The winner on all these giveaways is the IRS. ALWAYS take the cash equivalent, whatever they reduce it to.

The most insidious are the luxury prizes. The car, the cruise for two or some "fabulous" piece of jewelry. TAKE THE CASH.

Ready for the 1099 on January 31? Oh yes, the Caribbean cruise for two, that you could have could have purchased on the net for $1,200 will be billed at the full retail rate, probably close to $5,000, so at 20% tax rate, you pay $1,000. Was it worth "winning?"

It's even worse with high-markup jewelry.