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WotC Seeking Your Setting Proposals (was "Big Wizard announcement")
- Thread starter Arcane Runes Press
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NoOneofConsequence
First Post
Mistwell said:
I think that seeing this in terms of a contest is a misnomer. It's really a call for expressions of interest in tendering for a development project. I think that's why Wizards has been so strict on the submission guidelines and why they're putting it through so many stages. It's not a lottery with a minor skill test thrown in to dodge the law (something that's actually very common in Australia). It's the first stage of a tendering process.
Ranes
Adventurer
Okay, I've read all 49 pages over the last few weeks and the low points have been the database doom mongers and the alleged attorneys. What is the proper collective noun for attorneys anyway, an objection?
Trix had the best suggestion of late a few pages back. Who else would like to see the WotC Bin-Cam? It would only need to be updated once a day, just after the mail arrives. It could be set up by one of the WotC R&Ders. After all, it's not like they're busy developing new campaign settings.
Just kidding, folks. Aw, flame me anyway.
Ranes
Trix had the best suggestion of late a few pages back. Who else would like to see the WotC Bin-Cam? It would only need to be updated once a day, just after the mail arrives. It could be set up by one of the WotC R&Ders. After all, it's not like they're busy developing new campaign settings.
Just kidding, folks. Aw, flame me anyway.
Ranes
Last edited:
Irysangel
First Post
As a side note...
To the folks that were discussing the 50% taxes on your 'winnings'. I actually do accounting for a living, and if, according to the way they're describing this, was a prize, then yes, you would pay an enormous amount of taxes on this.
However....
You are contracting for WotC provided they pick you. Thus they are writing you a fat contract-labor check for $120K approximately. Rather than put you on the payroll (and pay taxes/benefits for you as an employee), they are handing you the money. *You* are responsible for your own taxes come April 15. Depending on your income for the year (and since we're gamers, it might not be much
), you will be responsible for 15.3% before any federal on the $120K (for SS & Med) and then of course, federal taxes. $120K falls into the 25-30 % category if I'm correct. Again, however, you are only taxed 25-30% of a particular amount of this money (depending on your claimants for the year. It also depends on how much additional you've earned for the year (ie. regular salary).
Anyhoo, to break it down, without any extra income coming in, I calculated this at S/1 and got about $25K in federal taxes, and approx $10K for SS, and $9K again for Medicare. So out of the $120K you see about 75K.
There's lots more variables of course, but that's just a ballpark for those wondering. I'd get more detailed but I don't have a Circular-E in front of me.
Well, that and I just geeked myself out to the point of embarassment.
(I think I'm the only one that was dwelling on this for a while. Don't mind me while I go back into my hole).
To the folks that were discussing the 50% taxes on your 'winnings'. I actually do accounting for a living, and if, according to the way they're describing this, was a prize, then yes, you would pay an enormous amount of taxes on this.
However....
You are contracting for WotC provided they pick you. Thus they are writing you a fat contract-labor check for $120K approximately. Rather than put you on the payroll (and pay taxes/benefits for you as an employee), they are handing you the money. *You* are responsible for your own taxes come April 15. Depending on your income for the year (and since we're gamers, it might not be much
), you will be responsible for 15.3% before any federal on the $120K (for SS & Med) and then of course, federal taxes. $120K falls into the 25-30 % category if I'm correct. Again, however, you are only taxed 25-30% of a particular amount of this money (depending on your claimants for the year. It also depends on how much additional you've earned for the year (ie. regular salary).Anyhoo, to break it down, without any extra income coming in, I calculated this at S/1 and got about $25K in federal taxes, and approx $10K for SS, and $9K again for Medicare. So out of the $120K you see about 75K.
There's lots more variables of course, but that's just a ballpark for those wondering. I'd get more detailed but I don't have a Circular-E in front of me.
Well, that and I just geeked myself out to the point of embarassment.
(I think I'm the only one that was dwelling on this for a while. Don't mind me while I go back into my hole).
Nah
Nah! I hadn't really thought the tax part out yet so that saved me precious thinking energy which I have now spent posting. So I guess i lost it anyway...oh well. Blast.
Of course you could just take the money and not report it. I guess that would be breaking the law, though. Makes me wonder how much money ppl get and just don't report. Hmm.
Nah! I hadn't really thought the tax part out yet so that saved me precious thinking energy which I have now spent posting. So I guess i lost it anyway...oh well. Blast.
Of course you could just take the money and not report it. I guess that would be breaking the law, though. Makes me wonder how much money ppl get and just don't report. Hmm.
Re: Nah
I would really advise against it, especially for anything over $1,000. I think you can get paid like $999 without having to report paying someone (this is the employer). You better believe, especially since they are writing a check, that WotC is going to claim the payment on their tax return. They will probably file a 1099 with the IRS. If you don't claim it, you better believe that the IRS is going to find it and audit the hell outta you.
You DON'T want to pay the penalties for that.
Andy Christian
Jamie44 said:
I would really advise against it, especially for anything over $1,000. I think you can get paid like $999 without having to report paying someone (this is the employer). You better believe, especially since they are writing a check, that WotC is going to claim the payment on their tax return. They will probably file a 1099 with the IRS. If you don't claim it, you better believe that the IRS is going to find it and audit the hell outta you.
You DON'T want to pay the penalties for that.
Andy Christian
Mistwell
Crusty Old Meatwad
reddist said:
Well, if the entries do become a free mailing list for WOTC direct mail sales, that would pretty much seal the deal on this being a contest under several gaming/promotions/contest state laws (no matter what people call it, claim it is, think it is, or compare it to).
It would be a bad idea to spam the entrants.
Michelle Lyons
Explorer
Re: As a side note...
No, I'd been pondering the exact same thing. Thank you. That helps tremendously.
Irysangel said:
No, I'd been pondering the exact same thing. Thank you. That helps tremendously.
Ghostwind
First Post
Spending the winnings already
Since some folks are already worried about taxes and spending the money before it's even been awarded, let me give one little piece of professional advice to the lucky people who are selected to write the 100 page setting and ultimately, the final one chosen:
If you do not have an accountant at this point, get one. A good accountant will help you in many ways, especially when it comes to taking the sting out of the 1099 form and taxes in general. A follow-up piece of advice that ties to the first is save your receipts for anything that can be quantified as related to the income you received. This means saving all those receipts for your gaming books which just became resource and reference material and therefore deductible under expenses. Printer paper, ink cartridges, pens, etc. also fall into this category.
Nearly everyone who writes professionally either has an accountant on retainer or else is tax saavy enough to handle things on his/her own. The savings my accountant finds on my return alone more than justifies his fees. And I suspect this is the case across the board with other writers.
Just something else to ponder for those of you who are already planning on how to spend those dollars...
Since some folks are already worried about taxes and spending the money before it's even been awarded, let me give one little piece of professional advice to the lucky people who are selected to write the 100 page setting and ultimately, the final one chosen:
If you do not have an accountant at this point, get one. A good accountant will help you in many ways, especially when it comes to taking the sting out of the 1099 form and taxes in general. A follow-up piece of advice that ties to the first is save your receipts for anything that can be quantified as related to the income you received. This means saving all those receipts for your gaming books which just became resource and reference material and therefore deductible under expenses. Printer paper, ink cartridges, pens, etc. also fall into this category.
Nearly everyone who writes professionally either has an accountant on retainer or else is tax saavy enough to handle things on his/her own. The savings my accountant finds on my return alone more than justifies his fees. And I suspect this is the case across the board with other writers.
Just something else to ponder for those of you who are already planning on how to spend those dollars...
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