Profit & Tax Blog

Don’t Bogart That Deduction, My Friend

Imagine you're a hardworking pot dealer just trying to operate an honest shop in the newly legal marijuana industry. You get audited, and the examiner hits you with a $290,000 bill. He then asks to talk "off the record," and tells you he was lenient with your...

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Share a Coke with the IRS

Coca Cola has earned a lot of headlines for their "Share a Coke with . . . " marketing campaign, printing bottles and cans with 1,000 of the most popular names in the country, along with nicknames like "Mom," "Dad," Soulmate," and "BFF." You can even go online to...

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Alibaba and the Forty Percent

Turn on the financial news and you'll hear all sorts of explanations for the stock market's ups and downs. Oh no, the Fed's going to raise rates! Oh no, they're not! Who knows what the real answer is? But last week, the IRS moved the market — when they casually...

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Vive le Tax!

This year, as usual, millions of American tourists took advantage of summer vacation to travel abroad. Favorable exchange rates made European destinations especially attractive. Seeing Old World cultures gives us perspective that we just can't get when we load up the...

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What’s in a name?

Sports fans go nuts this time of year. Baseball fans are watching pennant races heat up; football fans are watching the NFL take the gridiron to kick off the new season; and tennis fans are moving their heads from side to side to take in the U.S. Open. Naturally, this...

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Cadillac Taxes for Everyone

Employers have played a key role in financing their employees' healthcare since World War II, when they threw in tax-free benefits to attract talent in a time of wage controls. So it's no surprise that when Congress passed the Affordable Care Act, they gave employers...

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Bug Bonus

It seems like every day brings word of a new internet hack or data breach. Target got hacked by Russian teenagers and millions of credit cards had to be replaced. Sony got hacked by the North Koreans and a loungeful of smug Hollywood executives got embarrassed. The...

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Ready or Not, Here We Come!

Campaign 2016 is here! Last Thursday, 10 Republican presidential candidates squared off against each other in Cleveland's Quicken Loans Arena, tackling such crucial topics as hugs, pimps, and Rosie O'Donnell. That same day, the Democratic National Committee announced...

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2015: A Tax Odyssey

On July 23, NASA announced the discovery of Kepler-452b, the first potentially Earth-like planet within the "habitable zone" of a star like our Sun. Kepler-452b is 1,400 light-years away, meaning the New Horizons space probe that just passed Pluto should get there in...

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Toxic Deductible Sludge

Back in 2010, British Petroleum's Deepwater Horizon drilling rig exploded and spilled millions of barrels of oil off the Louisiana coast. Countless small business owners, including fishermen, hotel operators, restaurants, rental companies, and seafood processors,...

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