Stanley_FederalIncomeTax-Characterization_Exam_SP11 - EXAM...

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EXAM#_______________ Page 14 of 15 STANLEY/LAW 838B FEDERAL INCOME TAX; LLM 330 TAX CHARACTERIZATION/FINAL EXAM SPRING 2011 PART II – ESSAY QUESTION (100 points total – Suggested time: 90 Minutes) The following news stories appeared on the entertainment news website, Trash TV! -- Trash TV! News EXCLUSIVE: Savvy reality star builds an empire Los Angeles – March 20, 2010 -- As the second season of reality TV phenomenon "Ocean Beach" continues to gobble up the biggest ratings TV has seen in several years, breakout star Eric Sleezo (aka “8- PAK”) has jumped at the opportunity to capitalize on his fame. By year's end, the 29-year-old stands to earn more than $5 million, a source familiar with his finances told TTV! News. "We are really excited about all the opportunities coming Sleezo’s way," said his manager, Mike Peto, who also runs Sleezo’s company, Mindless Entertainment. "He has been able to secure many endorsement deals, business opportunities and additional television offers based on the success of the show. Our goal has always been to try to build a brand if the situation presented itself." The reality star never has been afraid of exposure, especially on a series in which viewers would be hard-pressed to find an episode where Sleezo doesn't take off his shirt. (Sleezo has become synonymous with the show’s catchphrase, “Where’s The Beef?” -- a reference to his muscular upper body. ) Amid hefty and much-publicized salary negotiations for Season 3, the source confirmed that Sleezo is earning close to $50,000 an episode after bonus incentives, based on ratings, and event-appearance fees ranging from $15,000-$50,000 (which is expected to bring him $1 million this year alone). The California native also has developed several products based on his impressive physique – an abs-focused fitness video, "The Beef Workout," and, of course, he has a “Where’s the Beef” iPhone app and a rap song on iTunes. "We have everything from T-shirts and bobblehead dolls to a Halloween costume based on his abs,” said manager Peto.
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  • Fall '
  • Hendrickson
  • Income tax in the United States, Sleezo, Eric Sleezo

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