Accountants Behaving Badly

Actress Alyssa Milano first gained fame playing Tony Danza’s daughter on the television sitcom Who’s the Boss. The show ran for eight seasons, snagged ten Emmy and five Golden Globe nominations (winning one of each), and established Milano as a bone fide teen idol. While her star has dimmed since then, she continues to work in Hollywood and seems to be …

IRS Slapshot Misses

Summer is here, so naturally, everyone’s thinking about hockey. The Pittsburgh Penguins have just taken their second Stanley Cup in a row, and the rest of the NHL is working to make sure there’s no three-peat. But one of those teams just won a different sort of contest, in Tax Court of all places. So let’s go to the tape …

Clean Tax Savings Here

Businesses generally try to get the highest price possible for their products. It’s called “capitalism,” and it generally works to establish “equilibrium prices” between knowledgeable buyers and willing sellers. But every so often, this mechanism breaks down and prices soar, resulting in howls of “price gouging!” from ticked-off customers. This is especially true with pharmaceuticals. In 2015, hedge fund manager …

This is Spinal Tax

In 1984, the documentary filmmaker Marty Di Bergi scored a hit with This is Spinal Tap, a look inside Britain’s loudest band and their 1982 Smell the Glove concert tour. Lead singer David St. Hubbins, lead guitarist Nigel Tufnel, and bassist Derek Smalls, were joined by a series of drummers who died under mysterious circumstances, including spontaneous combustion and a bizarre gardening accident …

Does Your Money Need a Passport?

Economic inequality is a hot topic in today’s world. Researchers here and abroad consistently show the top 1% of earners gobbling a disproportionate share of gains throughout the world. This trend has more and more thinkers debating what to do about it. Do we redistribute the pie, so that everyone has a more equal share? Or do we grow it so that …

No Soup For You!

November 2nd, 1995, was a delicious day in television history. That’s when Jerry Seinfeld and the rest of his gang introduced us to the “Soup Nazi”, a stern-looking chef who demands his customers follow his obsessive rules for lining up and ordering. The Soup Nazi didn’t win any awards for customer service, but his soup was so good that customers lined …

Hitting a Tax Gapper

Summer is almost here, and sports fans across America have a lot to look forward to. Basketball’s 13-month-long season is (finally) starting to heat up. Hockey playoffs are coming to a close. Baseball is in full swing, and NFLers are about to report to training camps. Stop at any bar or water cooler in the land, and you’ll hear talk …

“And the Award Goes To…”

Right now, all across America, thousands of talented youngsters are dreaming of careers in performing arts. Whether they aspire to be the next Meryl Streep, or Taylor Swift, or Lin-Manuel Miranda, they understand the odds of success are long. But they still dream that one day they’ll find themselves in the audience at the Oscars, the Grammys, or the Tonys, …

Taxing the Roses

Every year on the first Saturday in May, an enormous crowd of socialites, “turf investors,” and people just looking for a party descends on Churchill Downs for the Kentucky Derby. It’s an unforgettable pageant of mint juleps, fashionable hats, and the most exciting two minutes in sports. This year, the favorite Always Dreaming leaped first out of the gate, left …

The Taxing History Behind Cinco de Mayo

Americans are great at taking perfectly serviceable holidays and turning them into excuses for parties. On St. Patrick’s Day, millions of Irish-for-a-day drinkers belly up to their favorite fake Irish bar to down pints of Guinness and shots of Jameson. Next on the calendar is Cinco de Mayo, when all those same St. Paddy’s fans become Mexicans for a day …