Derek Frazier says he is still paying taxes on Big Brother winnings
Big Brother 23 runner-up Derek Frazier has a warning for future players. Fresh off the Big Brother 27 cast naming its winner, Derek has advice for the folks who just won cash prizes.
As a reminder, Ashley Hollis won $750,000 and Vince Panaro took home $75,000 as the runner-up. America’s Favorite Houseguest winner Keanu Soto scored himself a $50,000 prize.
The downside to winning these cash prizes is that they also come with tax bills. And Derek has now shared the stress he is going through trying to pay those taxes.
Derek Frazier has struggled with taxes on Big Brother 23 winnings
The BB23 season saw Xavier Prather win the $750,000 for finishing in first place, and runner-up Derek Frazier netted himself a nice $75,000 payday.
According to Derek, he originally paid $12,000 in taxes from those winnings, but that didn’t cover his full tax bill. He also added that he has paid $30,000 in taxes on his winnings over the years, but is still making payments on the original tax bill.
Derek also noted that he is open to appearing on more reality TV shows so that he can earn appearance fees or even net some additional winnings, which would help him pay off his original tax bill.
Below is a video of Derek speaking about his experience on social media, and it’s a lesson that while many of these reality TV prizes are nice, most of them don’t set you up for retirement.
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