The cost of telling the truth

For a family that just got stiffed out of $50,000, the Smith family seemed pretty chipper today when national TV asked them to get up early in Faribault.

One of the Smith kids made an impossible hockey shot in a contest for $50,000, but the contest underwriters wouldn’t pay the money because the a twin brother subbed for the one whose name was drawn.

“Being honest and truthful, it turns out good in the end,” Kim Smith, the boys’ mother said.

“Some people wouldn’t tell the truth, so it’s kind of cool that we did,” one of the lads told NBC’s Today Show.

The underwriters are donating $20,000 to youth hockey programs in the area, instead.

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  • How refreshing…TRUTH over GREED….what a concept.

  • Paul

    //How refreshing…TRUTH over GREED….what a concept.

    Too bad GREED is what prevailed in this case. The greed of the underwriter, that is. After all, they saved $50k by not paying the kid, and then donated $20k to charity. What happened to the other $30k? Greed.

  • tboom

    Hey Bob, do you have a News Cut consulting tax attorney?

    I heard this morning that the $20,000 donation was made “in the name of Nate and Nick Smith”. I’ve always wondered when donations are made “in the name of”, does the named person get to take a charitable tax deduction? In this case, can Nate and Nick get tax deductions? Or, since the twins are dependents, can their dad take a $20,000 charitable tax deduction?

  • BJ

    In honor of, or in memorial to, donations are not written off by those they are in honor of.

    Not a tax attorney just work with a lot of nonprofits.

  • Suzannne

    I agree with Paul. This was greed on behalf of the underwriters. The money could have gone a long way for these kids’ college tuition.