dedicated travel specialist, booking and coordination of air, hotel and activities, and preparation of a day-by-day itinerary enclosed in an official travel document case with all necessary vouchers for travel and activities
This sounds like a great vacation, especially that $25,000 of spending money. Here's two reasons NOT to enter to win the trip. #1 taxes. You're unlikely to see a dime of the $25,000 in cash. Uncle Sam wants his fair share of winnings. When a prize is over $600, you'll get a 1099-MISC form. I am not an tax professional and this is not legal advice, but most of that $100,000 will go right to the US government. More importantly though is reason #2. There is an alternative prize. If you don't want the great vacation, you can take a prize of $75,000 in cash. Now, you're still going to get taxed on that, too, but after taxes, you'll still end up with lots more cash than had you taken the trip.

Yes, the trip is a great prize. But, don't enter for that. I'm not saying don't enter. All I'm saying is enter to win the cash, not the trip. You can still take a really nice trip to Hawaii with what you have left.

*Read my Disclosure


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