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Government

Guess How Much the Fan Who Won $75K (and a Huge Hug From LeBron James) for Epic Half-Court Shot Will Have to Pay in Taxes

Jan. 26, 2013 11:04pm
Michael Drysch, Man Who Sunk Half Court Shot Before LeBron James Hug, Will Have to Pay Massive Taxes on $75K Win

Michael Drysch, center, a 50-year-old computer technician from McHenry, Ill. , celebrates after making a half-court shot to win $75,000 and a hug from LeBron James, during the second half of an NBA basketball game between the Miami Heat and the Detroit Pistons, Friday, Jan. 25, 2013, in Miami. (Photo: AP)

Basketball star LeBron James practically tackled 50-year-old Michael Drysch in excitement after Drysch sunk a half-court shot Friday night, winning $75,000.

DeadSpin described the event:

During [the] Pistons-Heat game, one lucky fan got the opportunity to shoot a half-court hook shot for $75,000. By some miracle, the shot went in, and nobody found themselves more excited about that fact than LeBron James, who rushed onto the court and leaped onto our cargo-shorted hero in a display of unbridled joy. No matter what your opinion on LeBron James is, you have to admit that this moment was absolutely wonderful. We have all just witnessed one man’s life reaching its absolute pinnacle.

“That was crazy,” Heat guard Dwyane Wade said according to AOL Sporting News. “The place erupted. It was like it was when we won the finals.”

Watch the heartwarming video below:

Unfortunately, ESPN notes, that $75,000 prize will be closer to $50,000 by the time the government is through with it.  The now-famous computer technician even joked about the taxes he would have to pay before sinking the shot, it seems!

ESPN relates:

Drysch got tackled by James after the shot went in, but the government also will tackle his $75,000 prize.

“A lot of people don’t realize: You don’t win what you win,” said Robert Raiola, an accountant with FMRTL in Cranford, N.J., whose clients include athletes.

It’s not something Drysch was unaware of. When asked Friday night on NBA TV what he would do with the money, Drysch responded, “Give the government half.”

Well, at least it won’t be that much.

Drysch’s prize is a lump sum based on that $75,000 number, but IRS regulations stipulate that 25 percent of the prize must be withheld for federal income tax.

That leaves Drysch with a check of $56,250.

Then consider the fact that he is a resident of Illinois, which will take out a 5 percent state tax on the prize, regardless of income.

His winnings now are $52,770.

–

Related:

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Comments (77)

1 2
  • RDMercer
    Posted on January 27, 2013 at 11:15am

    And people think we don’t need a revolution to get rid of the criminals in Wash. Legalized extortion isn’t it nice.

    Report this comment

    RDMercer  
    • BestBearHugsEver
      Posted on January 27, 2013 at 1:06pm

      This bear hug story is better than the Obama bear hug story.
      -Scott
      Author of The Best Bear Hugs Ever

      Report this comment

      BestBearHugsEver  
    • A_CALL_TO_CONSCIENCE
      Posted on January 27, 2013 at 1:17pm

      I think he meant he would have to be forced under threat and duress to give them money or thugs would come and take him away.

      Report this comment

      A_CALL_TO_CONSCIENCE  
    • busterpuddles
      Posted on January 27, 2013 at 6:04pm

      If it were in Texas, the money he would save on state taxes would buy him:
      A hottub or
      A fairly decent used car for his kid or
      A vacation or…

      Report this comment

      busterpuddles  
  • ADAMISGOD
    Posted on January 27, 2013 at 10:56am

    Soiled dove into Obama’s *********. You’ve already had too much to eat in there. Climb out of there and see what your Obama vote has brought about.

    Report this comment

    ADAMISGOD  
  • weareskrewed
    Posted on January 27, 2013 at 10:21am

    Uh oh; I think his foot touched the center line. I wouldn’t be celebrating yet; you can be sure that tape is going to be scrutinized to death !

    Report this comment

    weareskrewed  
  • SpankDaMonkey
    Posted on January 27, 2013 at 9:15am

    .
    He ought to pay it in pennies………..

    Report this comment

    SpankDaMonkey  
    • Nunyunuwi
      Posted on January 27, 2013 at 11:10am

      back in the 1970′s a guy my dad knew did just that, dont remember if it was a bank or the irs, but after years of being hounded, finally he had saved to pay off a debt, the receiver got a wheel barrow or several full of pennies dumped on their office floor, I think it was like 30,000 dollars worth. payment if full, have fun counting it.

      Report this comment

      Nunyunuwi  
    • Arizona Don
      Posted on January 27, 2013 at 12:43pm

      I knew a guy who did that in about 1968 when they had to count by hand. He was being harassed about registering a home made trailer here. The amount was only about $60.00 or so but he paid it in pennies, in paper sacks and intentionally shorted it 5 cents it so they would have to count it twice. After they did he just said he must have made a mistake and paid the other nickel. However, that is no longer allowed at least here. But he enjoyed it at the time.

      Report this comment

      Arizona Don  
    • RemoteCoderz
      Posted on January 27, 2013 at 7:07pm

      That won’t be possible, as the people who award the contest, take out the taxes before the winner receives it.

      They get theirs first, then you.

      Report this comment

      RemoteCoderz  
  • sligresda
    Posted on January 27, 2013 at 7:37am

    ummmm, 56 thousand is closer to 55 thousand than it is to 50 thousand. im jus sayin, that statement was a skosh misleading. not that 55 thousand makes it any better though.

    Report this comment

    sligresda  
    • RJJinGadsden
      Posted on January 27, 2013 at 8:02am

      Read the last line of the story:
      “His winnings now are $52,770.”
      That does make his winnings closer to $50,000.
      Apparently, your statement is just a SKOSH misleading?
      One should rather remain silent and just thought a fool, rather than open one’s mouth and remove all doubt.

      Report this comment

      RJJinGadsden  
  • woodyee
    Posted on January 27, 2013 at 7:28am

    Would somebody do me (US) a favorand run the numbers to see what he’d be left with if he were a NJ, NY, or CA resident? Compared to FL or NV?

    Boy you guys are up EARLY!!!

    I’m up early (it’s 4:26AM California) because I’m going to the gun show today, one hour away.

    Report this comment

    woodyee  
  • PAUL GULLO
    Posted on January 27, 2013 at 6:07am

    Try owning a machine shop in Ct.

    Report this comment

    PAUL GULLO  
  • Brokendrum
    Posted on January 27, 2013 at 5:46am

    It is interesting that if you SUE someone it is tax free but if you get gains like this without a Lawyer involved it is taxed to death.

    And you wonder why people are so quick to sue someone these days.

    Report this comment

    Brokendrum  
    • loriann12
      Posted on January 27, 2013 at 7:30am

      And if you OWE the government, you also owe interest. I want to know how quick he gets the check, and how fast the money goes to the government.

      Report this comment

      loriann12  
    • RJJinGadsden
      Posted on January 27, 2013 at 8:06am

      BROKENDRUM, I’m not so sure about that. I do seem to recall that Rodney King’s attorneys charged him more than he received from the suit. Essentially, King got nothing and the attorneys went on to bill the City of LA for even more in their effort to cover their billing.

      Report this comment

      RJJinGadsden  
    • Dagnabbit5
      Posted on January 27, 2013 at 8:08am

      That’s not completely true. It depends on the kind of settlement it is. Even if it is tax free, the lawyers take more of the settlement than the government would.

      Report this comment

      Dagnabbit5  
    • right field
      Posted on January 27, 2013 at 11:53am

      Obama’s best friends:
      #1- Trial Lawyers
      #2- MSM
      #3- Unions
      Sue + lie + give $ to Marxist = formula for tyranny

      Report this comment

      right field  
  • Imprimatur
    Posted on January 27, 2013 at 3:20am

    Because the government built that shot this man successfully made he has to give that percentage to the bloodsuckers.

    Report this comment

    Imprimatur  
  • The_Almighty_Creestof
    Posted on January 27, 2013 at 3:11am

    I work anywhere from 70-100 hours a week most of the time. I’m salary though…so I only get paid for 40…but I do consistantly get a bonus around $25K…Which is considered by the government to be “unearned income” and is zapped with luxury taxes. If I’m lucky, I get to keep a tad more than half.

    This guy made out OK as far as I’m concerned.

    Report this comment

    The_Almighty_Creestof  
    • Guitarcarl
      Posted on January 27, 2013 at 4:23am

      No, he didn’t! Neither should you be forced to pay that much in taxes. We all should be outraged and until enough of us are you are going to have to keep paying those high taxes and more.

      Report this comment

      Guitarcarl  
    • The_Almighty_Creestof
      Posted on January 27, 2013 at 5:18am

      I’ve been paying that % for 20 years on my bonuses…a flat 48% comes out for federal…and it has been under both sides of the same corrupt, incompetant, deceitful, political coin. Until they abolish the scam known as the IRS & their tax code and go to a straight tax % for everyone with no deductions, nothing will change.

      And this pipe dream won’t happen until an amendment is passed calling for criminal charges to be filed if a balanced budget is not created and adhered to each year.

      Report this comment

      The_Almighty_Creestof  
    • NoSleeper
      Posted on January 27, 2013 at 5:39am

      Income, in the form of wages, should not be taxed. People must work to earn money to buy food, clothing, housing, etc. By taxing one’s income, the Government is essentially taxing the sweat of one’s brow, taking the fruits of one’s labor…individuals basically work several months each year to pay their tax burden, which equates to modern day slavery.

      The ‘progressive’ structure taxes individuals differently and is, therefore, unfair at best. Since nearly 50% of the people pay no federal income taxes at all, it can hardly be considered ‘fair.’
      A flat tax applied to everyone equally would be more ‘fair,’ but it assumes that it is acceptable for the Government to tax your wages; it is not.

      How about this – eliminate the income tax all together, along with all the loopholes, exemptions, exclusions and credits…and the large tax code, bureaucracy and armed jack-booted thugs required to enforce it…and replace it with a national sales tax? All would pay based on what they spend. The wealthy would pay more since they purchase luxury goods, while the less wealthy would still pay their fair share. Don’t want to pay the tax? Don’t buy the goods!

      Report this comment

      NoSleeper  
    • The_Almighty_Creestof
      Posted on January 27, 2013 at 5:47am

      How about we go back in time & smack Woodrow upside his head with a three week old dead tuna?

      Report this comment

      The_Almighty_Creestof  
    • DougHuffman
      Posted on January 27, 2013 at 6:59am

      It is good that Woodrow was called out as culprit.

      Retire as early as one can afford is a practical implementation of striking a la Atlas Shrugged.

      Report this comment

      DougHuffman  
    • circleDwagons
      Posted on January 27, 2013 at 7:29am

      @Almighty. Agree with your view on the IRS and taxes, just don’t understand why you would work all those hours. If one is his own boss I understand. Or you could run for congress:)

      Report this comment

      circleDwagons  
    • loriann12
      Posted on January 27, 2013 at 7:34am

      I’m all for a flat tax, but I’d allow some deductions, just not the monster we have now. I’d allow mortgage interest and charitable contributions. 1), everyone who actually buys a house and pays a mortgage, probably did so knowing they would be able to take that off their taxes. 2) if you take away charitable contributions, some (and I stress some) won’t give at all. Sure, businesses may take advantage of it, but it’s going to a good place. The problem we have is mostly earned income credit. They get back MORE than they even would have put in. No one should get a refund larger than the amount they would have put in. In otherwords, deductions can only cancel out what you would have paid, not give more. Then everyone would have skin in the game, and there would be no incentive for welfare recipients to have 15 babies.

      Report this comment

      loriann12  
  • CanteenBoy
    Posted on January 27, 2013 at 2:25am

    Free money, after taxes. Enjoy it.

    Report this comment

    CanteenBoy  
  • F_Obama
    Posted on January 27, 2013 at 2:21am

    The ad’s on The Blaze are ridiculous.

    Report this comment

    F_Obama  
  • F_Obama
    Posted on January 27, 2013 at 2:19am

    F_Taxes

    Report this comment

    F_Obama  
  • needanotherReagan
    Posted on January 27, 2013 at 1:15am

    25% of $75,000 can buy a lot of Obumblerphones.

    Report this comment

    needanotherReagan  
    • watt
      Posted on January 27, 2013 at 1:39pm

      Considering the program you’re referring to was started under Reagan your comment, combined with your user name, is hilarious.

      Report this comment

      watt  
    • catty
      Posted on January 28, 2013 at 10:42am

      your hero created the “Obama” phone dumbass

      Report this comment

      catty  
  • Raging_Waters
    Posted on January 27, 2013 at 12:52am

    Hey, the taxes are necessary. How else could we fund things like shrimp on treadmills?

    http://www.youtube.com/watch?v=cMO8Pyi3UpY&feature=youtube

    Report this comment

    Raging_Waters  
  • Jhn'1
    Posted on January 27, 2013 at 12:50am

    the 25% is the initial withholding, not the total tax.
    With his job, he is probably at the 39%, so unless he spends it on something deductible, take 39% off that $75,000.

    Report this comment

    Jhn'1  
  • Jake Dog2
    Posted on January 27, 2013 at 12:22am

    He can now sell the jacket he was wearing on E-Bay for more money than the basket throw because LeBron James touched it. Oh no more taxes.

    Report this comment

    Jake Dog2  
  • TJexcite
    Posted on January 27, 2013 at 12:10am

    I am sure LeBron could find that 25K in his gym bag to give to the guy but, that to would be taxed.

    Report this comment

    TJexcite  
  • NigelTufnel
    Posted on January 27, 2013 at 12:08am

    There is a word that is being bantered about more and more lately by the left. It’s really more of a condition. They are using it more and more as a tool to make people feel somewhat guilty and then shame them somewhat into being more responsible communitive citizens. This guy was simply “lucky”. Now pay-up.

    Report this comment

    NigelTufnel  
  • OlefromMN
    Posted on January 27, 2013 at 12:02am

    $56K net? That’s an “epic” bummer.

    Report this comment

    OlefromMN  
  • katie5
    Posted on January 26, 2013 at 11:52pm

    Those funds now become someone else’s “Obama stash cash.”

    Report this comment

    katie5  
  • zman61
    Posted on January 26, 2013 at 11:50pm

    I did not see a tall thin guy with a red white and blue suit on out there making that shot. So he should keep his f-ing hands to himself and leave this guy, and all of us alone.

    Report this comment

    zman61  
  • 13a
    Posted on January 26, 2013 at 11:49pm

    Hopefully he stocks up on KY jelly before the IRS kicks in his door.

    Report this comment

    13a  
  • crackerone
    Posted on January 26, 2013 at 11:18pm

    The $56,000 will be taxed as income in 2013. The 25% the IRS took is only a down payment.

    Report this comment

    crackerone  
    • CatB
      Posted on January 26, 2013 at 11:24pm

      Exactly .. he will have to declare it as income .. and that along with his salary will be used as his tax base .. he will owe MORE to the feds. And the state will get there’s also. If he lives in a city .. he could owe there also.

      Report this comment

      CatB  
    • texanpatriot
      Posted on January 26, 2013 at 11:29pm

      If he was a real patriot he can just give the entire amount left over to the Obama Inauguration fund. Man, what a guy!!!

      As a matter of fact I need to go find my checkbook too…

      Report this comment

      texanpatriot  
    • SoiledDove
      Posted on January 26, 2013 at 11:43pm

      You people who yell and scream about tax policy should really learn how tax policy works. He will declare 75,000 as income, not 56,000. The 25% the government took up front isn’t any different than the amount being withheld each month from your paycheck. It is taken to make sure this don’t get hit with a huge tax bill all at once later. Furthermore, if it turns out his tax burden is actually less than the 19,000 that was collected, he’ll get it back in his refund. This is how taxes work. You’re welcome.

      And besides, what is the point of this article? Did you really think that when this guy won $75,000 that he wasn’t going to have to pay income taxes on it?

      Report this comment

      SoiledDove  
    • Snowleopard {gallery of cat folks}
      Posted on January 26, 2013 at 11:56pm

      Indeed, and how soon until the Democrats impose a near 100% tax rate on all winnings people make.

      Report this comment

      Snowleopard {gallery of cat folks}  
    • CatB
      Posted on January 26, 2013 at 11:59pm

      Hey idiot “SOIL” .. I know a little something about taxes .. and yes he will be taxed on that entire $75,00 along with wages which most likely knowing what I.T professionals make .. will put him into a higher bracket AND HE WILL OWE MORE .. you are welcome .. from someone who has written those checks.

      Report this comment

      CatB  
    • SoiledDove
      Posted on January 27, 2013 at 12:10am

      @Cat. So? He’ll keep a heck of a lot of money that he just won for making a lucky shot.

      Report this comment

      SoiledDove  
    • CatB
      Posted on January 27, 2013 at 12:16am

      @SOIL .. “lucky shot” .. well it was HIS lucky shot .. I bet you think he should send in what is “fair’ … according to whom? Government will just waste it anyway .. doesn’t matter they just print (invent) money .. we could all stop paying tomorrow .. wouldn’t slow down the spending one dime.

      Report this comment

      CatB  
    • Cosmos102
      Posted on January 27, 2013 at 12:22am

      @Soileddove

      Do you know how many in Congress feel the way you do? 0%. That’s right! They shelter their money and get rich unfairly by confiscating wealth from the citizens they have been elected to serve. What a joke. And what a joke YOU are. We don’t have to live this way. If We The People don’t stand up to our tyrannical Govt our Dollar will soon tank and be worth zero, thanks in large part to your emperor, Obama. Do me a favor and go screw yourself. Idiot.

      Report this comment

      Cosmos102  
    • SoiledDove
      Posted on January 27, 2013 at 12:34am

      @Cat. Yes. Waste. All I know is that it is sure nice to have highways and interstates and clean water coming out of my faucet and loans so that I can go to college and flood insurance and food that is safe to eat and drugs that are safe to take and a military to protect us and education for my children and…. do I really need to keep going?

      Report this comment

      SoiledDove  
    • SoiledDove
      Posted on January 27, 2013 at 12:38am

      @Cosmo. You know, there are people in this world who actually have to live under tyrannical governments. How about you don’t insult them by comparing our government to what they have to experience.

      Report this comment

      SoiledDove  
    • Slice_Of_Life
      Posted on January 27, 2013 at 1:04am

      So SOIL, You sound like “that guy” who said that people didn’t build their own business-that the government and others helped. So the gentleman who made a very difficult basketball shot under unbelievable stress isn’t deserving of taking home the $75,000 prize winnings? It sounds like you won’t be happy unless he is taxed 90 to 100% because he got something you didn’t. Soil, did that green eyed envy monster that lives inside your head tell you that it isn’t fair that someone got something you didn’t? You can’t seem to be happy for the gentleman, yet you jump right in there to see how much of his winnings will end up in “that guy’s” stash. Soil, you waiting on your next entitlement check or government freebie handout and seeing if there is something else out there that you can get your grubby hands on? Sheeesh…..And BTW, I’m not “tax” challenged either and it’s pathetic that the big bad government gets that much from this fortunate man. Next…..

      Report this comment

      Slice_Of_Life  
    • CanteenBoy
      Posted on January 27, 2013 at 2:29am

      Soiled is spoiled.

      Report this comment

      CanteenBoy  
    • crackerone
      Posted on January 27, 2013 at 10:18am

      @Joes Soiled Depends

      I’m afraid to ask what country you’re from, but sadly, I already know the answer. It sounds like he has a good job, he can afford basketball tickets and he knows a good chunk of the $75,000 will go to taxes. Pretty sure, combined with his income, and his wife’s/husband, if he has one, he will not be getting a refund for 2013 tax year.

      I might suggest Soiled, if you get a windfall, hold a little back for “uncle B O” and not spend your entire winnings on tranny hookers, strip clubs and blow. But what the heck soiled, it is “your” money.

      Report this comment

      crackerone  
  • Darmok and Jalad at Tanagra
    Posted on January 26, 2013 at 11:14pm

    But does he really need that much……since it is found money, he couldn’t just take 20,000 and be happy, come on, we have bills to pay and the Govt. NEEDS that money more than he does. The more I think of this, he should be satisfied just keeping $10,000 and the rest should go to food stamps. All I can think is what a selfish person.

    Report this comment

    Darmok and Jalad at Tanagra  
    • The-Monk
      Posted on January 26, 2013 at 11:22pm

      Hi Darmok,

      He should be taxed even more for looking like Hugo Chavez….. LOL

      Good thing he didn’t win this in France.

      Report this comment

      The-Monk  
    • circleDwagons
      Posted on January 26, 2013 at 11:23pm

      Does he really need 10k? For throwing a ball. Maybe 750

      Report this comment

      circleDwagons  
    • CatB
      Posted on January 27, 2013 at 12:25am

      ” He didn’t throw that ball ” BHO

      Report this comment

      CatB  
    • Darmok and Jalad at Tanagra
      Posted on January 27, 2013 at 1:06am

      Hey Monk, CATB:

      Maybe they should have just gave him a free bottle of water and an IPOD of Obama’s speeches, if it’s good enough for a Queen…….

      Report this comment

      Darmok and Jalad at Tanagra  
    • RJJinGadsden
      Posted on January 27, 2013 at 8:36am

      I can only imagine that the taxes are more than enough in the Miami area, but can you imagine if this had occurred in New York City (pronounced in the Pace Picanti Sauce ad style)? They could have paid the guy in coins from pocket change with those taxes, and this morning’s New York Times’s headline would still have labeled him one of the Evil Wealthy.

      Report this comment

      RJJinGadsden  
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