Wall Streeters have a lot to give thanks for this holiday season. Earnings are up, so bonuses are up. And that, in turn, means taxes are up, too. The New York Post just reported that Wall Street Bankers Are Throwing Excessive Parties To Dodge Taxes . But will the wining and dining actually put money back in their pockets? Or is the tax angle just a convenient excuse to party up a storm on the company tab?Continue reading →
The holiday season is in full swing, and we expect you’re on your best behavior to make Santa’s nice list. But there’s one famous guy who works harder than anyone else to be naughty this time of year, and that’s everyone’s favorite Dr. Seuss anti-hero, the Grinch.
Fortunately, the Grinch can take advantage of all sorts of tax deductions to help pull off his Grinchy plot. And, here’s another reason for the Grinch to be happy that his heart grew three sizes that day — and he gave Christmas back. If he really had stolen Christmas, he would have owed tax on it! Ill-gotten gains are just as taxable as any other kind of income, right? We imagine all those flu floopers and tar tinklers would be treated as ordinary income.
This holiday season, we wish you and your family all the best. And remember, don’t hesitate to call us with any year-end finance questions!Continue reading →