Beast Games winner Tyler reveals the real reason he spent any $5.1 million prize money yet

Tyler Lucas was the winner of season two of Beast Games, and ended up taking home a whopping $5.1 million, which he has now had transferred through to him.

However, he admitted to Dexerto that he hasn’t actually spent any of the money yet, as he’s still learning more about how to correctly invest it.

He explained his reasoning behind not touching any of it yet, saying: “I’m just trying to come up with the best plan to move forward with investing my money.

“And once I develop good strategies, then I’ll look to put those into effect and determine what my family and I need.” However, Tyler is still planning on taking “vacations and stuff like that later down the road”, he just wants to get everything else sorted first.

He added: “I’m kind of playing it safe right now just to make the best decisions with the money. I definitely want to make sure that I do what I can to set my kids up for life.”

However, Beast Games season two winner Tyler Lucas hasn’t received the full $5.1 million prize money, as it gets heavily taxed.

Unlike other countries, in the USA winnings from a game show, TV show or competition don’t count as gift and are instead treated as ordinary income. So in the eyes of the taxman, Tyler has essentially just been given a $5.1 million bonus, which can be heavily heavily taxed.

According to USA tax laws the production company must immediately withhold 24 per cent federal tax if a prize is over $5k. However, a prize over $5 million will push Tyler into one of the top tax brackets, meaning he’ll owe more later down the line.

Then as Tyler currently lives in North Carolina, he also gets whacked with a 4.25 per cent state tax on his winnings, meaning he’ll have to pay another roughly $217k to the state.

So, with a federal tax amount of roughly $1.75 to $1.9 million plus the state tax, after everything Beast Games season two finale winner Tyler will lose over $2 million from his $5.1 million pot. Still, he’ll be left with around $3.1 million, which is still an insane amount of money!

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